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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.( y! z. k, A% x/ j: s0 Y7 {
CDs could have different ratings, AAA -> F,
- X2 N& `9 Y$ Q- T* z% b; A! G# Xmore risky ones would have higher premium (interest rate) as a compensation for an investment.
, s+ ^( K* U% V2 X+ Omain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,5 C1 s* u) k- w9 H# O3 \& g1 O. N
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.0 ~1 E& }& d( N
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
+ _& L* W) U ] l1 Ssimilar to bonds, CDs trading in the secondary market have different value at different times,8 S& E" {$ v: u
normally the value is calculated by adding it's principle and interest.
0 f3 |' }9 z# C7 r, Yeg. the value of the mortgage+the interests to be recieved in the future.
$ i5 ^" r/ U& g) p9 |) bbanks 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." Y' N, ~9 [9 A) f7 R }; N
X: q9 G, ?0 \! Y( P% _
im not quite sure if the multiplier effect does really matter in this case.
q. X2 W. {8 n5 d" ^9 i" Gin stock market, it's the demand and supply pushing the price up/downwards.2 \2 z9 v- a" [ l
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,0 B$ ~. f- R' p# J6 H+ n+ Z
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction." y7 G ~- s3 v
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.
* ~8 R' B9 D9 x$ Y. l$ q/ s) obut the value of their assets did really drop significantly.
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% _- n; a4 ^" n& Z7 E0 q3 d[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
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