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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.* M2 ]. q4 u! n- N# b1 j. i
CDs could have different ratings, AAA -> F,5 B% \1 I5 ]/ r _& X8 _0 l
more risky ones would have higher premium (interest rate) as a compensation for an investment.
) e) ]# ^) g7 K4 i/ Wmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
x; x7 h) P5 Sin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
3 D4 e! Z# I" o! Z8 MAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
) s5 o/ h# @" O( @similar to bonds, CDs trading in the secondary market have different value at different times,
; L4 }) p8 c( a" L) s: ~( Nnormally the value is calculated by adding it's principle and interest.
* j% |9 j' S5 e/ teg. the value of the mortgage+the interests to be recieved in the future.
% r! T0 D, G4 Jbanks 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.
/ J3 m, K; e, d4 D
6 ]! ~4 e" e5 G, sim not quite sure if the multiplier effect does really matter in this case.
) d6 g0 F( W$ n! i! Win stock market, it's the demand and supply pushing the price up/downwards. K) i6 Z# L9 Y/ A6 i6 A: ]
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
& u8 F9 m! t' q8 S# Z9 S( w% tA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.5 i$ m Y/ @* _+ D% K# `: e
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.
/ _2 m6 c" s9 {. [but the value of their assets did really drop significantly.; {& y* Q) p! c3 x
( ?9 Z8 v0 L( w {2 B
[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
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