有声英文阅读-共同基金大不同

All for One and One for All
共同基金大不同

Financial investment is a game of risks and rewards, the object being to minimize the former and maximize the latter. Concentrating investment capital carries the greatest potential for high dividends,1 but also involves enormous risk as the failure of one or two companies could seriously damage your portfolio².2

One solution to this problem is mutual³ funds. Pooling the resources of a group of investors⁴ in the interest of sharing the risks and diversifying3 their portfolios⁶, this system distributes the capital over a wide range of stocks and bonds and spreads the risks over the group. This reduces the impact of the occasional failure. Moreover, trading as a single entity⁷ significantly reduces trading costs.

The first official mutual fund, the Massachusetts Investors Trust, was established in 1924. It experienced growth of more than 700 percent in its first year, and other success stories followed. The stock market crash of 1929 crippled the investment climate for some time. However it provided the impetus⁸ to create the U.S. Securities and Exchange Commission and pass the Investment Company Act of 1940. This set the guidelines that fund companies follow to this day.

Nowadays, with 83 million investors and 7 trillion dollars in assets in the United States alone, mutual funds are a very popular choice for those seeking a skilled intermediary between their savings⁹ and the volatile4 marketplace.
 
1. dividend¹ n. 股息
2. portfolio n. 有价证券或其目录
3. diversify⁵ v. 使多样化
4. volatile¹⁰ a. 易变的

金融投资是一种风险和赢利的游戏，其目标是将前者降至最低，后者最大限度地提高。集中投资的资本可能会带来高额股利的最大潜力，但同时也伴随着巨大的风险，因为一两家公司的破产就有可能让你的有价证券损失惨重。

解决这个问题的一个办法是建立共同基金。为了分担风险和多元经营有价证券，可以募集一组投资者的资金，在大范围的股票和债券上对它们进行分配，分散组内投资人的风险。这样就能减少偶发的失利带来的冲击。此外，以单一实体进行交易大大降低交易成本。

第一个官方共同基金——马萨诸塞投资者信托建立于1924年。这个共同基金第一年就扩大了七倍多，以后的成绩也不错。1929年美国股市暴跌，投资气候因此而低迷瘫痪了好一段时间，但也因此而推动了美国证券交易管理委员会的创立和1940年《投资公司法案》的通过，制定了投资公司至今仍然遵循的方针。

现在，共同基金仅在美国就有8300万投资者和7万亿美元的资产，对于那些想寻找有经验的中介在他们的存款和变幻莫测的市场之间起媒介作用的人来说，共同基金是一项非常受欢迎的选择。

1 dividend   

n.红利，股息；回报，效益

参考例句：

• The company was forced to pass its dividend.该公司被迫到期不分红。
• The first quarter dividend has been increased by nearly 4 per cent.第一季度的股息增长了近 4%。

2 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。

3 mutual   

adj.相互的，彼此的；共同的，共有的

参考例句：

• We must pull together for mutual interest.我们必须为相互的利益而通力合作。
• Mutual interests tied us together.相互的利害关系把我们联系在一起。

4 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

5 diversify   

v.（使）不同，（使）变得多样化

参考例句：

• Our company is trying to diversify.我们公司正力图往多样化方面发展。
• Hills and woods diversify the landscape.山陵和树木点缀景色。

6 portfolios   

n.投资组合( portfolio的名词复数 )；（保险）业务量；（公司或机构提供的）系列产品；纸夹

参考例句：

• Price risk arises in non-trading portfolios, as well as in trading portfolios. 价格风险中出现的非贸易投资，以及在贸易投资组合。 来自互联网
• How do we fatten our portfolios and stay financially healthy? 我们怎样育肥我们的投资结构和维持财政健康呢？ 来自互联网

7 entity   

n.实体，独立存在体，实际存在物

参考例句：

• The country is no longer one political entity.这个国家不再是一个统一的政治实体了。
• As a separate legal entity,the corporation must pay taxes.作为一个独立的法律实体，公司必须纳税。

8 impetus   

n.推动，促进，刺激；推动力

参考例句：

• This is the primary impetus behind the economic recovery.这是促使经济复苏的主要动力。
• Her speech gave an impetus to my ideas.她的讲话激发了我的思绪。

9 savings   

n.存款，储蓄

参考例句：

• I can't afford the vacation,for it would eat up my savings.我度不起假，那样会把我的积蓄用光的。
• By this time he had used up all his savings.到这时，他的存款已全部用完。

10 volatile   

adj.反复无常的，挥发性的，稍纵即逝的，脾气火爆的；n.挥发性物质

参考例句：

• With the markets being so volatile,investments are at great risk.由于市场那么变化不定，投资冒着很大的风险。
• His character was weak and volatile.他这个人意志薄弱，喜怒无常。