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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.1 c* Q2 k6 w/ ]5 m* G- J, A" {. S
CDs could have different ratings, AAA -> F,$ Y9 {/ h$ H6 Y y; O: q
more risky ones would have higher premium (interest rate) as a compensation for an investment., E Y4 x9 ^: s
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,& J J7 A4 T. Z [
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
- \3 m9 X$ x3 h B; @Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.' ?' _" d: e; j7 h" x, n/ n
similar to bonds, CDs trading in the secondary market have different value at different times,
9 g' z- w) Q. @8 J8 j3 U1 Unormally the value is calculated by adding it's principle and interest.
; Y; M! ?0 r$ A) meg. the value of the mortgage+the interests to be recieved in the future.
# a% ^' m5 |+ W! kbanks 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.
/ I* @" f0 U8 N, l) Z- r2 F
; E i( R# @3 W: |im not quite sure if the multiplier effect does really matter in this case.; m+ Y3 }. v9 n" `7 R0 b, G! v/ V
in stock market, it's the demand and supply pushing the price up/downwards./ u; P* K( a0 Z0 @$ C. f" h
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,7 @! S0 j2 {9 {& {9 s- ~. f: Z
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
3 K% c3 ?. E* @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. / m y+ x$ {. ^7 W a8 N/ E9 c" m
but the value of their assets did really drop significantly.( J8 b- w' R: h" e
$ I4 g/ k2 u% ]$ `, P
[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
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