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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.
+ [* e0 r6 R2 y; Z2 iCDs could have different ratings, AAA -> F,
& d; s! {. I2 E( g( @more risky ones would have higher premium (interest rate) as a compensation for an investment.6 c( F& E4 F1 ^" M( R/ b9 V: r0 c0 c
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
6 }4 I9 q; r% k9 r9 `8 Hin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.8 X: }# {, ?! c# U* P2 }2 T3 ~) w
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency. y; }6 J1 S; a7 ?7 z; W, C
similar to bonds, CDs trading in the secondary market have different value at different times,9 {9 S8 a, v; C# E- i0 K$ ?7 A1 V
normally the value is calculated by adding it's principle and interest.
+ F. p- C3 d6 v8 O! E! heg. the value of the mortgage+the interests to be recieved in the future.
& X' u2 ?; C: wbanks 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.. w- \8 S6 a& o2 }
, h7 z7 J8 S6 N# R/ B/ O4 \5 W& W
im not quite sure if the multiplier effect does really matter in this case.
) o5 x( q& h, r7 N e9 o/ Y5 r: Ein stock market, it's the demand and supply pushing the price up/downwards.1 w( N6 M! `( d$ V( V
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,) [1 ]9 q0 ^0 p, e6 l
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.7 J1 j3 J8 d6 S) C$ R8 A
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. 2 _( b5 P& p& W: Y, a
but the value of their assets did really drop significantly.
, j. j* u E' ^$ R0 T$ x+ G! q( i I! c
[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
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