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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." z/ u& q3 s' x. |$ u3 M- c& }
CDs could have different ratings, AAA -> F,
4 E* U8 \" y# J: M# i# [0 hmore risky ones would have higher premium (interest rate) as a compensation for an investment.
- ]0 Y2 b9 [8 i5 ^main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
1 G3 o( t$ ?: q# L* ]# O( n* `in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.( }6 l% U" e: ~
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency./ Q: N8 }6 A3 W# u( ^
similar to bonds, CDs trading in the secondary market have different value at different times,; V* v: I+ D, T# o" G% P' B7 I2 x; x
normally the value is calculated by adding it's principle and interest.
) e: U' ?! f0 |" ]eg. the value of the mortgage+the interests to be recieved in the future.
+ G5 {5 L) O7 ^" c7 k8 E" Ebanks 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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- a5 {' b+ V5 h( q2 s8 w* Oim not quite sure if the multiplier effect does really matter in this case.
7 P, b, I2 r: z' B/ a+ I- g# Jin stock market, it's the demand and supply pushing the price up/downwards.6 @+ S& g' \& b3 c1 ?
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,8 l! V7 P4 g6 u" S- i' k R/ ~- J
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.1 E8 S0 ?8 P& J3 c/ ^( \' j
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 d+ B% b3 zbut the value of their assets did really drop significantly.
4 D* \9 T4 t# j9 I* D& C0 F( U4 v. _) f9 _4 f2 Z. X' X, d, O4 w& u
[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
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