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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.
6 z! s7 }; u- I- Z7 pCDs could have different ratings, AAA -> F,% e3 y& g0 L4 n! G: _ t1 Z
more risky ones would have higher premium (interest rate) as a compensation for an investment.
0 P- l6 U; S& `main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,# }8 J* B# x, V& s: X0 w
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
& d8 w* \6 k& W& Z- z6 q+ @Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
8 S* a, v6 U. i/ h! v8 K3 {# }similar to bonds, CDs trading in the secondary market have different value at different times,' k8 Y t, Q6 |5 e1 e5 u- T
normally the value is calculated by adding it's principle and interest. ' _" M8 ^" S/ `& |! _1 |
eg. the value of the mortgage+the interests to be recieved in the future.
1 u* s" m5 Z" a- F4 n* Zbanks 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.
: @) W% m6 Y7 d0 K7 z" l8 x: g% [# c: Z
: o1 R% l1 c8 ^' c( p9 E* uim not quite sure if the multiplier effect does really matter in this case.
4 \3 ^2 X: `, d7 G4 cin stock market, it's the demand and supply pushing the price up/downwards.' m. |) O/ k9 g4 b, ?8 [ J1 m! n
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
7 p0 w% Q- n4 I; G1 ?A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
, I/ ^) k# ^& i( i( B" z4 fThe 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. # O+ {7 n9 U0 K* a) ~( j$ \6 k+ f
but the value of their assets did really drop significantly.
2 @0 x8 s, `% C; b! J: [% E) U* m. } z1 l: V9 K3 Q
[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
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