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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.
h; z& B" ?+ }3 K8 F8 |CDs could have different ratings, AAA -> F,
, \+ K' W$ b Imore risky ones would have higher premium (interest rate) as a compensation for an investment.
4 C: s- b) @8 i, \. B! M0 `8 Pmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
3 C* a$ E% `, |4 y9 rin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.2 ]$ u1 S$ a' q/ {$ o
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.! a A2 K. y/ v: G7 X
similar to bonds, CDs trading in the secondary market have different value at different times,; e9 e, h/ V# d8 {4 ~
normally the value is calculated by adding it's principle and interest.
. v# X4 _& ~1 X: weg. the value of the mortgage+the interests to be recieved in the future. 5 `# [# O* m& H% e
banks 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.
' s- ]& Z3 e. R' M+ r, r# t) i7 e# R
im not quite sure if the multiplier effect does really matter in this case.. [4 J( P7 h4 \# h
in stock market, it's the demand and supply pushing the price up/downwards.$ U! Q2 n U1 j$ E. b+ Z8 F7 C8 P
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12," u8 T C7 C7 j% i% g
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
6 Q( Y. [9 ^/ V2 f* kThe 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.
! X' K$ x5 q4 D6 r% {2 cbut the value of their assets did really drop significantly.2 m' Y& ?! w, g, S" g9 ^" t4 y) Q
8 L" l( k8 D7 n- i/ x[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
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