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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.
0 V+ Z5 @/ T9 x, A1 ^" } eCDs could have different ratings, AAA -> F,( O/ u9 `6 n: p7 f: @
more risky ones would have higher premium (interest rate) as a compensation for an investment.* A( P }% \* I* {
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,! o8 F, O# D, I8 e9 I# }
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.( n+ K! g% E# A1 J1 B) P% N
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
, O, C$ |3 h$ \. |, A# Isimilar to bonds, CDs trading in the secondary market have different value at different times,; R; ~! i3 e: N/ J; ]* O
normally the value is calculated by adding it's principle and interest. % I$ v0 X3 T# y
eg. the value of the mortgage+the interests to be recieved in the future. 8 Q+ r1 m& i1 s. r) S5 R
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.
, `9 Q1 l8 J; g' k7 R
1 r. ^/ B$ W5 g7 d) `! him not quite sure if the multiplier effect does really matter in this case.
8 `( ^5 Y) m7 @in stock market, it's the demand and supply pushing the price up/downwards.6 f# a# ^& v0 Q
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,& z3 `- `3 y6 g
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.( ~# e6 [: }7 j# C4 k6 E& H. \
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.
6 t, F% _5 J. m$ E" i% Sbut the value of their assets did really drop significantly.
5 E$ c9 ~3 D% ^' n) F( X- Z% q2 Q! d' D$ N4 Q
[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
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