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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.$ J2 s; D% M7 S
CDs could have different ratings, AAA -> F,
W& \2 t4 v- {" M7 Amore risky ones would have higher premium (interest rate) as a compensation for an investment.6 L' K3 o3 A, `; b& ~' C" b
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,# c3 A( ^; D- x7 {
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.9 Z/ `" g# m; C+ i6 \. ^, S
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency., ^+ r* h; \' Q- p
similar to bonds, CDs trading in the secondary market have different value at different times,
5 N3 ?4 i$ P: }1 A: Y# [8 v$ f/ cnormally the value is calculated by adding it's principle and interest.
8 o: T9 n! J. ^9 k0 A. B1 Ueg. the value of the mortgage+the interests to be recieved in the future.
: k3 l, a& f$ R' ^6 rbanks 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 w, z+ {0 G' Z+ j: r6 t8 u; ?5 p
im not quite sure if the multiplier effect does really matter in this case.
4 ~4 e6 F8 q' H {; U% Ein stock market, it's the demand and supply pushing the price up/downwards.2 C, b: f$ G L
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
/ @/ ^, Q H/ ]9 nA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
! a! G/ f; O( N& `6 IThe 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. # H3 b4 f* {, @. `" C
but the value of their assets did really drop significantly.
" R+ L; v* }3 R0 t; N) a ] i4 }: Z( P1 ]
[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
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