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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., I R" }6 R5 j% y2 K
CDs could have different ratings, AAA -> F,
' q: l0 V, \$ M' Bmore risky ones would have higher premium (interest rate) as a compensation for an investment.
1 _; v" P: L/ B& \5 Pmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,; A4 V# E, }' d$ Q8 p+ V+ u
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
+ `& l P$ ^" G4 B4 X, @Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.( E/ |& o2 n5 K+ ~) v- m
similar to bonds, CDs trading in the secondary market have different value at different times,
, }0 a+ ~# i( A) I7 |' lnormally the value is calculated by adding it's principle and interest.
. T8 Y" G2 X' _6 weg. the value of the mortgage+the interests to be recieved in the future.
7 |. Q* {8 j2 N6 W+ T7 Cbanks 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.
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6 V2 ?# `& h& ~' a( ]im not quite sure if the multiplier effect does really matter in this case.
4 `5 \9 ?* W3 Bin stock market, it's the demand and supply pushing the price up/downwards.
+ P5 Z" Q/ H4 X- V6 m3 H' NFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
- Y; \, x! V, hA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.2 e6 [6 d" ^/ T* A: n) z. F
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. , n' F- G& I" _6 `
but the value of their assets did really drop significantly.. A7 l, W& h7 g) d) n& f
/ l2 M1 J% ^% k, F[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
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