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發表於 2008-10-8 07:03 PM
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i thought it is the reason of rate of return.! A8 \. t9 r! N# W! V9 G* n, X
CDs could have different ratings, AAA -> F,
% V$ i/ k) ~3 Y7 ymore risky ones would have higher premium (interest rate) as a compensation for an investment. H4 n( o$ h6 y5 l& y: ^0 T
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,& Y/ m3 |2 `0 I6 `+ V4 L$ o
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.7 U: h- U/ e! O2 x
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
: ?" D* P/ d% ^! y% V0 L: X* X+ Psimilar to bonds, CDs trading in the secondary market have different value at different times,, B0 Q& H+ a* |* v' k M
normally the value is calculated by adding it's principle and interest.
) `& K* o) [1 L) Heg. the value of the mortgage+the interests to be recieved in the future. ( f9 u1 ^- c$ M7 E: r0 h: L
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." x; c4 w3 o* G' \3 C8 f
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im not quite sure if the multiplier effect does really matter in this case.. f; A0 `8 C# i, F
in stock market, it's the demand and supply pushing the price up/downwards.. r. i2 h, x- D6 w* R. P/ i$ {6 {% \
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
8 D+ U. e, ]. |' K- R& DA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
x) \2 { l3 `6 D) `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.
& ~, e/ B7 C" Z( M; Jbut the value of their assets did really drop significantly.0 {5 N. c0 g! J3 n# l% ^- j i5 g7 ?
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[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
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