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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." g7 @- \1 Z! Q4 x
CDs could have different ratings, AAA -> F,: b. A t9 o7 ?# d0 R, l# ^/ k
more risky ones would have higher premium (interest rate) as a compensation for an investment.) g: v" `: ^$ ^, l
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
8 g2 w$ E, ]% P$ \$ lin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.- H f0 l. I# a2 G! A' }
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.$ y* _3 a7 ]2 E: z
similar to bonds, CDs trading in the secondary market have different value at different times,. p9 Y- I. ^! e" k6 z* `8 B
normally the value is calculated by adding it's principle and interest.
7 T$ s! L' g5 x- Meg. the value of the mortgage+the interests to be recieved in the future.
0 {% j$ X# I, u' P7 Ubanks 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.
$ ~- E2 J- J& b8 e8 I5 g. B( q! X; E$ }% Z. {0 x5 ?
im not quite sure if the multiplier effect does really matter in this case.
$ E' `& r7 t* y( win stock market, it's the demand and supply pushing the price up/downwards.
: Y! H0 q" ]. j* ~1 y" ?4 A. FFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,/ ?4 C% K! T1 V( w4 q) X
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.' W* C% e+ q4 c
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. - w8 {0 S, Q- }' T
but the value of their assets did really drop significantly.6 y9 u( j z) o8 Z/ _& z, q
9 k0 N+ `3 R- N' d2 g5 f) m/ |$ k2 {8 ?
[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
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