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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.% Y% _; G `7 g" M0 J
CDs could have different ratings, AAA -> F,
, x$ g6 ?) K q, i0 X* ]3 f E9 Gmore risky ones would have higher premium (interest rate) as a compensation for an investment.
& O8 B" X0 H2 w3 M/ mmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
5 t+ E: w- i# S3 t8 J4 Cin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
& g' c' N" F# ~9 UAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
, a9 F+ E q( y1 v$ z" xsimilar to bonds, CDs trading in the secondary market have different value at different times,3 q$ Q( T' n' h$ ~) w0 c7 G
normally the value is calculated by adding it's principle and interest.
" @" S: ^* f# [eg. the value of the mortgage+the interests to be recieved in the future. ' M' Q) E+ k P. v3 Z# g
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.
5 Z' l' J8 A6 Q$ j7 |
7 @, R$ M- i$ R8 J- him not quite sure if the multiplier effect does really matter in this case.( k0 i8 l! u: [& a1 w% x- x
in stock market, it's the demand and supply pushing the price up/downwards.
+ @+ R6 v- k: Z5 hFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,+ v: B& f; O! s: _* D1 U% t$ c
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
' u) U; [$ Q5 q* R* VThe 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.
4 e( b& H2 j% G* w- C; n( I4 P. sbut the value of their assets did really drop significantly.$ V; G. w$ m4 ^0 `
5 G. h5 h7 B8 U0 r5 ~( j: {[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
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