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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.
) `7 E ]2 ] m, ^- ^CDs could have different ratings, AAA -> F,5 d( M" P( l. A2 p5 M* ?/ q9 u
more risky ones would have higher premium (interest rate) as a compensation for an investment.3 [. r [; ?* W
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return," p' g+ ?6 i/ Y
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities./ G7 k# E. h6 F
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.8 D) w! v7 T4 c: I4 `
similar to bonds, CDs trading in the secondary market have different value at different times,
. }, o( G7 [! d% G( p6 qnormally the value is calculated by adding it's principle and interest.
" w, S+ E& @( W3 H! m* ^eg. the value of the mortgage+the interests to be recieved in the future. / L3 J _8 R" P2 b2 Y+ Q6 @
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.5 ]2 p1 I% o6 q \6 x
% `& U+ w9 ]! ^2 F3 H
im not quite sure if the multiplier effect does really matter in this case.$ Z8 M6 G) e' c
in stock market, it's the demand and supply pushing the price up/downwards.5 y7 u1 e) K; O! D$ \, H2 T) G/ T
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,6 c# m. I" a& D
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
4 }+ J; u. Q8 V, }2 \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 A9 h, d1 e" {1 n3 K! T* |but the value of their assets did really drop significantly." u9 Z1 y$ N. z/ A5 w0 g5 @
/ s: g4 h6 ~& ]1 I
[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
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