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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.. F7 |1 ~3 q; v5 {, g$ Q
CDs could have different ratings, AAA -> F,; B8 n0 ?( W' B" a5 |
more risky ones would have higher premium (interest rate) as a compensation for an investment.8 a' r( }6 r- ~; o
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,& _6 Z; q# S1 B5 f- a- r
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.2 K) y. p) V1 u1 }' K' v% B+ J
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
, y7 J6 V P' ^; y! V& F+ T/ _similar to bonds, CDs trading in the secondary market have different value at different times,
8 \- a2 u" A V( Qnormally the value is calculated by adding it's principle and interest. . g: _$ B& \5 `! @ _' B
eg. the value of the mortgage+the interests to be recieved in the future.
2 o, I! C0 l* h8 s/ cbanks 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. w7 u' X* q) i
) f" g4 y4 \$ D" Q0 B
im not quite sure if the multiplier effect does really matter in this case.
* o( i* q2 \/ V" M8 \6 {& ~1 ?in stock market, it's the demand and supply pushing the price up/downwards.0 A% i+ T3 B6 P N5 Y7 Y2 p2 ^
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,3 l; ^- p, u; o7 X0 e* A* r
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
7 G. L3 T: d2 N: T QThe 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.
4 b, m8 x' Y! `& Tbut the value of their assets did really drop significantly.: d/ }" B# U8 H2 ^* A
+ H) l% W! [/ X- i8 y7 U* W
[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
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