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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.# P6 I" |: l0 ?4 j- w1 ]
CDs could have different ratings, AAA -> F,2 v, N7 |2 X9 G) l/ I; y2 F
more risky ones would have higher premium (interest rate) as a compensation for an investment.2 d9 B y |/ {5 ^
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,% _8 x5 _- ~4 j4 D) R" ?8 g# K) u
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
7 n( E# y. X, B6 Z& c) XAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.& r7 N5 R( a6 d1 p. @0 S
similar to bonds, CDs trading in the secondary market have different value at different times,
" U, O+ a! I7 b' g$ z6 A( rnormally the value is calculated by adding it's principle and interest. 7 M$ r9 n) C# p0 c" q
eg. the value of the mortgage+the interests to be recieved in the future.
) V1 l" w& S; U# ^. p7 r, Cbanks 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., {; l, m# N8 w, u
9 i, y# A1 Q$ H, oim not quite sure if the multiplier effect does really matter in this case.
& [3 a6 q* f8 I9 `4 Tin stock market, it's the demand and supply pushing the price up/downwards.
% p! _+ b* i1 e2 y" Y8 c: |For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,9 K5 H T( G8 K; H% [
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.9 `) B" n! }' v( e! R% b2 d
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. ( _, J" H, o3 F- q
but the value of their assets did really drop significantly.! S) o) H) ~) X, \+ C9 Z
3 i/ {& d* A2 B& H6 ?' r' ~- a[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
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