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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.& S4 R1 o$ p: @7 \& g Z* g
CDs could have different ratings, AAA -> F,9 Z9 `% h% c) b$ ^/ O* S9 u/ X
more risky ones would have higher premium (interest rate) as a compensation for an investment.5 C: P }( y% ~
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
/ D* e; @9 @, Pin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities." r8 _$ |' n( A& S, y4 ]
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.0 @4 v7 G$ s- e
similar to bonds, CDs trading in the secondary market have different value at different times,3 o/ d- N+ @) s) {" O) N, Q; k: e
normally the value is calculated by adding it's principle and interest. 8 ~% L6 Z; u g, J K8 h
eg. the value of the mortgage+the interests to be recieved in the future. ) p2 m2 m! M4 _1 u; B/ ~
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.
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3 U7 u3 D9 b, [: a s$ a2 I4 Fim not quite sure if the multiplier effect does really matter in this case.) J' h+ F$ b7 _& X. |2 O7 T
in stock market, it's the demand and supply pushing the price up/downwards.
O/ ?9 l! W* M3 r" a& w% @& ^For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,6 g3 H& T- T. d0 z7 M
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
/ x- N, l2 \ ~- L% N' ^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. / O6 f' _. _* Q, m: f
but the value of their assets did really drop significantly.
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' b( [5 Z# G1 n# d) g[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
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