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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.. l0 z2 k% P6 T
CDs could have different ratings, AAA -> F,* {' \5 a$ H; G# o" o
more risky ones would have higher premium (interest rate) as a compensation for an investment.
" t f( G/ Y! a$ j- o% \main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,: N+ S5 s. x5 O1 F( d! B7 c
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
3 f: @ ~, I3 @! g* T$ w" d* _Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
& R( x/ Z Y2 s) X) q: asimilar to bonds, CDs trading in the secondary market have different value at different times,
5 |$ t) e/ u- | e9 Ynormally the value is calculated by adding it's principle and interest. - y; K* k& Z# R; Z1 e/ L, f
eg. the value of the mortgage+the interests to be recieved in the future. 5 S) q- {0 C9 \* M4 \2 C0 |
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.$ ]6 a t! y& E+ n% F+ `
9 t S, O" Z, ]( y- j! him not quite sure if the multiplier effect does really matter in this case.
* Q& h1 o8 A1 n" zin stock market, it's the demand and supply pushing the price up/downwards.
4 T9 T2 R V/ @5 V7 L @7 }7 o) Y/ [For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
% N: Z( i5 I, EA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.0 m) B5 @* q! V @8 O
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. 4 a1 o! Q# h0 C5 Q+ @
but the value of their assets did really drop significantly.! I$ J1 ?, j6 [& u
, k( x; L1 O0 H0 f R* b! }
[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
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