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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.3 K8 i" J0 V0 h( g$ g+ W
CDs could have different ratings, AAA -> F,
% K2 s8 M$ X* K( [% Z0 Pmore risky ones would have higher premium (interest rate) as a compensation for an investment.4 m/ K0 Q. U% J- C
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,; J0 E6 t. n1 c2 [
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.; h1 j( T1 T3 b
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
4 b6 T& E' \% m5 _5 w zsimilar to bonds, CDs trading in the secondary market have different value at different times,
' A& a: h& C! Y& `normally the value is calculated by adding it's principle and interest. 1 l! Y9 [) N- T, o$ x
eg. the value of the mortgage+the interests to be recieved in the future.
3 j$ l# G ~6 b0 Qbanks 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./ s! U5 l% a$ z* V+ S0 ^
3 G/ g( E+ o- t" Z$ Q9 U! L% V7 Oim not quite sure if the multiplier effect does really matter in this case.8 _8 G7 v4 P0 q! {# m' D4 B, d) l
in stock market, it's the demand and supply pushing the price up/downwards.: y+ S" i4 ~/ p1 X! a2 v+ \% k
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
4 x+ u4 F& p, t' pA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
3 m j( F. H2 d+ a9 R) ?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. ( t+ O. r4 W( G4 ~3 O( s7 P
but the value of their assets did really drop significantly.! H/ [# F6 }* Y5 a- u3 ~, s/ S6 o
! W6 k4 c! R* q! n }[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
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