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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.# H: q6 e3 k$ P9 L5 P5 p# z
CDs could have different ratings, AAA -> F,
( h) C3 g# `0 |3 b1 T. X. m' wmore risky ones would have higher premium (interest rate) as a compensation for an investment.
: J/ |0 ?9 O/ {% V1 pmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,2 T# h0 \. U$ }1 ?* h2 I" u3 E
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.% V+ f6 E) F1 C0 r$ p2 e( r
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.7 |" w: g0 p) g. t# `0 ]. c
similar to bonds, CDs trading in the secondary market have different value at different times,8 n( ?/ K# C" ]% I$ t
normally the value is calculated by adding it's principle and interest.
e8 N! K( f7 c- keg. the value of the mortgage+the interests to be recieved in the future.
9 x9 _8 t6 ^( Y. z4 @" G& u' Rbanks 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.9 M+ `& r4 W0 \+ e+ b; R
$ E( b0 V5 K3 W6 d" ^% \
im not quite sure if the multiplier effect does really matter in this case.
$ T& O* M* x' R. pin stock market, it's the demand and supply pushing the price up/downwards.
+ j% u/ i. U4 I. o7 ~For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,' V3 @( x, i7 ^2 y
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.% L$ C! d9 K- \ m
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. , A2 y5 O% e( Z# p" H, p
but the value of their assets did really drop significantly.7 ~0 \9 R! d9 E. N3 a
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[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
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