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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.) K+ e1 m. P; p" _1 _& Y
CDs could have different ratings, AAA -> F,& t! s( q7 r9 G4 c
more risky ones would have higher premium (interest rate) as a compensation for an investment.
1 A6 ^* X( u# G, Z+ P! `7 N" wmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
* B* p$ I/ n4 v: Z. {/ Yin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.4 e# B; H/ ?+ I+ |# m0 }. H
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency./ I% R+ X3 I6 i/ ?+ n
similar to bonds, CDs trading in the secondary market have different value at different times,
$ Z9 K5 O2 x2 h3 ^9 t' n6 Jnormally the value is calculated by adding it's principle and interest. $ F: \; i' g }, |- C( i$ U
eg. the value of the mortgage+the interests to be recieved in the future. p0 n2 K4 _8 m" v) |6 o$ L7 z
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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: r, ?7 T% F- Kim not quite sure if the multiplier effect does really matter in this case./ a' l, x* N( d a- t _
in stock market, it's the demand and supply pushing the price up/downwards.5 V, _: {9 r% b
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,9 r: F0 b4 a) g9 Q( K
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction., [ r& L( ?% f8 L
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.
0 U6 o4 a$ ?* C+ h" S) ubut the value of their assets did really drop significantly.& `/ X9 \, H% N: u$ f+ s; y9 v2 w
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[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
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