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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.
; n( K5 R2 e, ^) k7 Y5 z, {7 \' o! `+ \CDs could have different ratings, AAA -> F,
+ W0 h+ V& Z/ @" J/ R" o* dmore risky ones would have higher premium (interest rate) as a compensation for an investment.4 B/ R5 @# Q$ c3 _ ]- [
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,2 x( P; H! N9 p2 k+ a
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
; {7 Q- O: |4 Q6 L" G5 _& |6 `Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.$ B/ q1 Q% I$ ]1 Z, J- D3 t. E
similar to bonds, CDs trading in the secondary market have different value at different times,4 L- i; B% n0 c6 j- |, S
normally the value is calculated by adding it's principle and interest.
+ J: y7 A" a+ ~: }/ d" Veg. the value of the mortgage+the interests to be recieved in the future. 1 J5 n Z, O, J" Q5 k6 Q
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.
a+ x# G: J/ }" j# B; n
9 y. g- q; ~# n. [% Kim not quite sure if the multiplier effect does really matter in this case.) A+ ~# z- a1 y- }/ N M
in stock market, it's the demand and supply pushing the price up/downwards.
, c+ v5 M1 \( \2 J6 RFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
- A: f0 t* X2 u+ e# e$ |0 WA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
4 {; o2 Z" F8 t$ k) 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 k& U! q1 K0 X$ r. r' w
but the value of their assets did really drop significantly.
; a/ U" A! F, J* z/ _ l# F- {% e! o% p/ V
[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
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