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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., _' Q: v7 l3 ]) Z' T) x. ]
CDs could have different ratings, AAA -> F,
( Q' C: V- U) c1 I0 Wmore risky ones would have higher premium (interest rate) as a compensation for an investment.
+ _& E! I l& W/ N( Q: J& Emain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
9 v/ |( V$ L. a! @/ b: v7 Pin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
, S1 s% u/ @4 \) o% zAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
* S& s( g9 I8 Q. f8 v9 J# \similar to bonds, CDs trading in the secondary market have different value at different times,, N& j$ [. g( h$ k" {+ H; l, a2 Y
normally the value is calculated by adding it's principle and interest. ' Y7 L! N2 J7 N- N
eg. the value of the mortgage+the interests to be recieved in the future.
3 a, B. e9 ?/ {0 j5 W0 \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.
0 M" Z, J& a% u6 J$ a9 f# K- N+ X% W5 g* g$ p
im not quite sure if the multiplier effect does really matter in this case.
4 r, [3 F4 ]% e. e2 D. Din stock market, it's the demand and supply pushing the price up/downwards.# R+ M9 h/ b0 I- q& x
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
! u/ z5 P& M' i% P+ [A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.6 L; ^" k2 B& S! i7 J. r$ q% d8 i
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.
: L; `0 K k) k, x bbut the value of their assets did really drop significantly.2 H& \# s5 {$ |0 l. b. P
7 F8 Q9 g) ]9 a D, p: M" ]) ]
[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
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