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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.
8 b% G; J. k# b) m& }( wCDs could have different ratings, AAA -> F,$ Y" M) B8 x1 o8 b/ a) N! ? q( f
more risky ones would have higher premium (interest rate) as a compensation for an investment." G' G9 R/ z( S& X6 _
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,. ]* ?8 o& O( C2 y3 r
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
4 }4 X6 q0 s8 S# y( _( RAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.' N( g* o7 B! A o @& d4 N
similar to bonds, CDs trading in the secondary market have different value at different times,' w; ~( L# N7 f- k
normally the value is calculated by adding it's principle and interest. 6 E3 [, Q/ @9 z5 Q }5 A
eg. the value of the mortgage+the interests to be recieved in the future.
& a0 d' ^; ?3 dbanks 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.
6 L) y D% K$ c C: H
$ B, _8 j( A& \3 `, ` Oim not quite sure if the multiplier effect does really matter in this case.
9 R8 b0 o( Q; m& [7 f' M3 C& i. Y/ {2 lin stock market, it's the demand and supply pushing the price up/downwards.- [' P5 I" M8 M3 X0 X, ?1 |
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
% y! F `2 ~4 rA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.: s- o0 R0 e5 J. C% z' }- s0 i
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.
* Q( T' O' F% S+ J, v- l9 gbut the value of their assets did really drop significantly.
7 S: Q3 }$ u6 _, ]# O) F0 p, e
9 _: Q) G3 f- o& ~5 N& X- b[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
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