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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.# W0 }4 M- \ {" w4 d$ m/ r8 U9 d
CDs could have different ratings, AAA -> F,' ]4 Q% ?% E( O: |
more risky ones would have higher premium (interest rate) as a compensation for an investment.+ C6 l' t5 b9 j& S9 y
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,* c( r3 Y* y: W v4 ]
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
* z+ N( ]0 K; N* | r8 \) jAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.( w! C( M/ ^4 b
similar to bonds, CDs trading in the secondary market have different value at different times,
: }* e3 g5 c$ I/ G4 ]% |; x7 J* Hnormally the value is calculated by adding it's principle and interest. 0 S2 h: M% v5 [$ }2 E6 s2 t
eg. the value of the mortgage+the interests to be recieved in the future. $ H+ x' H+ B3 _+ g c! y& _' g4 h0 o
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.
+ y- n7 u6 I1 n* h, B& w: [0 |! }. [. Q& r* O' o8 B2 a. Z
im not quite sure if the multiplier effect does really matter in this case.
6 X0 [8 E: O# c, gin stock market, it's the demand and supply pushing the price up/downwards.% b, D5 F: ~, Z6 w) _9 d
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
' z# w2 s5 E- i; d; M9 O* XA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.: Q( t+ l" M e; a6 r' Y
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.
' X* D9 R, D7 tbut the value of their assets did really drop significantly.
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4 V0 O! M1 f7 F9 Z" Q1 g/ S: ?[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
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