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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. a9 c7 y2 J: e, S3 _) J2 ^; A
CDs could have different ratings, AAA -> F,& }* Y4 B$ D( c
more risky ones would have higher premium (interest rate) as a compensation for an investment.7 \2 S! t1 @" { ]' c
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,0 m h$ J# u9 R% M F
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.# J( Q3 U! G: j& p8 l8 K" L
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
2 \6 L/ D5 o6 Q: Z& S$ |& V& |4 Asimilar to bonds, CDs trading in the secondary market have different value at different times,' q7 Q, I* }' {# S7 ?+ l- y2 S
normally the value is calculated by adding it's principle and interest.
% c% m' T. O+ N% J" y/ h! I7 `4 Deg. the value of the mortgage+the interests to be recieved in the future.
, O* G0 u% }5 v+ M! x! Ebanks 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.# A. Z8 P* V7 B5 c) ~( |0 y
" F4 q$ j2 x+ i4 x+ him not quite sure if the multiplier effect does really matter in this case.& f$ _2 i/ F9 B" W+ S
in stock market, it's the demand and supply pushing the price up/downwards.. |1 d: D; ^+ P0 Y6 f) e
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,' w2 K8 _8 D) ?7 Z3 Z& g: a6 b
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction. i/ V! K. |3 E; s! k" a* S
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. 1 d8 ]# i: Q! @, ~( A3 M2 _
but the value of their assets did really drop significantly.5 S% c- y* B2 \
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[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
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