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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.
+ R. q- ~ Q$ a- ]; C hCDs could have different ratings, AAA -> F,
" M" i8 \" M ~0 Tmore risky ones would have higher premium (interest rate) as a compensation for an investment.( Z% _6 j9 G# r5 M
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return," |! n k. q9 [* w) {, l8 T! o
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
+ a6 E6 }- I# \1 D# eAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.( S- Z. r- g( V. }; i# I4 g: }, U* N
similar to bonds, CDs trading in the secondary market have different value at different times,
5 U3 R+ k. U8 G# k4 H; R! cnormally the value is calculated by adding it's principle and interest. 5 b8 u/ Q; H6 O+ C
eg. the value of the mortgage+the interests to be recieved in the future.
' C$ H& l' f; ebanks 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.# d0 Y1 G1 n( Y
, a; u% `/ O; uim not quite sure if the multiplier effect does really matter in this case." r7 G: U" K$ I' a. {! O
in stock market, it's the demand and supply pushing the price up/downwards.
' t4 q+ F" |( S+ h3 I0 fFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
9 D2 z7 z+ p! l, LA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.* ?8 @% F% @) G& {3 o1 k' m
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. 1 m, j& M! X9 R- {, @8 T) J* J& j
but the value of their assets did really drop significantly.. I0 \( Z$ I: T8 ^
# n5 f1 Z( G+ p7 [5 p5 ]
[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
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