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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.& m: j5 w3 j0 C. [9 Y) y8 j0 |
CDs could have different ratings, AAA -> F,7 T7 I# B1 H; J8 Z
more risky ones would have higher premium (interest rate) as a compensation for an investment.; o7 b3 z/ j2 k" s. K$ @8 E
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,3 f1 M0 O. Y& S9 x7 }- l
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities., T% _- g9 q8 {1 p( p- U% u8 ?* {
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.( u( F. \# ^1 t: |
similar to bonds, CDs trading in the secondary market have different value at different times,
& D8 J% e0 n+ R9 unormally the value is calculated by adding it's principle and interest.
1 F6 J4 N3 h9 z; _) ?$ Peg. the value of the mortgage+the interests to be recieved in the future.
, \! m# k% B. |* V6 k' x2 x- Xbanks 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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$ ^; r& Z! h- A, F3 a6 n: J6 dim not quite sure if the multiplier effect does really matter in this case.
- p, T* t: ~7 R9 k7 B$ K5 \in stock market, it's the demand and supply pushing the price up/downwards.
0 B* M8 U% L# ?; r, kFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
6 Z2 z" D. u: m- T. k* UA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.+ }7 p( V% `5 l+ s% P# h
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.
% A$ i" G$ L: ]but the value of their assets did really drop significantly.7 s) z; o) M" ?2 t( A; w: _; J0 o
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[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
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