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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.; Z2 P/ I$ j% | h: e e; g
CDs could have different ratings, AAA -> F,- t8 D$ {4 [1 `2 B; J6 T0 h: d+ W3 V
more risky ones would have higher premium (interest rate) as a compensation for an investment.
o3 h, b" E! g! q9 Y# rmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
* O, v. k" @: `- A/ vin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
: A4 Q' g% e, u$ \" ?Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
; `6 `& ~' Y' I' T3 Asimilar to bonds, CDs trading in the secondary market have different value at different times,
7 J, y6 x3 g5 xnormally the value is calculated by adding it's principle and interest. # U- z+ Q+ A) y$ g' A
eg. the value of the mortgage+the interests to be recieved in the future. # k- S, x# j j' J
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.1 p/ F7 ]7 n- J% v$ K* ]$ X+ U
) H' _7 D* E2 }7 p6 u* Yim not quite sure if the multiplier effect does really matter in this case.
6 ~' }$ ?5 v) Din stock market, it's the demand and supply pushing the price up/downwards.6 v; ^1 `; s5 B3 q! ]0 v: O4 B
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
% x" y% m0 T' O% u9 Y. V RA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.$ t9 d4 _; E6 I
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. ; D) I8 h/ M8 G; c6 l: Q6 f3 U
but the value of their assets did really drop significantly.
m. ` I( B) Q- b2 i/ M# E; d8 B* H F# v
[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
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