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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.
; I/ ]! O8 V4 RCDs could have different ratings, AAA -> F,
* |( s9 b& a, i0 D4 t( amore risky ones would have higher premium (interest rate) as a compensation for an investment." s, D! K. g1 z" P) J p1 K2 U3 c) P
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,7 o3 n& Y& f# s5 i: L/ g
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
% j+ }( W. O% i: k" ?Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.; f8 M* _4 S U# q
similar to bonds, CDs trading in the secondary market have different value at different times,
# d% w0 I$ `% K: h+ K' o3 U7 wnormally the value is calculated by adding it's principle and interest.
h( `/ x% n; G) ?' Leg. the value of the mortgage+the interests to be recieved in the future. D2 F/ r: r& D0 ^
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.
0 M2 ]+ i" y6 j. W8 E' _, @, D
8 e5 y$ O" P8 h% U7 R+ ]/ cim not quite sure if the multiplier effect does really matter in this case.
& B3 r7 \, i6 Qin stock market, it's the demand and supply pushing the price up/downwards.
+ b+ s0 S A+ D1 OFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
* p4 o8 T2 p# K6 [A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.5 E/ l: F1 N* l% [5 H: 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.
/ T) W4 c h+ n! {but the value of their assets did really drop significantly.
/ P, v$ l8 G# w! z( w, H0 }9 w
% d& ]/ ]6 k4 T3 A/ F( S[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
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