2021年经济学人 零售投资：Robinhood和满心欢喜的散户（1）

Finance & economics

财经板块

Retail¹ investing: Robinhood and the merry mob

零售投资：Robinhood和满心欢喜的散户

IT WOULD BE hard for a firm that describes itself as “democratising investing” to go public in any other way.

对于一家自称“投资民主化”的公司来说，想以任何其他方式上市都会很困难。

When Robinhood lists on the Nasdaq on July 29th after the Economist² goes to press, institutional investors³ will, as is usual, be able to buy and trade shares on the exchange.

《经济学人》付印后，Robinhood于7月29日在纳斯达克上市，机构投资者将像往常一样，可以在交易所购买和交易股票。

Less conventionally, the broker⁴ also plans to sell a third of the shares itself to its users.

与往常不同的是，Robinhood还打算将三分之一的股票出售给用户。

Your correspondent felt a frisson of excitement as she took part in an initial public offering (or IPO) for the first time, bidding for a single share in Robinhood.

当你的记者第一次参与首次公开募股(IPO)，竞拍Robinhood的一份份额时，她兴奋到发抖。

The slick graphics⁵ explained how IPO shares are allocated⁶, and reassured⁷ punters that—as is not the case at other brokers—order size, assets and the age of the account would play no part in whether a bid was accepted or not.

这张精美的图表解释了IPO股票是如何分配的，并向投资者保证，订单规模、资产和账户年龄与出价是否被接受无关——这在其他经纪商那里是没有的待遇。

Before most firms go public they do a roadshow, which typically involves investment bankers compiling snazzy slideshows,

大多数公司在上市前都会进行路演，投资银行家们通常会汇集漂亮的幻灯片，

donning their sharpest suits and fanning out to meeting rooms in big cities to canvass⁸ support from pension funds, asset managers and other institutional investors.

穿上最时髦的西装，在全国各地大城市召开会议，争取养老基金、资产管理公司和其他机构投资者的支持。

Robinhood instead made its 40-minute pitch online to anyone who wanted to listen, on the Saturday afternoon ahead of its debut⁹.

相反，Robinhood在上市前的周六下午，向所有想听的人进行了长达40分钟的在线宣传。

The anti-establishment approach is all too fitting.

这种一反常态的方式非常应景。

No other company’s fortunes have been as tied to the craze for meme stocks, fuelled by online forums¹⁰ and lockdown-induced spare time.

没有哪家公司的命运像它一样，与网络论坛和疫情封锁产生的空闲时间所引发的股票热潮密切相关。

Robinhood, which will go public at a valuation of $32bn, has seen its user base explode during the pandemic.

Robinhood将以320亿美元的估值上市，它的用户群在疫情期间激增。

Its prospects¹¹ are likely to be determined¹² by wherever the retail mania¹³, the subject of much regulatory hand-wringing, goes next.

它的前景很可能取决于零售狂热的风向，这是许多监管机构束手无策的现象。

1 retail   

v./n.零售；adv.以零售价格

参考例句：

• In this shop they retail tobacco and sweets.这家铺子零售香烟和糖果。
• These shoes retail at 10 yuan a pair.这些鞋子零卖10元一双。

2 economist   

n.经济学家，经济专家，节俭的人

参考例句：

• He cast a professional economist's eyes on the problem.他以经济学行家的眼光审视这个问题。
• He's an economist who thinks he knows all the answers.他是个经济学家，自以为什么都懂。

3 investors   

n.投资者，出资者( investor的名词复数 )

参考例句：

• a con man who bilked investors out of millions of dollars 诈取投资者几百万元的骗子
• a cash bonanza for investors 投资者的赚钱机会

4 broker   

n.中间人，经纪人；v.作为中间人来安排

参考例句：

• He baited the broker by promises of higher commissions.他答应给更高的佣金来引诱那位经纪人。
• I'm a real estate broker.我是不动产经纪人。

5 graphics   

n.制图法，制图学；图形显示

参考例句：

• You've leveraged your graphics experience into the video area.你们把图形设计业务的经验运用到录像业务中去。
• Improved graphics took computer games into a new era.经改进的制图技术将电脑游戏带进了一个新时代。

6 allocated   

adj. 分配的 动词allocate的过去式和过去分词

参考例句：

• The Ford Foundation allocated millions of dollars for cancer research. 福特基金会拨款数百万美元用于癌症研究。
• More funds will now be allocated to charitable organizations. 现在会拨更多的资金给慈善组织。

7 reassured   

adj.使消除疑虑的；使放心的v.再保证，恢复信心( reassure的过去式和过去分词)

参考例句：

• The captain's confidence during the storm reassured the passengers. 在风暴中船长的信念使旅客们恢复了信心。 来自《现代英汉综合大词典》
• The doctor reassured the old lady. 医生叫那位老妇人放心。 来自《简明英汉词典》

8 canvass   

v.招徕顾客，兜售；游说；详细检查，讨论

参考例句：

• Mr. Airey Neave volunteered to set up an organisation to canvass votes.艾雷·尼夫先生自告奋勇建立了一个拉票组织。
• I will canvass the floors before I start painting the walls.开始粉刷墙壁之前，我会详细检查地板。

9 debut   

n.首次演出，初次露面

参考例句：

• That same year he made his Broadway debut, playing a suave radio journalist.在那同一年里，他初次在百老汇登台，扮演一个温文而雅的电台记者。
• The actress made her debut in the new comedy.这位演员在那出新喜剧中首次登台演出。

10 forums   

讨论会； 座谈会； 广播专题讲话节目； 集会的公共场所( forum的名词复数 )； 论坛，讨论会，专题讨论节目； 法庭

参考例句：

• A few of the forums were being closely monitored by the administrators. 有些论坛被管理员严密监控。
• It can cast a dark cloud over these forums. 它将是的论坛上空布满乌云。

11 prospects   

n.希望，前途(恒为复数)

参考例句：

• There is a mood of pessimism in the company about future job prospects. 公司中有一种对工作前景悲观的情绪。
• They are less sanguine about the company's long-term prospects. 他们对公司的远景不那么乐观。

12 determined   

adj.坚定的；有决心的

参考例句：

• I have determined on going to Tibet after graduation.我已决定毕业后去西藏。
• He determined to view the rooms behind the office.他决定查看一下办公室后面的房间。

13 mania   

n.疯狂；躁狂症，狂热，癖好

参考例句：

• Football mania is sweeping the country.足球热正风靡全国。
• Collecting small items can easily become a mania.收藏零星物品往往容易变成一种癖好。