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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.* P I) G! L, p% W- P3 r; V
CDs could have different ratings, AAA -> F,9 ?2 u8 G" q4 ?8 o' x
more risky ones would have higher premium (interest rate) as a compensation for an investment.5 x- h, K u3 L* n
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return, \7 x9 s1 |) [: E. h8 R
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.9 z% V' d+ F# S) x, q
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.6 w# r: V& c0 e3 K1 q
similar to bonds, CDs trading in the secondary market have different value at different times,8 h7 \- c* J/ P" e$ X4 }9 w# J
normally the value is calculated by adding it's principle and interest.
2 E, P) r. i9 Eeg. the value of the mortgage+the interests to be recieved in the future.
+ Z( L- P B; e( |/ g; F) H$ Hbanks 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.
1 ^1 Y5 D6 y4 J3 @! k
+ r; |: q5 D6 J1 @' y ^, Cim not quite sure if the multiplier effect does really matter in this case.
1 v/ G8 X5 p; M" }2 Win stock market, it's the demand and supply pushing the price up/downwards.1 }9 s3 h/ w" Q6 g
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,. ?! u7 W) \. w! D. n# {
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.* I7 K, T& c# S$ o4 `3 @$ L& H, s& J1 c' G
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. + _: j& z+ j+ x0 |# U. X/ z" [
but the value of their assets did really drop significantly.6 T, G1 Y( C. u4 t0 n; O) I
, }" ?9 m( @8 Q' j$ P+ G, ?" E
[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
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