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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.& S W- f' @% ^# _
CDs could have different ratings, AAA -> F,* `4 X' Z! o. j4 e" C, C f5 s' z
more risky ones would have higher premium (interest rate) as a compensation for an investment.+ i8 |: a: [( J/ ~9 _
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return, _- s9 r$ [2 J% j" f
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
0 |, c$ F' W) ]3 F$ _! @- [Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.$ s1 h) i8 o7 |
similar to bonds, CDs trading in the secondary market have different value at different times,$ {# | N, T" T, q7 X
normally the value is calculated by adding it's principle and interest.
+ y- M9 T8 A9 l' R9 p/ C$ H8 reg. the value of the mortgage+the interests to be recieved in the future.
. W' F4 F$ `5 [) o ybanks 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: q/ V) E" O. i& Y2 x/ ~" c% j5 Z. K, |$ D
im not quite sure if the multiplier effect does really matter in this case.
: S! e/ F5 [* v+ N+ d( Zin stock market, it's the demand and supply pushing the price up/downwards.0 h2 ~# h- T- U2 t# h
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,) }9 }. ?) x4 I! r0 Z% o* v( H9 }
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.! V. ]5 j: y/ j/ @$ Y H! z% 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. . o+ L* Z* N6 d0 W+ o1 V* o8 r5 t% X
but the value of their assets did really drop significantly.5 q/ R8 T- C7 a7 L
2 p, B& Z& ^! [1 S4 E, ~[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
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