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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.) |. Q: F V. s0 O: p0 Q" G# s4 K5 a: Q. D
CDs could have different ratings, AAA -> F,
8 E- n, n) d- P5 E- \( C9 Qmore risky ones would have higher premium (interest rate) as a compensation for an investment.
- i3 b& l0 `! wmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,! J/ r* g4 D* q7 r) K" I' P
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.7 c! b. o+ ?6 b7 z" U9 _7 O
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.4 f& q3 H& ]- q9 \0 j$ F1 e
similar to bonds, CDs trading in the secondary market have different value at different times,, p, P; N6 O! L8 u- K
normally the value is calculated by adding it's principle and interest.
( M* M P# j8 E5 g% `2 l' ]2 Keg. the value of the mortgage+the interests to be recieved in the future. : m' n: G, u0 w# Q5 O X, Z5 w
banks who sell the CDs, could enjoy a few benefits like, the present value of cash and passing the risk of holding a debt to another party.1 x; J% S7 @; r* k
; w! @3 T2 L( K( Tim not quite sure if the multiplier effect does really matter in this case.2 C( M) {' h' \6 b0 q7 p
in stock market, it's the demand and supply pushing the price up/downwards." s; J7 `# s4 c( }2 A
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
1 L. n8 t, w/ ~2 V7 R- j6 q- mA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.) L/ K) [$ @ Q" L+ t
The capital loss that ppl suffer nowadays, i believe, most of them does not really suffer a real $ lost yet as long as they dont sell their securities. H3 i/ L8 D! R) E3 F
but the value of their assets did really drop significantly.
& n7 j5 u* m7 u: s! \) R. a4 ]
4 `3 X% y3 l) e% d8 O7 S, v6 p[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
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