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12#
發表於 2008-10-8 07:03 PM
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i thought it is the reason of rate of return.2 F$ V( D. m7 M( p' K
CDs could have different ratings, AAA -> F,1 I: L' A7 l; f1 s6 p, [; a
more risky ones would have higher premium (interest rate) as a compensation for an investment.
& j" E) Q+ M# fmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,$ O1 e8 t4 Q. r$ k# z: E/ o
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities./ K: y9 l' v5 }+ r1 S- x- w5 p
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
% ^- j) y6 a9 _% Q# K; o; G$ ssimilar to bonds, CDs trading in the secondary market have different value at different times,- r% U. n# M6 C/ N! S
normally the value is calculated by adding it's principle and interest.
. _5 Q4 T) |' H- _* Z! f% Veg. the value of the mortgage+the interests to be recieved in the future. : ~5 E, c. o' v9 C" b
banks who sell the CDs, could enjoy a few benefits like, the present value of cash and passing the risk of holding a debt to another party.. i9 p) h, ~" k% ]4 J e8 S- Y
6 C8 o9 J2 f. b! m: }" F" o d
im not quite sure if the multiplier effect does really matter in this case.
- R1 Z8 w7 w6 `6 o) s) I( k/ T4 _ l# bin stock market, it's the demand and supply pushing the price up/downwards.. k4 A$ F4 s' |; A8 x& `
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,/ D- l) l( c$ e' o. A @" |
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction. j, q7 x9 w& @% I
The capital loss that ppl suffer nowadays, i believe, most of them does not really suffer a real $ lost yet as long as they dont sell their securities.
& X8 g3 d# q/ R+ E& G! ^) |but the value of their assets did really drop significantly.
% L: Y/ H3 p0 @6 E3 d+ N, K* \% ?* Y. \ K5 G3 ]9 I$ G3 X* ^, X9 `
[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
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