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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.- j3 F$ U/ n% m) A; n
CDs could have different ratings, AAA -> F,
5 C3 ?5 F1 T1 v) `- T/ @more risky ones would have higher premium (interest rate) as a compensation for an investment.; T3 _8 E. |2 c; J. E6 |
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,; E( J! @5 i r
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.. m# Z5 Q9 H9 J$ z3 B, R
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
8 R0 q* l/ k5 ]7 {similar to bonds, CDs trading in the secondary market have different value at different times,2 E4 x6 H% u: [+ }
normally the value is calculated by adding it's principle and interest.
$ [( T: W2 \; o) d& qeg. the value of the mortgage+the interests to be recieved in the future.
7 n: K% W5 P0 G% Qbanks 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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im not quite sure if the multiplier effect does really matter in this case.* U7 X) |& v& _$ D3 P( ?; ]
in stock market, it's the demand and supply pushing the price up/downwards.
6 h1 n! a! O% H3 i( D4 E) _ M+ A' [For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
& a! Z) `# ~9 D0 T/ Z5 i3 A7 k& A( iA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
2 t5 o0 ~( l" U" E2 H9 dThe 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. : ]8 p4 R+ [( L" w4 g. F$ F
but the value of their assets did really drop significantly./ x! R* j( i6 _$ x& {
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[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
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