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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.
- P9 t, W2 r. m, K2 x+ ?CDs could have different ratings, AAA -> F,
) ~' s9 R2 W; F. p# omore risky ones would have higher premium (interest rate) as a compensation for an investment., C, ^7 f* D! P6 [8 \
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,! w+ g6 O. J0 |( w! e" P
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.( C$ l q! d: ^
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
- ]0 [( [. `7 s! Z( t+ k/ h% Qsimilar to bonds, CDs trading in the secondary market have different value at different times,
" g. S+ R5 @4 q8 _+ Q8 Fnormally the value is calculated by adding it's principle and interest.
1 p s" s4 g0 Q0 w) R$ n2 Weg. the value of the mortgage+the interests to be recieved in the future.
4 k5 L3 u$ |" Q7 d+ Q4 s' j" C6 Lbanks 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.
! d* Q! P+ x- Z0 |8 a! L4 h
' v6 p- z! e5 h' E( jim not quite sure if the multiplier effect does really matter in this case.
6 V4 P3 K$ n$ X; M0 |" g8 Cin stock market, it's the demand and supply pushing the price up/downwards.
; P' z, b* r- J' K! @: W" {2 DFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
9 ^1 e! N0 j, X* W/ n3 }. AA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
* ~" f/ Q* b% w: n4 b2 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. $ A Z/ ~! t6 |
but the value of their assets did really drop significantly.) C2 ] Q& x# ^
' V1 [8 q7 w1 b) k[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
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