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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.4 {8 L8 K1 \0 ?) J# `
CDs could have different ratings, AAA -> F,
# a- w( O& r; t2 Omore risky ones would have higher premium (interest rate) as a compensation for an investment.
" a- A: D$ Q# K* V8 ?main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,5 a, q. {& E7 R" a6 C5 N
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.0 n9 v( b) x% v+ ]5 {" z
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.9 y, |: {. _& s/ T5 H( j# w- w
similar to bonds, CDs trading in the secondary market have different value at different times, n3 S, J* `" N9 ]' w
normally the value is calculated by adding it's principle and interest. $ [' b' i0 u0 v8 C
eg. the value of the mortgage+the interests to be recieved in the future.
) M# u, }" l0 V4 a. q$ g& g8 n& Ebanks 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 Q7 }( b1 e7 c5 h4 u: Z8 m
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im not quite sure if the multiplier effect does really matter in this case.
0 ^$ U7 r) W. Y7 s' @1 w1 ain stock market, it's the demand and supply pushing the price up/downwards.
) n ?. s' t- P: c/ G+ |+ W0 mFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,) ~0 k0 `2 V/ U" v& M4 R
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
- {2 |1 n) b- g, B$ W6 H7 pThe 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.
: R/ E0 K5 k6 z* V# Sbut the value of their assets did really drop significantly.+ g- G# Q& B- L. K1 i1 s. o
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[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
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