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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.
. r4 f: W- r& ]9 r5 J4 E4 LCDs could have different ratings, AAA -> F,+ U) D( d" n% H& n5 O
more risky ones would have higher premium (interest rate) as a compensation for an investment.0 x9 Q+ @* j7 K6 k3 ^& U
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,1 L0 S: M& \7 l8 _* [
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
- R- y. e; Z$ n5 u6 UAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
& k2 Q7 x. C6 c1 g0 l2 Zsimilar to bonds, CDs trading in the secondary market have different value at different times,
: u% L w9 ]- r9 r, ^) x! Znormally the value is calculated by adding it's principle and interest.
5 k7 ^8 X9 U, m9 {; m$ M3 Meg. the value of the mortgage+the interests to be recieved in the future. , C/ s7 k" J' U) @ k
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.) r* R4 t8 \0 j' J
( J Q- w2 v" |, O" B) o/ O! him not quite sure if the multiplier effect does really matter in this case.- B, _8 @" d! u, \7 S5 y
in stock market, it's the demand and supply pushing the price up/downwards.
( {4 ^5 M3 j+ p$ u# n* i+ ~For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
6 n8 I" t3 @' tA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.1 u# _3 k+ ^9 x) j+ v1 Y
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 y: {5 L3 W6 N- B1 h7 lbut the value of their assets did really drop significantly.
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" ~5 r4 {- t( l[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
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