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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.- |; k/ ^9 o% e, t
CDs could have different ratings, AAA -> F,) y! r* i/ ?8 M, c. w+ O
more risky ones would have higher premium (interest rate) as a compensation for an investment.
3 {/ a" b2 P3 s" X0 S# |( D$ fmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
7 Y, A4 E+ z8 _in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
5 f1 ]. b/ f! yAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.3 r8 P" {6 v& ]3 p2 C: N1 F+ G
similar to bonds, CDs trading in the secondary market have different value at different times,: `2 U$ I1 |$ c2 ?) n
normally the value is calculated by adding it's principle and interest.
i' q. q' B e: H) B. y6 Meg. the value of the mortgage+the interests to be recieved in the future. 0 s) W2 J f2 Q0 y8 g4 I2 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.) R$ F6 w9 ~" S; i" j! z% x' G
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im not quite sure if the multiplier effect does really matter in this case.) X5 v4 u c3 m/ m( z6 m( c& d1 [ Z
in stock market, it's the demand and supply pushing the price up/downwards.
; r' n- @& J/ R& `- j* q9 oFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,6 j2 \) E+ ~, e% O
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
8 I/ {' q" v$ _; {& qThe 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. % ^" m" f# Z5 h' M. \" n
but the value of their assets did really drop significantly.
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[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
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