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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.
: e5 T9 }/ n( }$ w O3 [CDs could have different ratings, AAA -> F,: q7 W+ C: M2 W, c3 [
more risky ones would have higher premium (interest rate) as a compensation for an investment.) q# D" t; g! o, p$ P( X& U# E
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,* W. q$ p4 q- K8 e
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.- o7 H l9 I7 V; l# S
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
- e6 x3 h' ^( C1 gsimilar to bonds, CDs trading in the secondary market have different value at different times,
/ p2 t8 x7 e2 F1 t4 E$ t/ ~& cnormally the value is calculated by adding it's principle and interest. 3 i; H6 ?% _, t* d* u% |, Y- c
eg. the value of the mortgage+the interests to be recieved in the future.
& x4 e5 q6 U* B1 E4 Nbanks 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 F4 A7 r" b9 r; Y" h1 H% H! ^+ L: w$ ]4 R2 W% v! m& k" G" |
im not quite sure if the multiplier effect does really matter in this case." a1 I. S( v% w
in stock market, it's the demand and supply pushing the price up/downwards.
) Z9 ]; O+ V) eFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
4 _" N1 t3 |! |3 g BA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.- q2 t6 U8 O9 z! L! F5 V1 ^) D2 [
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 j) ?/ f) t& r3 ibut the value of their assets did really drop significantly.6 c6 [; c7 V( v
$ W5 w2 i, L6 Z4 u
[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
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