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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.: U; k# V3 w5 J' e A$ U* Q
CDs could have different ratings, AAA -> F,+ B: @9 R" M! [# K2 M" U$ W
more risky ones would have higher premium (interest rate) as a compensation for an investment.
' L, ~' x% z2 W7 A% }5 |' ^main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
- I% L% k& t8 _& [! D/ T3 din other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.; D3 j6 M# `6 P5 C: d; m9 ^
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.7 ~. P/ z: }( x1 T7 ~
similar to bonds, CDs trading in the secondary market have different value at different times,) I# v3 L' u- A: \3 ?2 r+ @
normally the value is calculated by adding it's principle and interest. 2 `* E% G5 [1 O/ I# g
eg. the value of the mortgage+the interests to be recieved in the future. 1 G# T, |$ c& R6 K* [# q
banks 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.3 ?. y5 n% W6 a7 [0 g B% E! i, g- t
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im not quite sure if the multiplier effect does really matter in this case.
! F* ~# p7 H, W, Y) Y- p9 Vin stock market, it's the demand and supply pushing the price up/downwards.
: L5 z+ Z( I1 T# iFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
" s6 @7 T3 ~' BA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.9 y* u |0 ~( W* x/ X5 X
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.
K) T5 B! o) Y. t+ k7 k, ubut the value of their assets did really drop significantly.
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[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
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