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發表於 2008-10-8 07:03 PM
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i thought it is the reason of rate of return.
: m2 i$ r1 |4 j- \CDs could have different ratings, AAA -> F,
. @3 D- O$ z% J- d4 {more risky ones would have higher premium (interest rate) as a compensation for an investment.; F5 }3 {) L# O. n& o! a, A$ o F
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
# n" H" ?2 t' G/ h+ ~9 I. h4 \5 Kin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
S m# \$ U+ P' }Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
* X% y" ~& I2 q$ Wsimilar to bonds, CDs trading in the secondary market have different value at different times,
9 I# [* M; r; S; `normally the value is calculated by adding it's principle and interest.
r2 g6 F1 }" P% @/ x! Deg. the value of the mortgage+the interests to be recieved in the future. ) S5 f# w0 D3 r8 A/ F0 }" Z* p$ t
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.. O. J- V6 g* p( `% z9 U
: p7 o& o! _% @+ Y1 w3 Qim not quite sure if the multiplier effect does really matter in this case.
3 U( x+ i+ \3 E& v5 K2 f iin stock market, it's the demand and supply pushing the price up/downwards.
& v2 q* ~) B/ J9 [3 mFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
0 C6 a& c2 g( N) l- N" xA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
H6 K1 q# E `& l% H3 K9 }5 LThe 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. : E ]. h, ~. D6 \- b9 q$ x
but the value of their assets did really drop significantly.1 q2 {) c( w- a$ T; t* I* s
. h4 n. H# V/ t- T[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
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