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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.1 [$ B+ X' a' A, r K) z
CDs could have different ratings, AAA -> F,7 \4 f1 u8 I9 n, Y
more risky ones would have higher premium (interest rate) as a compensation for an investment., ~. ~! I# U$ k; q) V0 ~. V& j
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,5 O1 l3 A# O( d, }9 t/ h3 H+ O
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
5 X9 o# L' x, H' jAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
: w2 d9 g0 @5 L; D2 asimilar to bonds, CDs trading in the secondary market have different value at different times,3 @" {+ \7 N+ |, [2 X
normally the value is calculated by adding it's principle and interest.
! @( g0 q3 i9 {! w# \7 }eg. the value of the mortgage+the interests to be recieved in the future. 8 M7 U5 b7 Y, |3 p$ h' [0 R
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.
7 p) q3 J' k7 _% x8 k
D1 H0 a1 ]6 t$ o4 p: \+ e6 I. Z" Him not quite sure if the multiplier effect does really matter in this case.
' D- h/ i" ?1 J! R$ Hin stock market, it's the demand and supply pushing the price up/downwards.% ?2 R6 w3 e2 Y6 P7 i
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,# K% o$ X# j/ Z% t
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
) }! X, p$ r ?$ kThe 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. $ x9 Y0 y. o7 q6 N# |
but the value of their assets did really drop significantly.6 _. }9 o, Q# A- e
$ [7 w6 m; { V1 ][ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
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