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發表於 2008-10-8 07:03 PM
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i thought it is the reason of rate of return.
9 U) a- c8 N: Q$ E5 u0 ^CDs could have different ratings, AAA -> F,: q8 M7 H* p: q5 F' ?! q
more risky ones would have higher premium (interest rate) as a compensation for an investment.) o3 v) d2 j) ]! R/ k
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
/ z7 W! o+ i. M! ein other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
& H. J% x* q8 E' n! kAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency./ p& J3 c0 M8 v9 o
similar to bonds, CDs trading in the secondary market have different value at different times,) J/ M9 X* x+ }$ t7 n
normally the value is calculated by adding it's principle and interest.
1 [% Q4 L6 C# ~: a( X; Ueg. the value of the mortgage+the interests to be recieved in the future. 1 q9 s- k- H+ I# |5 K# R; F
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.
- m4 {; Y3 T+ C: L( R6 y& K
) K4 ~* S5 V1 p/ _6 G3 T6 |3 Jim not quite sure if the multiplier effect does really matter in this case.
) x7 x) O# x) H* {( b+ D, s* sin stock market, it's the demand and supply pushing the price up/downwards.7 f* @5 t; n' Q9 n, p
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,8 e% A4 A' _- Z9 i! j
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.% [! _. P, p) b: i1 r) H6 `" }
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.
@. _5 H, _: h% M# @ rbut the value of their assets did really drop significantly.
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( R) G {, s, i6 M0 c' H4 y[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
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