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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.0 w2 j! q( t2 @/ T2 C1 M1 Z
CDs could have different ratings, AAA -> F,
2 v0 I; M$ ]' E0 F2 @more risky ones would have higher premium (interest rate) as a compensation for an investment.
6 ?3 U( S( P9 ?& @, v% A7 Lmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
6 d* Z* j/ [1 p3 h9 tin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
0 C, t& {' K9 qAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.2 n, {# L# J8 d7 w$ S4 ?
similar to bonds, CDs trading in the secondary market have different value at different times,0 M, ~0 f1 A( g( W: N9 d
normally the value is calculated by adding it's principle and interest.
' s# G6 S$ k4 t" i7 \4 }4 deg. the value of the mortgage+the interests to be recieved in the future.
3 b) o; X' U: s t3 ~+ a5 M Jbanks 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.
2 b& }% O) }9 K8 R/ g" d3 O/ V
" i3 f# C; Q/ Q) k( L. M. _im not quite sure if the multiplier effect does really matter in this case.
8 |( F4 k# @. b( bin stock market, it's the demand and supply pushing the price up/downwards.
) I' v P: P0 a& q$ l! RFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
- Y6 O: `2 T( p3 t; }A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.0 Y$ N& M d6 v5 Q% P9 l
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.
! @4 E$ u" G3 J# ~but the value of their assets did really drop significantly.
! o: S# ^2 B0 s3 {" g0 }
# H% s- p! C( N[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
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