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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 V6 A' T7 x, D& {' Y0 O$ u
CDs could have different ratings, AAA -> F,6 K" r* s) h2 P, L( m
more risky ones would have higher premium (interest rate) as a compensation for an investment.
! G: ~4 j% n7 p0 \& i$ u! ymain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
5 u* W% n6 l% ?' F2 R0 O6 O6 O, {in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
8 ?# z2 P% k" b3 v- G; D" N# qAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
" ~7 l" I4 K% z6 o' Z7 I# _& Bsimilar to bonds, CDs trading in the secondary market have different value at different times,& G! {3 `2 j# }" {0 q9 d# E
normally the value is calculated by adding it's principle and interest.
% p9 z" F d9 u. ?9 m9 t9 eeg. the value of the mortgage+the interests to be recieved in the future.
c5 y I' U2 Mbanks 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.* `8 G- }; g) z2 |7 @" p8 ?
: |" l0 \1 i; H0 x9 z0 P/ J/ _
im not quite sure if the multiplier effect does really matter in this case.
+ A& F# k/ z; E# Zin stock market, it's the demand and supply pushing the price up/downwards., I; P& L5 M3 a& X
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,+ I% S7 X# U0 w' J% h4 d$ X% d
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.3 ?. H7 h: S0 J$ t+ D7 _
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. - K' s y, P" a& \1 r1 J
but the value of their assets did really drop significantly.4 T! i( h D( ]! E9 ^' y
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[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
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