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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$ k% n* |4 v6 O; BCDs could have different ratings, AAA -> F,: X! E' G9 b% ~, V; u$ H
more risky ones would have higher premium (interest rate) as a compensation for an investment.
: C' h) r7 D! f1 @3 xmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return, K! m5 i2 [9 O0 h7 K
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities." f9 [! @4 S3 L2 z. B2 z+ `
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.3 K: U7 l3 P7 V
similar to bonds, CDs trading in the secondary market have different value at different times,! x4 ]" z+ A' w& x: x
normally the value is calculated by adding it's principle and interest. ( y: `6 I8 c4 ?. p2 r9 @/ } \
eg. the value of the mortgage+the interests to be recieved in the future.
E+ [2 k( o5 j; K% {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.
- ]0 x4 G' U7 L1 a: ?) _2 Q4 w
5 d+ H$ }5 p, {im not quite sure if the multiplier effect does really matter in this case.
/ C4 _, x9 c! `; y1 X! i6 U- min stock market, it's the demand and supply pushing the price up/downwards.7 O3 h$ N/ m6 r/ p. d4 t# I; V" L8 A
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
5 ~. [, E8 }$ `6 UA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction./ H8 _$ Y; k2 \7 Y4 B: _/ K7 T1 s
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.
6 b; b) L4 Q0 v9 fbut the value of their assets did really drop significantly.- z L1 N# y' ^* u
9 v6 [" a$ x- D8 [[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
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