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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.0 \5 w6 S/ n% ^6 ]# S( Z) D- u1 b: U
CDs could have different ratings, AAA -> F,5 O: X' M* C% _0 |, m9 ]/ ?9 m
more risky ones would have higher premium (interest rate) as a compensation for an investment.
# a. l8 u: g# x" [ a3 Rmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,. U% H/ [5 G3 p' @- o+ L2 | I
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
% j; c2 P) E# ?/ l4 Y% yAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
. \; k; W9 I, M, ?similar to bonds, CDs trading in the secondary market have different value at different times,
P( C+ V4 {9 Z# `2 enormally the value is calculated by adding it's principle and interest.
; e- r: w: ]" t peg. the value of the mortgage+the interests to be recieved in the future.
- o7 J' t6 G% z( n5 c5 x8 M7 @. |7 p; wbanks 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.9 T" @2 Z( c9 V$ H1 X0 f! j
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im not quite sure if the multiplier effect does really matter in this case.
' X6 P7 S7 f7 `/ din stock market, it's the demand and supply pushing the price up/downwards.% j4 c5 d4 n) P% j0 \ j
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
. ?# |- v3 ` `" N$ YA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
8 G3 W' K. z) YThe 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. 6 U1 `: G3 y7 b! z/ x
but the value of their assets did really drop significantly.
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4 \( v w `7 L" ?3 ?! }5 L[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
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