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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.: Q5 |# B4 U& |3 c( N# G% \
CDs could have different ratings, AAA -> F,0 P- J/ f" o# Q8 u
more risky ones would have higher premium (interest rate) as a compensation for an investment.2 y1 X0 r8 r! ^5 p5 h
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
# J3 h( k9 M; M4 P, z8 ~' hin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
: M1 G S1 }0 j; A) O; sAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
, s! l5 s# G- b! ?) E4 bsimilar to bonds, CDs trading in the secondary market have different value at different times,
~7 `% |! w+ ~! J/ l3 V3 Znormally the value is calculated by adding it's principle and interest. " ?2 C7 F/ S! C: ~: l0 n! g, ?$ ^
eg. the value of the mortgage+the interests to be recieved in the future.
- q. [7 ?! T1 `1 e5 _9 A: n6 D' z3 pbanks 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.
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im not quite sure if the multiplier effect does really matter in this case.
5 R b* P% @4 M& l2 T- din stock market, it's the demand and supply pushing the price up/downwards.
- G: ~& i* v! Z N# g' U4 @# yFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,2 {1 p, J8 G% h3 E
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction., k2 Z4 G( r0 Z i3 Y* t' z
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.
! I! Q* S# x6 E% Tbut the value of their assets did really drop significantly.
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2 z8 p: v/ k7 N9 x6 n[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
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