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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.5 ^; `% P7 i3 \
CDs could have different ratings, AAA -> F,
, q1 V6 p: P. ?1 W, Xmore risky ones would have higher premium (interest rate) as a compensation for an investment., M% ^% y+ L* N* T& D3 |7 D: s
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return," p9 e/ n- y( F( l! H
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.' _/ V1 X5 a: W0 D* {
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency. D$ D& l0 F- s
similar to bonds, CDs trading in the secondary market have different value at different times,
. ~8 w! T7 U* ], _# \$ ~. Hnormally the value is calculated by adding it's principle and interest. $ X: N0 `; h7 C2 F9 c) p" k
eg. the value of the mortgage+the interests to be recieved in the future. ! @& a! a( m' ?& Q- F
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., Q) I5 X$ h( U+ X( F I
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im not quite sure if the multiplier effect does really matter in this case.
! \( B% T2 D; q% `# ein stock market, it's the demand and supply pushing the price up/downwards.
, _1 O3 Z% R9 ]For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
% t. J6 a6 y: o9 O3 q2 q+ `A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.7 |0 R2 u( N# D" m' a; K1 ~
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.
1 J% Z6 x" n/ Sbut 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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