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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.' @+ s# B2 U! o- R8 h
CDs could have different ratings, AAA -> F,' i5 u/ e7 ]- _; K. i
more risky ones would have higher premium (interest rate) as a compensation for an investment.
3 R$ a( f& A G0 @, b8 H$ ]- mmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
; h' t* Q1 S2 W% \/ V3 Din other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
" a Z7 X/ A" s+ { pAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
6 l; o3 A8 P% a3 bsimilar to bonds, CDs trading in the secondary market have different value at different times,
2 E) T2 X% X' F9 p; Mnormally the value is calculated by adding it's principle and interest. 0 j% I0 S# p' J3 w( y$ X
eg. the value of the mortgage+the interests to be recieved in the future.
. f: Y, h" E9 H# |( l7 abanks 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.: N: v7 P9 h0 |% _ k1 J5 m
0 g, }( t6 }( Q. ~( Qim not quite sure if the multiplier effect does really matter in this case.
, D, c8 ^9 G4 `in stock market, it's the demand and supply pushing the price up/downwards.- x5 \1 M2 |' R6 A
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,% L3 G/ i! k) U3 ^
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
2 n( t/ W2 M. j$ [3 s6 gThe 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 m1 }" e" n( f* u6 q, L2 H1 l
but the value of their assets did really drop significantly.
4 u: I/ u2 H* _0 M9 B9 W0 [
. q+ `; p% y# A% s! y' c. h[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
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