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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.
2 |# Z/ f+ P. G$ eCDs could have different ratings, AAA -> F,
+ i6 B* I& V* M E; N; c$ mmore risky ones would have higher premium (interest rate) as a compensation for an investment.2 N* r$ H' `$ l7 n6 @8 Y
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,7 F) {1 \* T7 o/ O* B
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
- i# l4 f7 t6 B( Z0 rAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.% h7 x4 w; q' {) t" M+ ?( F
similar to bonds, CDs trading in the secondary market have different value at different times,
* t; p1 G) @# J$ rnormally the value is calculated by adding it's principle and interest. , `6 U5 `7 t! A, Y1 R
eg. the value of the mortgage+the interests to be recieved in the future. - a& o/ I% e, C5 @- m
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.
* d! h# p% j2 f* Z# }* r
" h8 J# t8 }' w! M# }, A. bim not quite sure if the multiplier effect does really matter in this case.
; t" c9 I$ U9 p( {" zin stock market, it's the demand and supply pushing the price up/downwards.. o3 U. I5 s" }' a; @! A" ^; E
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,# T$ f. F8 x: V
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction." Z3 w) E( a3 ?
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 u4 g* K. Q1 E; `# C3 abut the value of their assets did really drop significantly.
6 P! A- ?: b; K& V, [
/ |0 N, B- q. M3 f, E[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
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