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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.. M! l+ N$ J0 r/ ~
CDs could have different ratings, AAA -> F,
/ ~: I; S+ q6 Z; amore risky ones would have higher premium (interest rate) as a compensation for an investment.
$ E1 g# T- O: }. ~) w% v5 r7 ?main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
8 V! \3 m7 i+ b3 [. G* _' Kin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
% r5 w( K" u' k( b3 R/ V0 LAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.- @$ @! C: V$ t% S# I) D0 R+ I0 u
similar to bonds, CDs trading in the secondary market have different value at different times,! F- G/ P+ j' d1 m$ W* J1 ^
normally the value is calculated by adding it's principle and interest.
& v! `/ f; m+ keg. the value of the mortgage+the interests to be recieved in the future.
$ q# ?4 Y \, e( Lbanks 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.( {0 x- Y) ^/ L) }
: j! m1 g! m$ q% ^, o, Y$ a# T, z. ]0 {
im not quite sure if the multiplier effect does really matter in this case.' t' n5 G* s* `% H) o, x* i
in stock market, it's the demand and supply pushing the price up/downwards.
1 S; Q1 w7 x' TFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,) l7 ]& s& g* z6 ]1 k
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.9 x$ K4 p' Y( [. W% u
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.
% f. d( u- N' l {but the value of their assets did really drop significantly.+ Y( C; P. r% u7 m2 y/ ~! [
3 q+ |% }% w3 _' s/ g6 q/ X[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
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