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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.3 K7 u" d& G) W) e; y
CDs could have different ratings, AAA -> F,
2 Q: L: n. ?$ @ b, r; {" jmore risky ones would have higher premium (interest rate) as a compensation for an investment.7 L7 `; w2 C1 u$ l ~& ~
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
$ h4 i" }0 f! T! C* D* e$ Cin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
5 }, L- j1 O4 p8 HAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
0 b( x* \7 V. d' Y ysimilar to bonds, CDs trading in the secondary market have different value at different times,
! `0 t: N/ \, D6 z2 J' znormally the value is calculated by adding it's principle and interest. + c5 ]; {" t$ S4 E) `6 D
eg. the value of the mortgage+the interests to be recieved in the future.
4 v& n$ A2 T+ q- o3 wbanks 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.
) w( ?8 b$ E; h$ I5 t* b2 Z/ {* D
5 W$ M- M" x8 Eim not quite sure if the multiplier effect does really matter in this case.; q+ e# B) B0 _
in stock market, it's the demand and supply pushing the price up/downwards.
3 @3 S' p. m% XFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
2 o- F6 G! E9 S8 ?) b5 F$ VA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
5 [; S& d. B f0 |# |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. & `$ Z8 Y. n- o% l' s! c/ d; e
but the value of their assets did really drop significantly.3 }$ f& l- Q7 y
8 \) t/ V% s5 S$ V6 K
[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
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