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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.. F% X7 q! B T6 d. {7 s
CDs could have different ratings, AAA -> F," o. c7 n. q% d6 _" E& S& F
more risky ones would have higher premium (interest rate) as a compensation for an investment.
W/ A% J6 [2 j* C# Z3 {, `3 Dmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
2 o$ N7 ^( E3 x' Q: nin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
1 f' V! k- Q" B0 x. K& HAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
% c" c. k3 d7 u$ H% M5 A( P; Xsimilar to bonds, CDs trading in the secondary market have different value at different times,. K% i/ s& ~7 O4 R
normally the value is calculated by adding it's principle and interest.
8 o7 l, Q/ ]/ [) f q* Yeg. the value of the mortgage+the interests to be recieved in the future.
, E; Z2 ^! v5 s( F! ^# O8 ~: ~( V4 ?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.
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im not quite sure if the multiplier effect does really matter in this case.
% I% V5 J4 a+ Q, tin stock market, it's the demand and supply pushing the price up/downwards.7 d; [: `/ S; Y" ?( E# I5 j
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,; Z! s B# x0 d& M0 J) g
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
1 v$ R) Z+ k* g# O; ZThe 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. 3 A3 x( x; L' P+ j+ r$ L( a
but the value of their assets did really drop significantly.
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) Q7 u4 z' E- w5 e7 n; B[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
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