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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.; h) n# u2 m( @+ Z; O
CDs could have different ratings, AAA -> F,
9 ^5 i% b4 e; U. w3 ]/ rmore risky ones would have higher premium (interest rate) as a compensation for an investment.
$ L( v4 `& I0 R+ {main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
% {) n- v; F2 _' fin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
( H7 \: g4 f/ V5 hAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
# \$ _* }$ a" ]* d4 Csimilar to bonds, CDs trading in the secondary market have different value at different times,' j. W* r. _( b( z+ f0 t: U( ]
normally the value is calculated by adding it's principle and interest. 4 {! k4 P$ ]) \0 {! J
eg. the value of the mortgage+the interests to be recieved in the future.
# K0 m2 q( n, n- x* gbanks 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.
. g" O; X! C2 ^
7 m! c6 s1 |$ U! ?im not quite sure if the multiplier effect does really matter in this case.4 ~( [5 m) b) y* O, d" {% E
in stock market, it's the demand and supply pushing the price up/downwards." D) g# ^% z8 u& ?% _8 N. i
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,+ D0 E u2 }) S; g! i! W
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
& L. T) F- G/ G( A8 X7 @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.
+ u o! p! A6 h' `1 {$ u2 Fbut the value of their assets did really drop significantly.+ a4 ~1 Z, @2 D; z2 \) n
& c& n& `' a; d% a
[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
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