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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.- M4 R0 W+ N+ D j
CDs could have different ratings, AAA -> F,
; W$ \6 R4 K U" M6 p3 \more risky ones would have higher premium (interest rate) as a compensation for an investment.
" _1 b5 K$ Q; C$ ^. [main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
: t4 L' b& e% a: ~$ E2 c8 Vin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.3 Z, M/ t* ?- {+ @' X' Z: S
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
% E4 E3 L0 P3 ^similar to bonds, CDs trading in the secondary market have different value at different times,+ k0 B* H" h& e2 _: Y6 d5 n
normally the value is calculated by adding it's principle and interest. ; O- Y* Z4 K/ ?. ?; n
eg. the value of the mortgage+the interests to be recieved in the future.
) v9 h3 F3 c! e, V& Wbanks 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.7 K) @& J: P G3 ]9 v3 J
6 H$ U7 ~; M$ N; W" i# G9 Zim not quite sure if the multiplier effect does really matter in this case.( g& s7 U1 b/ ]' _ d7 W
in stock market, it's the demand and supply pushing the price up/downwards.; j8 l& W: [3 S3 @1 s
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
E3 v/ `1 l& x" U/ p4 M( O6 @! y; }A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
* {: ^3 ~# k& mThe 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.
9 ?9 K8 y# h7 _/ I0 S2 qbut the value of their assets did really drop significantly.5 }, m3 ?; h' r, B- e3 }
& I' ~; P- K, \$ h2 P: g8 F[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
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