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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., P+ ~" ]; F& s0 n
CDs could have different ratings, AAA -> F,, U/ x' v5 |; f% J. p5 x X2 Q2 Q X
more risky ones would have higher premium (interest rate) as a compensation for an investment.; H u2 ?$ J, D
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
, T( ?' r$ \, j2 p9 }in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.: W3 f% |* ~$ m4 {; R
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.4 O. K! L+ @) V% w, f) m
similar to bonds, CDs trading in the secondary market have different value at different times,( K: g3 F2 M) G* g- n
normally the value is calculated by adding it's principle and interest. 5 T/ e; w, O4 ?4 r( G- l
eg. the value of the mortgage+the interests to be recieved in the future. 3 u3 W6 Q* f8 @* Y. 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.: Q+ W$ t7 o! ?; n2 ]: u
! E& P+ K: C$ o2 Fim not quite sure if the multiplier effect does really matter in this case.
. r1 {4 h' i0 \* o" p8 b8 N4 Lin stock market, it's the demand and supply pushing the price up/downwards.# B" G! Q. k2 _4 w
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
- G( H( \# W# E6 @A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
3 L* n# L7 \- R. hThe 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.
Z+ u- ^' D l5 N4 Xbut the value of their assets did really drop significantly.% W# s. _! z. ^0 B* C
8 v5 Z5 Y4 d1 O P6 S[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
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