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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.
' r# B! b8 l7 i2 Q: S* [CDs could have different ratings, AAA -> F,2 I. l+ q' w- p1 I( Y: ]$ Y }
more risky ones would have higher premium (interest rate) as a compensation for an investment.1 {! Y. S; J5 B/ Y2 _6 {* i3 D
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
* a' O& n$ K7 ?2 P) V+ ~in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
7 s: |5 s+ T5 r* y" A3 `# OAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
8 \8 I: M# A: m8 N B/ w( |similar to bonds, CDs trading in the secondary market have different value at different times,
8 B4 q5 I, H) ?3 Pnormally the value is calculated by adding it's principle and interest.
& z) ^, W9 ?+ C: g; Neg. the value of the mortgage+the interests to be recieved in the future. / y1 k- ]8 ~: R/ W
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.& X3 u. R1 [; o' G
3 }" U2 q/ S8 d% e, S4 qim not quite sure if the multiplier effect does really matter in this case.
0 |; m/ ~9 B# |, a1 Lin stock market, it's the demand and supply pushing the price up/downwards.
9 m, R# y" t+ W1 sFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,. f# l K) m. N3 b1 m: e! V1 {$ A
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
" f; n. @& P* J3 g2 F, 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. 8 C* l4 O# t, S+ j
but the value of their assets did really drop significantly.9 e& V8 Y3 @ t/ u. l7 s
g v/ H+ Q4 m: { F
[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
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