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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.
$ G) a2 ~2 h xCDs could have different ratings, AAA -> F,
/ y4 @5 c& h8 J' K0 h' r1 xmore risky ones would have higher premium (interest rate) as a compensation for an investment.
' _& z( j, T" X9 u5 {main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,8 w0 h- Z! \! A/ f
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities./ M% e+ |# a b; ?( R) `
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
5 [9 ]4 |) W8 @+ @similar to bonds, CDs trading in the secondary market have different value at different times,
0 k% @, |9 H( ]. i2 s% L1 E) \normally the value is calculated by adding it's principle and interest. ; H; p5 }; M7 o3 f
eg. the value of the mortgage+the interests to be recieved in the future. : R$ r& _* F$ m+ W- ^7 `, c
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.
1 u: \+ ]( N8 @ i9 M) h! r5 d& Q, Q6 R9 R2 Q! r" D- G! b
im not quite sure if the multiplier effect does really matter in this case./ c) |7 e- x ]4 e
in stock market, it's the demand and supply pushing the price up/downwards.
0 a1 s! l- r( p: L" ~' uFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,9 X; V' u6 K; j. P) P7 b
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
- M9 ^/ N s6 J- @; o6 [& ~, TThe 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.
& b/ ^+ d1 I( D8 xbut the value of their assets did really drop significantly.
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$ K2 E, l4 a j! s1 A. i: a5 w[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
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