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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.# @6 f2 I6 z" w. a: Z' I
CDs could have different ratings, AAA -> F,
8 Y' W+ {, n2 kmore risky ones would have higher premium (interest rate) as a compensation for an investment.
9 K' H; p, f$ Q# B/ Qmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
7 x6 k* _$ c! }+ Z! yin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities., u/ j2 g3 ~) R0 l6 `
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.+ {( z, L; B4 d0 e
similar to bonds, CDs trading in the secondary market have different value at different times," L# @. p4 w# Y* I$ c
normally the value is calculated by adding it's principle and interest.
$ q4 w' b2 J3 t9 d: aeg. the value of the mortgage+the interests to be recieved in the future.
3 ~ U( q9 s7 S0 }6 S9 kbanks 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.$ r! N, A7 p X
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im not quite sure if the multiplier effect does really matter in this case.
+ q9 ~ i& t7 d0 K- Ein stock market, it's the demand and supply pushing the price up/downwards.
) X; {6 p9 N c" L( Y0 _+ R" tFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
" a: I) f w! F2 i- y; d' e# SA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.* }7 K3 s1 W o8 J. l P3 c
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.
+ X4 O* R2 J, d+ u9 |, gbut the value of their assets did really drop significantly.7 K4 Z' W$ h6 l: ^& i
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[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
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