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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' i1 K3 f0 K
CDs could have different ratings, AAA -> F,
9 ?! R9 {) Y4 ymore risky ones would have higher premium (interest rate) as a compensation for an investment.4 T: Q1 a6 ~2 e
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
0 e& }5 N2 i7 S/ |0 Cin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
0 u* T7 T2 t# k1 X2 _$ P9 |Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.5 ]9 i1 Y _6 G7 N m3 e. a! z& ?
similar to bonds, CDs trading in the secondary market have different value at different times,( {- U- x* p: l! l) u, c
normally the value is calculated by adding it's principle and interest. @ A R; m2 T0 F, J
eg. the value of the mortgage+the interests to be recieved in the future.
6 \* T9 a- T2 A7 M* l" 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.+ T3 h' ]3 ?; H$ A1 ~2 M
& m" Z, y/ R6 |& m: O- y. Uim not quite sure if the multiplier effect does really matter in this case.
4 v. W2 D! e/ K. ]/ n8 @9 jin stock market, it's the demand and supply pushing the price up/downwards.
+ ~ v3 m- v$ T3 y( {3 v/ eFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
" l4 p( i% r3 x8 W0 uA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
2 F2 e; }/ T5 s; C5 AThe 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.
2 I E/ z3 A I, sbut the value of their assets did really drop significantly./ C. O7 ]) O( ^8 v
. f2 V& j2 s L, o Q* e) x3 ?* [
[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
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