新概念英语第四册Lesson 48 Planning a share portfolio

Lesson 48
Planning a share portfolio¹
规划股份投资

First listen and then answer the following question.
听录音，然后回答以下问题。

How does the older investor² differ in his approach to investment from the younger investor?

There is no shortage of tipsters around offering 'get-rich-quick' opportunities. But if you are a serious private investor, leave the Las Vegas mentality³ to those with money to fritter. The serious investor needs a proper 'portfolio' -- a well-planned selection of investments, with a definite structure and a clear aim. But exactly how does a newcomer to the stock market go about achieving that?
Well, if you go to five reputable stock brokers⁵ and ask them what you should do with your money, you're likely to get five different answers, -- even if you give all the relevant information about your age age, family, finances and what you want from your investments. Moral? There is no one 'right' way to structure a portfolio. However, there are undoubtedly⁶ some wrong ways, and you can be sure that none of our five advisers⁷ would have suggested sinking all (or perhaps any) of your money into Periwigs*.
So what should you do? We'll assume that you have sorted out the basics -- like mortgages, pensions, insurance and access to sufficient cash reserves. You should then establish your own individual aims. These are partly a matter of personal circumstances, partly a matter of psychology⁸.
For instance, if you are older you have less time to recover from any major losses, and you may well wish to boost your pension income. So preserving your capital and generating extra income are your main priorities. In this case, you'd probably construct a portfolio with some shares (but not high risk ones), along with gilts¹⁰, cash deposits, and perhaps convertibles¹² or the income shares of split capital investment trusts.
If you are younger, and in a solid financial position, you may decide to take an aggressive approach -- but only if you're blessed with a sanguine¹³ disposition¹⁴ and won't suffer sleepless¹⁵ nights over share prices. If portfolio, alongside your more pedestrian in vestments. Once you have decided¹⁶ on your investment aims, you can then decide where to put your money. The golden rule here is spread your risk -- if you put all of your money into Periwigs International, you're setting yourself up as a hostage to fortune.
*'Periwigs' is the name of a fictitious¹⁷ company.
INVESTOR'S CHRONICLE, March 23 1990

New words and expressions 生词和短语
portfolio
n. 投资组合
tipster
n. （以提供证券投机等内部消息为主的）情报贩子
Las Vegas
n. 拉斯韦加斯
fritter
v. 挥霍，浪费
reputable
n. 享有声望的
broker⁴
n. 经纪人
finance
n. 资金，财源
mortgage
n. 抵押贷款
pension
n. 养老金
priority
n. 优先权
gilt⁹
n. 金边证券（高度可靠的证券）
convertible¹¹
n. 可换证券
sanguine
adj. 乐观的
heady
adj. 令人陶醉的
alongside
prep. 在……旁边，和……一起
pedestrian
adj. 平淡无奇的，乏味的


参考译文
我们周围不乏情报贩子，向人们提供迅速发财致富的机遇。但是，如果你是一个认真的私人投资者，就把拉斯韦加斯的心态留给那些有钱可供挥霍的人。认真的投资者需要一份正规的投资组合表 -- 一种计划很周密的投资选择，包括你的投资结构和明确的目标。但是, 一个股票市场的新手又如何能做到这一点呢？
如果你去向5位有威望的股票经纪人咨询，询问你应该如何使用你的资金，你可能得到5种不同的答复，即便你提供了有关于你的年龄、家庭、财源和你想从投资中获得好处的信息。这是个道德问题吗？没有一种完全“正确”的方法来排列这种投资组合，然而，却毫无疑问地有几种错误的方法。可以相信5位经纪人中不会有人建议你把全部（或一部份）资金投入佩里威格斯公司。
那么你该怎么做呢？我们假定你已把基本情况弄清楚了，如抵押贷款、养老金、保险金和动用现金储备的机会。然后，你一定要建立起自己的目标。这里一方面是个所处的环境，另一方面是个心理学的问题。
比如说，如果你年纪较大，你从重大投资损失中恢复过来的时间就较少，你就很希望能够提高你的养老金收入。因此，你的首要任务就是保护你的资金和引发额外的收入。在这种情况下，你大概想制定一份包括某些股份（但不是风险很大的股份）的投资组合，同时还有高度可靠的证券、现金储蓄，可能还有可换证券，或分割资本投资信托公司的所得股。
如果你年轻一些，并且经济状况可靠，你可能会采取一种积极进取的方式 -- 你必须性格开朗，不会因股票价格的浮动而夜不能眠。如果你觉得你的情况是这样的话，你可在投资组合中包括几项有令人陶醉的增值前景的增长股，和其他比较平淡的投资项目放在一起。一旦你的投资组合中包括几项有令人陶醉的增值前景的增长股，和其他比较平淡的投资项目放在一起。一旦你的投资目标确立以后，你就可以决定你的钱投向何处。这里的指导原则是：分散你的投资风险。如果你把所有资金投入佩里威格斯国际公司，你就把自己当成了命运的人质。

新概念英语默写本点击购买

新概念英语正版图书购买

1 portfolio   

n.公事包；文件夹；大臣及部长职位

参考例句：

• He remembered her because she was carrying a large portfolio.他因为她带着一个大公文包而记住了她。
• He resigned his portfolio.他辞去了大臣职务。

2 investor   

n.投资者，投资人

参考例句：

• My nephew is a cautious investor.我侄子是个小心谨慎的投资者。
• The investor believes that his investment will pay off handsomely soon.这个投资者相信他的投资不久会有相当大的收益。

3 mentality   

n.心理，思想，脑力

参考例句：

• He has many years'experience of the criminal mentality.他研究犯罪心理有多年经验。
• Running a business requires a very different mentality from being a salaried employee.经营企业所要求具备的心态和上班族的心态截然不同。

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 brokers   

n.（股票、外币等）经纪人( broker的名词复数 )；中间人；代理商；（订合同的）中人v.做掮客（或中人等）( broker的第三人称单数 )；作为权力经纪人进行谈判；以中间人等身份安排…

参考例句：

• The firm in question was Alsbery & Co., whiskey brokers. 那家公司叫阿尔斯伯里公司，经销威士忌。 来自英汉文学 - 嘉莉妹妹
• From time to time a telephone would ring in the brokers' offices. 那两排经纪人房间里不时响着叮令的电话。 来自子夜部分

6 undoubtedly   

adv.确实地，无疑地

参考例句：

• It is undoubtedly she who has said that.这话明明是她说的。
• He is undoubtedly the pride of China.毫无疑问他是中国的骄傲。

7 advisers   

顾问，劝告者( adviser的名词复数 )； （指导大学新生学科问题等的）指导教授

参考例句：

• a member of the President's favoured circle of advisers 总统宠爱的顾问班子中的一员
• She withdrew to confer with her advisers before announcing a decision. 她先去请教顾问然后再宣布决定。

8 psychology   

n.心理，心理学，心理状态

参考例句：

• She has a background in child psychology.她受过儿童心理学的教育。
• He studied philosophy and psychology at Cambridge.他在剑桥大学学习哲学和心理学。

9 gilt   

adj.镀金的；n.金边证券

参考例句：

• The plates have a gilt edge.这些盘子的边是镀金的。
• The rest of the money is invested in gilt.其余的钱投资于金边证券。

10 gilts   

n.镀金[银]材料，金[银]色涂层( gilt的名词复数 )；高度可靠的证券，金边证券；除去诱人的外表；让人扫兴

参考例句：

• They planned to have the gilts farrow down about the end of this month. 他们计划让母猪约在本月底下仔。 来自《现代英汉综合大词典》
• As bank base rates rise, the price of gilts falls. 如果银行基本利率上升，国债的价格就下跌。 来自互联网

11 convertible   

adj.可改变的，可交换，同意义的；n.有活动摺篷的汽车

参考例句：

• The convertible sofa means that the apartment can sleep four.有了这张折叠沙发，公寓里可以睡下4个人。
• That new white convertible is totally awesome.那辆新的白色折篷汽车简直棒极了。

12 convertibles   

n.可改变性，可变化性( convertible的名词复数 )；活动顶篷式汽车

参考例句：

• In Washington, the regulators did make a push to ban the manufacturing of convertibles. 华盛顿的各个管制机构曾经推动禁止敝篷车的制造。 来自辞典例句
• That's why they drive around in half-million-dollar convertibles? 因此他们就不惜花几千万美元来这里居住？ 来自电影对白

13 sanguine   

adj.充满希望的，乐观的，血红色的

参考例句：

• He has a sanguine attitude to life.他对于人生有乐观的看法。
• He is not very sanguine about our chances of success.他对我们成功的机会不太乐观。

14 disposition   

n.性情，性格；意向，倾向；排列，部署

参考例句：

• He has made a good disposition of his property.他已对财产作了妥善处理。
• He has a cheerful disposition.他性情开朗。

15 sleepless   

adj.不睡眠的，睡不著的，不休息的

参考例句：

• The situation gave her many sleepless nights.这种情况害她一连好多天睡不好觉。
• One evening I heard a tale that rendered me sleepless for nights.一天晚上，我听说了一个传闻，把我搞得一连几夜都不能入睡。

16 decided   

adj.决定了的，坚决的；明显的，明确的

参考例句：

• This gave them a decided advantage over their opponents.这使他们比对手具有明显的优势。
• There is a decided difference between British and Chinese way of greeting.英国人和中国人打招呼的方式有很明显的区别。

17 fictitious   

adj.虚构的，假设的；空头的

参考例句：

• She invented a fictitious boyfriend to put him off.她虚构出一个男朋友来拒绝他。
• The story my mother told me when I was young is fictitious.小时候妈妈对我讲的那个故事是虚构的。