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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.5 Z2 S+ O" w' L5 f( ~" E
CDs could have different ratings, AAA -> F,
' K: @: N" Q% w/ Q- |$ lmore risky ones would have higher premium (interest rate) as a compensation for an investment.
W$ K d6 N8 D8 r" qmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
! {5 x r$ a# gin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.2 x3 N! ^; O6 l( J, _
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.6 c; z5 [# R0 l" J
similar to bonds, CDs trading in the secondary market have different value at different times,9 q+ X3 U# D* v' S
normally the value is calculated by adding it's principle and interest.
' ^* q( m. V/ X) I% W6 p% \+ H2 Oeg. the value of the mortgage+the interests to be recieved in the future.
H$ E6 o- ?2 x2 E, A: w0 j* ^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.6 B* ]/ h9 _; Z# f# M9 D
0 n' w7 r7 P, a$ Jim not quite sure if the multiplier effect does really matter in this case.
# T+ N! k5 |; R( L! d9 _" O1 Ein stock market, it's the demand and supply pushing the price up/downwards." j3 U* a/ \8 k' `& z. n7 r1 K
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,7 e, C0 i7 Y8 `: g
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.. f" B. ?2 c3 `, A/ ^
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. " ~7 J9 v2 w; ?! l: h
but the value of their assets did really drop significantly.9 F w G; k7 t4 t$ D- A+ d7 ]
3 [5 z W5 }2 R7 }3 J8 |: r0 s" W[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
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