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Now, you can also buy "mutual funds". A mutual fund is a...
现在，你还可以购买“共同基金”。共同基金是...
Basically, it's a company that manages your money.
基本上，它是一家管理你资金的公司。
So you put money into this mutual fund, the mutual fund manager will then take your money, plus this guy's money,
你把钱放进这个共同基金，共同基金经理会拿走你的钱，加上这个人的钱，
and that guy's money, and that woman's money, and that lady's money -
还有那个男人的钱，那个女人的钱，那个女人的钱，
he will take all this money and he will buy what he thinks are good investments;
他会拿着所有的钱去买他认为是好的投资；
stocks, bonds, commodities, equities, all kinds of things into one group and everybody gets their share.
股票，债券，商品，普通股，所有的东西都分成一组，每个人都有自己的一份。
Okay? So, when the entire group of investments goes up, each member of the mutual fund gets his or her return on investment, their yield.
好吧？所以，当整个投资组合升职时，共同基金的每个成员都得到了他或他的投资回报，他们的收益。
"Portfolio" we already talked about.
“投资组合”，我们已经讲过了。
Now, when we're talking about the actual stock market, these days, there's a lot of "volatility" in the stock market.
现在，当我们谈论实际的股票市场，这些天，股票市场有很多的“波动”。
Volatility is the sense of excitement or nervousness that enters the equation.
波动性是进入制衡局面的兴奋感或紧张感。
So people, they hear a bit of bad news from this part of the world,
所以人们，他们从这个地方听到一些坏消息，
they get nervous because they think that will affect their stock, and they start selling all their stock.
他们感到紧张，因为他们认为这会影响他们的股票，于是他们开始抛售所有的股票。
So their stock price or their shares go down in value.
因此他们的股票价格或股票价值下降。
So then other people, they say: "Oh my god, everybody's selling this.
然后其他人说，天哪，每个人都在卖这个。
I better sell mine, too." So they start selling.
我最好把我的也卖掉。”于是他们开始出售。
And then the smart people, they see: "Oh, everybody's selling.
然后聪明的人，他们看到：“哦，每个人都在出售股票。
I'll wait until it gets really low, and then I'll start buying everything for really cheap because I know it will go back up."
我会等到它真的很低的时候，然后我就会开始以非常便宜的价格买所有股票，因为我知道它会回升的。”
So volatility is more like the mood of the investors.
因此，波动性更像是投资者的情绪。
And people get scared, they sell. People are stay calm, they buy.
人们害怕时，就会抛售。人们保持冷静时，就会购买。
Okay? So it creates a lot of "fluctuation". A lot of fluctuation in the market.
好吧？所以这造成了很多“波动”。市场波动很大。
Fluctuation is the up and down movement. So stocks go up, they go down, they go up, they go down.
波动是上下运动。股票上涨，下跌，上涨，下跌。
Something that is steady, goes up steadily or goes down steadily.
稳定的东西，稳定上升或下降。
If it's up and down, it fluctuates. Okay? This is a very good word for all kinds of situations.
如果是上下变化，就是有波动。好吧？这是一个适用于各种情况的好词。
Now, there are two types of market activity. There is a "bear market" and there is a "bull market".
现在，有两种类型的市场活动。有“熊市”，也有“牛市”。
The easiest way to think about these is to look at the animals themselves.
最简单的思考方法是观察动物本身。
A bear has claws, so when a bear uses his claws, he's pulling everything down.
熊有爪子，所以当熊用爪子的时候，它会把所有的东西都拉下来。
So a bear market is a market that is tending downwards, that is losing value.
因此熊市是一个趋向于下跌的市场，它正在失去价值。
A bull has horns, so when a bull uses its horns, it's pushing things up.
公牛有角，所以当公牛用角的时候，它是在把东西向上推。
So a bull market means the value of the market is going up.
牛市意味着市场价值上升。
Usually it means there's a bit of a force, like something is making it go down, that's the bear; something is making it go up, that's the bull.
通常它的意思是有一点力，就像有什么东西使它下跌，这就是熊市；有东西使它上升，这就是牛市。
Something is pushing it up. Now, if you want to know how the markets are doing, you could look at any specific "index" or "indices".
有东西把它往上推。现在，如果你想知道市场是如何运作的，你可以看看任何一个具体的“指数”。
This is the plural of "index".
这是“index”的复数形式。
Now, I know many of you have heard of the DOW Jones, or the NASDAQ, or the S&P 500, or the TSX here in Toronto.
我知道你们很多人都听说过道琼斯指数、纳斯达克指数、标准普尔500指数或多伦多的多伦多证券交易指数。
These are indices. Okay? An index means that the stock market took a group, a collection of companies...
这些都是指数。好吧？一个指数意味着股票市场取了一组，一批公司...
It's not necessarily random; they have a reason to choose these companies.
它不一定是随机的；他们有理由选择这些公司。
But they look at all these companies, as a whole: are these companies going up in value or are they going down in value?
但他们把所有这些公司看作一个整体：这些公司的价值是在上升还是在下降？
So if the index is trending up, that means that the whole market is generally doing pretty well.
所以如果指数呈上升趋势，就意味着整个市场总体上表现不错。
If the index is going down, that means the market is going down as well.
如果指数下跌，那就意味着市场整体也在下跌。
This is... This gives you an idea of how the market is trending.
这是...这可以让你了解市场的趋势。
So in a bear market, the index will probably start moving down; in a bull market, the index will start moving up.
所以在熊市中，指数可能会开始下降；在牛市中，指数会开始上升。
Okay. Now, if you're a conservative investor, it means you don't like to take big risks.
好吧。现在，如果你是一个保守的投资者，这意味着你不喜欢冒很大的风险。
You want to put your money in, you want to be sure money comes back.
你想把钱投进去，你想确保钱能回来。
It doesn't have to be big money, but it has to be more than what you put in.
不一定要赚大钱，但一定要比你投入的多。
So then you would buy "blue chip stocks". A blue chicks...
然后你会买“蓝筹股”。一个蓝色的小鸡...
A blue chip stock is owning stock in a company that is big, that is trusted,
蓝筹股是指拥有一家大公司的股票，该公司值得信赖，
that has a long history of doing well, of growing.
他们有很长一段运行良好，取得发展的历史。
For example, if you buy Microsoft or Apple, these are considered blue chip stocks.
例如，如果你买微软或苹果的股票，它们就被认为是蓝筹股。
Why? Because they're big, they're stable. Over the...
为什么？因为它们很大，所以很稳定。在...
If you look at their history, they're generally going up for a long time.
如果你看看它们的历史，它们通常会上涨很长一段时间。
You can be sure that they will pay you a good return or that they will pay dividends.
你可以确定他们会给你一个好的回报，或者他们会给你分红。
"Dividends" are when they have the profits, they share the profits among all the stockholders.
“股息”是当他们获得利润时，他们把利润分给所有的股东。
So, blue chip companies generally pay good dividends.
因此，蓝筹股公司通常带来不错的股息。
Lastly, we have "equity". Equity is basically what you owe...
最后，我们还有“资产净值”。资产净值就是你所欠的...
Own. Sorry. Not what you owe. What you own minus what you owe.
自己的。对不起。不是你欠的。你拥有的减去你欠的。
Okay? So, for example, if you own a house, every part of that house that you own is your equity.
好吧？例如，如果你拥有一所房子，你所拥有的房子的每一部分都是你的资产净值。
If you have a mortgage, if you're paying the bank every month to pay for your house,
如果你有抵押贷款，如果你每个月都要向银行支付贷款，
then you take the full house, minus the mortgage, and whatever's left over - that is yours.
然后你用房子的价值，减去抵押贷款，剩下的都是你的了。
You own it. That is your equity. So, when you own stocks, that's part of your equity.
你拥有它。这就是你的资产净值。当你拥有股票时，那是你资产净值的一部分。
So it's basically all your "net assets".
基本上就是你所有的“净资产”。
All your assets, everything you own, minus all your liabilities, everything that you owe somebody; all your debt.
你所有的资产，你所拥有的一切，减去你欠别人的一切债务；你所有的债务。
Okay? So now that we know all these words, we can start thinking about investing.
好吧？现在我们知道了这些单词，我们可以开始考虑投资了。
And I say "thinking" because you want to be very, very, very careful before you put your money somewhere.
我说“考虑”是因为在你把钱投到某个地方之前，你要非常、非常、非常小心。
A stock market is not that much different from a casino.
股票市场和赌场没有太大区别。
Okay? You can gain a lot of money; you can lose a lot of money.
好吧？你可以赚很多钱；你可能会损失很多钱。
Find out what you need to know, do a lot of research about the company you want to invest in, do a lot of research about the mutual fund manager.
找出你需要知道的，对你想投资的公司做大量的研究，对共同基金经理做大量的研究。
Is he or she good at what they do? Do they have a history of success? Then invest your money.
他或她擅长他们所做的事情吗？他们有成功的历史吗？然后才投资。
If you want to test your knowledge of these words, go to www.engvid.com.
如果你想测试你对这些词的了解程度，请访问英格威网站。
There's a quiz there that you can try out. Ask questions in the comments section.
那里有一个小测验，你们可以试试。请在评论区提出问题。
And, of course, don't forget to subscribe to my YouTube channel, and come see us again. Bye.
当然，别忘了订阅我的油管频道，然后再来看我们。再见。
