《趣味科普學英語》介紹
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導讀
世界上第一家股票市場由荷蘭東印度公司建立，本期節目將介紹股票市場的起源、運作流程和現況。
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中英文文本
在17世紀 荷蘭東印度公司
In the 1600s the Dutch East India Company
僱傭了數百艘船隻
employed hundreds of ships
在全球範圍內買賣黃金 瓷器 香料和絲綢
to trade gold, porcelain, spices and silks around the globe.
但是經營這個龐大業務的成本並不低
But running this massive operation wasn’t cheap.
為了資助他們昂貴的航海出行
In order to fund their expensive voyages,
該公司轉而求助於普通民眾
the company turned to private citizens–
即那些能夠出資支持航行
individuals who could invest money to support the trip
以換取一份船隊利潤的個人
in exchange for a share of the ship’s profits.
這種做法使該公司得以負擔規模更大的航行
This practice allowed the company to afford even grander voyages
從而增加公司自身
increasing profits for both themselves
與其精明的投資者的收益
and their savvy investors.
通過在歐洲大陸上遍布的咖啡館
Selling these shares in coffee houses
及港口兜售這些股份
and shipping ports across the continent,
荷蘭東印度公司不知不覺間創造了
the Dutch East India Company unknowingly invented
世界首個股票市場
the world’s first stock market.
自那以後 公司便一直從有意願的投資者手中
Since then, companies have been collecting funds
募集資金來支撐各種業務
from willing investors to support all kinds of businesses.
如今 股票市場催生了很多學派 職業
And today, the stock market has schools, careers
甚至還出現了致力於理解它的完整的電視頻道
and even whole television channels dedicated to understanding it.
但現在的股票市場明顯比它的前身複雜得多
But the modern stock market is significantly more complicated than its original incarnation.
那麼現在的公司和投資者是如何運作市場的呢
So how do companies and investorsuse the market today?
想像有一個全新的咖啡公司
Let’s imagine a new coffee company
決定首次上市
that decides to launch on the market.
首先 公司會向大股東推銷自己
First, the company will advertise itselfto big investors.
如果大股東認為這公司不錯
If they think the company is a good idea,
他們就會嘗試投入第一桶金
they get the first crack at investing,
然後贊助這個公司的首次公開募股 簡稱 IPO
and then sponsor the company’s initial public offering, or IPO.
公司由此正式邁進公開市場
This launches the company onto theofficial public market,
公開市場中的任何公司或個人
where any company or individual who
若相信這個公司能夠盈利
believes the business could be profitable
都可能會購買股票
might buy a stock.
購買股票使那些投資者成為該公司的部分所有者
Buying stocks makes those investorspartial owners in the business.
他們的投資會幫助公司成長壯大
Their investment helps the company to grow
並且隨著公司發展得越來越成功
and as it becomes more successful,
更多的買家將會發現它的潛力並開始購買股票
more buyers may see potential and start buying stocks.
隨著那些股票需求的增長
As demand for those stocks increases,
它們的價格也會隨之上漲 從而增加潛在買家的成本
so does their price, increasing the cost for prospective buyers,
使人們已持有的公司股票得到升值
and raising the value of the company’sstocks people already own.
這部分增加的收益能為公司的新舉措提供資金
For the company, this increased interest helpsfund new initiatives,
也能以展示他們公司贏得多少投資者青睞的方式
and also boosts its overall market value
來拔高公司的總市值
by showing how many people are willing to invest in their idea.
然而 若因為某種原因 公司的盈利能力似乎開始走低
However, if for some reason the company starts to seem less profitable,
也可能會出現相反的情況
the reverse can also happen.
若投資者認為 他們手中股票的價格會下跌
If investors think their stock value is going to decline,
他們就會售出手中的股票
they』ll sell their stocks
以期在公司損失更多價值之前賺一筆
with the hopes of making a profit before the company loses more value.
隨著股票被拋售和股票需求的下降
As stocks are sold and demand for the stock goes down,
股票價格會下跌 公司的市值也會隨之縮水
the stock price falls, and with it, the company’s market value.
這會給投資者帶來巨大的損失
This can leave investors with big losses–
除非公司再次看起來有利可圖
unless the company starts to look profitable again.
這蹺蹺板似的供給和需求機制
This see-saw of supply and demand
是在很多因素的作用下形成的
is influenced by many factors.
公司深受諸多不可避免的市場力量的影響
Companies are under the unavoidableinfluence of market forces–
比如 原料價格的波動
such as the fluctuating price of materials,
生產技術的轉變 和勞動力的轉移成本
changes in production technology, and the shifting costs of labor.
投資者也可能會擔憂公司領導層的變換 糟糕的名聲
Investors may be worried aboutchanges in leadership, bad publicity,
或者如新法律和貿易政策等更宏觀的因素
or larger factors like new laws and trade policies
當然了
And of course,
大量投資者只是想要脫手有價值的股票
plenty of investors are simply ready to sell valuable stocks
和追求個人的收益
and pursue personal interests.
所有這些可變因素引發了市場日復一日的波動
All these variables cause day-to-day noisein the market,
使得公司價值看起來時高時低
which can make companies appear moreor less successful.
在股票市場
And in the stock market,
預期價格下跌通常會導致投資者的流失
appearing to lose value often leads to losing investors,
相應地 （也會導致股票）失去實際價值
and in turn, losing actual value.
人們對股市的信心有能力引爆
Human confidence in the market has thepower to trigger
從經濟繁榮到金融危機的一切
everything from economic boomsto financial crises.
這項難以追蹤的可變因素
And this difficult-to-track variable
也是眾多專業人士更加提倡可靠的長期投資
is why most professionals promotereliable long term investing
而不提倡掙快錢的原因
over trying to make quick cash.
然而 專家不斷地構建工具
However, experts are constantly building tools
來努力提高他們
in efforts to increase their chances of success
在這個深不可測的體系中大賺一筆的可能性
in this highly unpredicatable system.
但股票市場並不僅僅是為權貴服務的
But the stock market is not just for the rich and powerful.
隨著網際網路的出現
With the dawn of the Internet,
投資者每天都可以
every day investors can buy stocks
採用很多與大股東完全相同的方法來購買股票
in many of the exact same ways a large investor would.
當更多的人湧進來自學這個複雜的體系
And as more people educate themselvesabout this complex system
他們也將能夠交易股票
they too can trade stocks,
支持他們信任的企業
support the businesses they believe in,
追求他們的財務目標
and pursue their financial goals.
首先要做的就是去投資
The first step is getting invested.