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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./ c7 F( R" |( ]& C9 J, `6 d1 U1 B
CDs could have different ratings, AAA -> F,
) t+ h- t' g2 j1 W0 i4 w }, Omore risky ones would have higher premium (interest rate) as a compensation for an investment.
. e' E2 L6 g- P. J" Jmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
; {& Z% }% I& Cin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
, ^. T. R2 I' _% @0 `9 K/ LAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.2 J" J4 x. S, l# F, S( U S; i
similar to bonds, CDs trading in the secondary market have different value at different times,8 f7 ~/ K; T+ u3 b) f
normally the value is calculated by adding it's principle and interest. / _$ F* t5 s8 {, k
eg. the value of the mortgage+the interests to be recieved in the future.
7 N8 }. ]$ K ]$ _, J! Rbanks 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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5 B; S; E) C; [# U3 o& s% T& r( Aim not quite sure if the multiplier effect does really matter in this case.
: k J0 j6 m" L9 b$ U5 C$ @in stock market, it's the demand and supply pushing the price up/downwards.4 X, `1 C0 {. ]' e: `! D4 M, `
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,# [+ N/ l Y: _5 d6 P
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction. g2 C6 M' y- p8 c
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.
" w6 j y9 J9 c5 N. E' cbut the value of their assets did really drop significantly.
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; [4 N& ~1 S) R- C[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
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