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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.
, D+ A% Y& k/ Z# q3 m/ P( lCDs could have different ratings, AAA -> F,
$ f/ b7 k, }/ s- f7 ?5 V ^more risky ones would have higher premium (interest rate) as a compensation for an investment.1 d. ~- g2 ?! y" g: }& E
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
9 Q ?, j* V; H8 y* Yin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
' B3 C0 b+ ^- j7 O: PAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
; C1 q9 |( Z3 n+ h; Z! x. Xsimilar to bonds, CDs trading in the secondary market have different value at different times,
; h, f! i5 U: R" q& l% anormally the value is calculated by adding it's principle and interest.
& m/ ~: n+ m5 `5 ^$ M. W% h1 ]eg. the value of the mortgage+the interests to be recieved in the future.
2 U7 m& ?; o5 I# G7 I5 E' Z G' xbanks 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.4 f" m& c- D& y' x* T
8 q1 ?2 Z7 @6 k% |. n1 S/ r" x8 \
im not quite sure if the multiplier effect does really matter in this case.
! K, ?) R7 E. \8 l3 Lin stock market, it's the demand and supply pushing the price up/downwards.0 W8 F* J/ t- {' A; l
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,' ?+ _2 E* r5 A0 k7 p: g0 E3 l
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
0 f$ W3 Q' f8 \, u6 E2 RThe 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.
3 a$ \! q4 Q8 V2 e: Obut the value of their assets did really drop significantly.* x: K8 N% K3 ]4 }
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[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
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