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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.
' R* G* j8 s2 kCDs could have different ratings, AAA -> F,
. P2 F8 ^2 A3 X, tmore risky ones would have higher premium (interest rate) as a compensation for an investment.
# @+ c' U. m& h) Xmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
* E& S, C7 S/ k% Pin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
4 G' [4 u" W& z$ M. g5 {Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.3 x* } b/ [" r4 y' M( t, |6 a
similar to bonds, CDs trading in the secondary market have different value at different times,
& a1 ?- e0 n0 t: n& e& Vnormally the value is calculated by adding it's principle and interest. 5 a7 z0 y1 ^0 x) r0 B9 C$ @
eg. the value of the mortgage+the interests to be recieved in the future. $ D1 @$ ^1 C# l
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 ]3 C* _( I8 l# S* b
5 `4 O% P. r' X3 h1 w. _
im not quite sure if the multiplier effect does really matter in this case.' h2 }' F8 z/ u+ L H) {
in stock market, it's the demand and supply pushing the price up/downwards.0 D, r, P+ y+ F8 d
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
" u0 n! Z+ ~( vA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction., a ]! k/ m. j. l
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.
9 C& W- L9 Q! U7 p6 @. Q' }but the value of their assets did really drop significantly.
$ t9 k2 W6 s' O
+ z4 z( _8 n" z$ j[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
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