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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.- @ s+ C+ ]7 ]4 b
CDs could have different ratings, AAA -> F,
' d5 W4 m/ L2 cmore risky ones would have higher premium (interest rate) as a compensation for an investment.
+ B1 x' Y6 t/ n1 x. hmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
4 f" S3 G# n& F3 X( Y7 t: N7 Gin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities." }2 r% v7 R, n: j
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
9 w* ` e! q; _0 ysimilar to bonds, CDs trading in the secondary market have different value at different times,4 L( s* C, {9 L( T
normally the value is calculated by adding it's principle and interest. 5 B' v/ V. g y4 }; m
eg. the value of the mortgage+the interests to be recieved in the future.
/ w G$ X5 L$ K. j: Gbanks 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.
5 v# o* R) T+ h% O4 [# H; o$ A9 O
6 w8 q+ ]2 m. @/ Q5 w7 b) B0 Wim not quite sure if the multiplier effect does really matter in this case.
8 a8 d) g* c2 C2 u1 w7 E/ din stock market, it's the demand and supply pushing the price up/downwards.
7 E6 A, H4 Q, D( a& jFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,. C4 T) | v. H i- o, P! S+ o
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
5 u% y. U/ T( W4 Z9 NThe 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. 4 |) c8 V4 T0 [& f0 S- i N$ q
but the value of their assets did really drop significantly.# q' \; c6 l' T ^/ f; o
0 A7 t( `- N& N" ] o# m
[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
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