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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.7 u0 ]! D9 ^$ e
CDs could have different ratings, AAA -> F,$ X* C* Y# A S8 `$ X8 P7 {, z, g
more risky ones would have higher premium (interest rate) as a compensation for an investment.( U# G' u6 @3 O- h, s* L
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
1 a: b e' E& l: a3 g$ yin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
& _4 c# |- U0 H l; `3 NAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency., Y2 a6 h. K* h+ Y( \8 U- D0 J! a
similar to bonds, CDs trading in the secondary market have different value at different times, ^" |7 d3 z4 \$ l! h4 c5 e+ y
normally the value is calculated by adding it's principle and interest.
5 p0 ~9 G7 V) Y6 @- N1 }' l6 @eg. the value of the mortgage+the interests to be recieved in the future. . D; n. `! _( |5 p8 @ E8 j9 E
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." k! I' E+ L- U8 w Q
5 x- c, f' H y$ `3 J
im not quite sure if the multiplier effect does really matter in this case.
1 _/ T% F" p# d# s5 Qin stock market, it's the demand and supply pushing the price up/downwards.
, w; j! a' n' O2 ^1 dFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
1 O/ g6 o' M( h+ j/ J- m1 [; z \; BA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
4 a) J1 b1 M- g0 y' T' `, _/ _8 WThe 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/ w: ^7 S, }9 `) J
but the value of their assets did really drop significantly.6 x, R; v! m4 [' G3 a& a
1 L5 l" Q9 J- I7 P# v[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
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