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發表於 2008-10-8 07:03 PM
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i thought it is the reason of rate of return.9 p8 |% K# s0 U* w5 h6 n
CDs could have different ratings, AAA -> F,
/ B$ b2 F, L3 n! ?1 zmore risky ones would have higher premium (interest rate) as a compensation for an investment.# W( g7 ^ L4 N/ E
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
6 R; A; `2 M5 ]in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
. [' h1 u; {# ?+ M) PAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.' _+ D. e8 ^0 U2 M; o! v6 R9 l' j
similar to bonds, CDs trading in the secondary market have different value at different times,
! F- }8 q' I- q( q6 I5 ]! v& m# U5 Knormally the value is calculated by adding it's principle and interest.
4 [& N+ o- b, k: neg. the value of the mortgage+the interests to be recieved in the future. " T# o5 C: W9 Z) j. A5 w; d, @
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.3 U0 Z3 b, C7 c5 T
; N% C/ o" t" A+ pim not quite sure if the multiplier effect does really matter in this case.
! l& P/ J3 d3 V# G% E. N) s1 y2 \in stock market, it's the demand and supply pushing the price up/downwards.! J, Y0 x7 x( v8 u+ j9 n7 j
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
) X ?" N9 P& gA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
) R0 M( X1 e9 Y: ~" D2 k3 LThe 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.
, }( P; N% @# @% sbut the value of their assets did really drop significantly.
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: z% |7 g1 r0 q" H[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
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