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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.% O$ ~ V$ L2 U8 W# \' v6 O
CDs could have different ratings, AAA -> F,( d8 r! B7 E9 }
more risky ones would have higher premium (interest rate) as a compensation for an investment." W) S# g+ F6 P3 P. p1 N! I
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
/ H$ Z/ ^! C4 S0 [in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
( `9 c3 b0 _$ I1 y, iAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
3 p% I- J. z3 ?similar to bonds, CDs trading in the secondary market have different value at different times,$ u+ [$ e# T, j# V
normally the value is calculated by adding it's principle and interest. 6 X% D% c& A/ t% @
eg. the value of the mortgage+the interests to be recieved in the future. " ]% g2 R8 S, j9 s6 o; v
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.
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3 p0 N1 O( ~! L3 cim not quite sure if the multiplier effect does really matter in this case.
6 [# ^, h2 P" s6 t. C" oin stock market, it's the demand and supply pushing the price up/downwards.
& {4 ^7 r. n5 n$ p" \For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,% C0 f ?9 v, `$ W
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.0 Z: `9 Z0 }0 ?* I4 J9 R* v P
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.
0 P' y6 O$ N, s e C) _. fbut the value of their assets did really drop significantly.
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* {$ _: }. }; f0 P. Q( [( n6 j8 a. Y[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
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