ChinesePod
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@ 50258 中國的股票市場
A 哎，我媽最近迷上了炒股，真頭痛。
āi, wǒ mā zuìjìn míshàng le chǎogǔ, zhēn tóutòng.
Oh, my mom has really gotten into playing the stock market lately. It's a huge pain.
B 你唉聲嘆氣地做什麼呀？炒股雖然風險大，但畢竟不是賭博，如果理智投資，還是會有收益的。
nǐ āishēngtànqì de zuò shénme yā? chǎogǔ suīrán fēngxiǎn dà, dàn bìjìng bù shì dǔbó, rúguǒ lǐzhì tóuzī, háishì huì yǒu shōuyì de.
What are you complaining about? Although there's a lot of risk in playing the stock market, it's not gambling, after all. If you understand how to invest, you can make money.
A 你有所不知，現在中國股市有時就像個大賭場。像我媽這樣的普通老百姓，哪會什麼理智地分析啊，只不過是隨大流罷了，一聽說牛市來了就盲目追漲，我真擔心她一不小心就會吃虧。要知道，那點錢可是她多年的積蓄啊。
nǐ yǒusuǒbùzhī, xiànzài Zhōngguó gǔshì yǒushí jiùxiàng ge dà dǔchǎng. xiàng wǒ mā zhèyàng de pǔtōng lǎobǎixìng, nǎ huì shénme lǐzhì de fēnxī ā, zhǐ bùguò shì suídàliú bà le, yī tīngshuō niúshì lái le jiù mángmù zhuīzhǎng, wǒ zhēn dānxīn tā yī bù xiǎoxīn jiù huì chīkuī. yào zhīdào, nà diǎn qián kěshì tā duō nián de jīxù ā.
There's some stuff you don't understand. Sometimes these days, the Chinese stock market is like a big casino. What kind of financial analysis would an ordinary person like my mom do? All she can do is follow the crowd. As soon as she heard it was a bull market, she just started blindly looking for gains。 I'm really worried that as soon as she gets careless, she could lose her shirt! You have to understand, she's saved that little nest egg for many years.
B 雖然我住在美國，但我也聽說了中國老百姓炒股熱情之高。我也有點奇怪，怎麼會有這麼多人熱衷於“玩股票”呢？
suīrán wǒ zhùzài Měiguó, dàn wǒ yě tīngshuō le Zhōngguó lǎobǎixìng chǎogǔ rèqíng zhī gāo. wǒ yě yǒudiǎn qíguài, zénme huì yǒu zhème duō rén rèzhōngyú `` wán gǔpiào" ne?
Even though I live in America, I've also heard about how enthusiastic ordinary Chinese people are about speculating in stocks. I also think it's a little strange-- how could there be so many people so crazy about ``playing the stocks?"
A 大概在國內，炒股已經成為大眾最方便和易於接受的投資賺錢的方式之一吧。再加上前幾年中國股市一路走紅，讓很多人對股市有一個誤解，以為炒股總是會贏的。更何況以前政府過多地干預股市，讓很多人覺得有政府撐腰怎麼可能虧本呢，於是越來越多的人開始盲目追捧。
dàgài zài guónèi, chǎogǔ yǐjīng chéngwéi dàzhòng zuì fāngbiàn hé yì yú jiēshòu de tóuzī zhuànqián de fāngshì zhīyī ba. zài jiāshang qiánjǐnián Zhōngguó gǔshì yīlù zǒuhóng, ràng hěn duō rén duì gǔshì yǒu yī ge wùjiě, yǐwéi chǎogǔ zǒngshì huì yíng de. gèng hékuàng yǐqián zhèngfǔ guòduō de gānyù gǔshì, ràng hěn duō rén juéde yǒu zhèngfǔ chēngyāo zěnme kěnéng kuīběn ne, yúshì yuèláiyuèduō de rén kāishǐ mángmù zhuīpěng.
Probably it's because in China, speculating in stocks has already become one of the easiest and best-accepted ways to invest and make money. Plus, in the past few years, the Chinese stock market has always been on the rise. That's given a lot of people a misconception about the stock market-- that when you play the stocks, you'll always win. Even more, the government used to interfere too much in the stock market, which made a lot of people think that if it has a government guarantee, it couldn't lose money. So more and more people have started to blindly trying to get rich.
B 原來如此。可是聽說現在市場並不景氣，中國的股市也受到影響開始暴跌，如果僅僅抱著投機的心態來炒股，當心被套牢啊。
yuánlái rúcǐ. kěshì tīngshuō xiànzài shìchǎng bìng bù jǐngqì, Zhōngguó de gǔshì yě shòudào yǐngxiǎng kāishǐ bàodié, rúguǒ jǐnjǐn bào zhe tóujī de xīntài lái chǎogǔ, dāngxīn bèi tàoláo ā.
So that's how it is. But I've heard that the market really isn't so great these days. The Chinese stock market has also started to plummet. But be careful of getting into speculating with nothing but an opportunistic mindset. You could get locked in when prices are too high!
A 是呀。我也是這麼勸我媽的。經歷熊市的時候，如果擺不正心態，往往可能遭受更大的損失。再說中國的證券交易市場也還不夠成熟和完善，交易運行也不夠規範，隱患處處存在。
shì yā. wǒ yě shì zhème quàn wǒ mā de. jīnglì xióngshì de shíhou, rúguǒ bǎi bùzhèng xīntài, wǎngwǎng kěnéng zāoshòu gèngdà de sǔnshī. zàishuō Zhōngguó de zhèngquàn jiāoyìshìcháng yě hái bùgòu chéngshú hé wánshàn, jiāoyì yùnxíng yě bùgòu guīfàn, yǐnhuàn chùchù cúnzài.
Yeah. I said the same thing to my Mom. When you're going through a bear market, if you can't keep calm, you'll always end up getting hurt even more. And what's more, China's securities market is not mature or complete enough. Trading isn't structured enough. There are hidden dangers everywhere.
B 我不太瞭解國內的形勢。不過美國最大的證券市場之一紐約證券交易所的組織結構健全，設備完善，管理嚴格，上市標準也非常高。對上市公司的監督管理主要由股票交易所的監管部門來專門負責，很有權威性。除特殊情況之外，政府對其運作及決策過程是不會干預的。在西方，投資股市可是一門大學問，而且有一些非常成功的投資家。
wǒ bùtài liǎojiě guónèi de xíngshì. bùguò Měiguó zuìdà de zhèngquànshìcháng zhīyī Niǔyuē zhèngquànjiāoyìsuǒ de zǔzhījiégòu jiànquán, shèbèi wánshàn, guǎnlǐ yángé, shàngshì biāozhǔn yě fēicháng gāo. duì shàngshìgōngsī de jiāndū guǎnlǐ zhǔyào yóu gǔpiàojiāoyìsuǒ de jiānguǎnbùmén lái zhuānmén fùzé, hěnyǒu quánwēixìng. chú tèshū qíngkuàng zhīwài, zhèngfǔ duì qí yùnzuò jí juécè guòchéng shì bùhuì gānyù de. zài xīfāng, tóuzī gǔshì kěshì yī mén dà xuéwèn, érqiě yǒu yīxiē fēicháng chénggōng de tóuzījiā.
I don't really understand the trends in China. But at one of the biggest securities exchanges in America, the New York Stock Exchange, the organizational structure is very complete, the equipment is perfect, the management is very strict, and there are very high standards for going on the market. The supervision bureau of the stock exchange is mainly responsible for supervising listed companies. It's very well-respected. Except in special circumstances, the government will not get involved in its operations or policies. In the West, investing in the stock market is a serious area of study, and there are some really successful investors.
A 投資家我是不奢望的了。我每天看到電視報紙上一篇又一篇的股評都很頭痛，儘管他們評論的內容都各不相同，但真正能預測準確的真是太少了。
tóuzījiā. wǒ shì bù shēwàng de le. wǒ měitiān kàndào diànshì bàozhǐ shàng yī piān yòu yī piān de gǔpíng dōu hěn tóutòng, jǐnguǎn tāmen pínglùn de nèiróng dōu gè bù xiāngtóng, dàn zhēnzhèng néng yùcè zhǔnquè de zhēnshì tàishǎo le.
I don't have any crazy hopes for becoming an investor. Every day when I see the stock evaluations on TV, one after the other, I get a headache. Even though the things they comment on have nothing in comment with each other, there aren't many who can really make accurate predictions.
B 我也覺得報紙上的那些分析對於炒股是否成功似乎幫助不大。不知道是不是政府幹涉的原因，在中國，政府政策對股市的影響比西方國家大得多。西方所流行的那一套基礎分析或技術分析法在中國也似乎毫無用武之地。
wǒ yě juéde bàozhǐ shàng de nàxiē fēnxī duìyú chǎogǔ shìfǒu chénggōng sìhu bāngzhù bù dà. bù zhīdào shìbushì zhèngfǔ gānshè de yuányīn, zài Zhōngguó, zhèngfǔ zhèngcè duì gǔshì de yǐngxiǎng bǐ xīfāng guójiā dà děi duō. xīfāng suǒ liúxíng de nà yītào jīchǔ fēnxī huò jìshù fēnxī fǎ zài Zhōngguó yě sìhu háowú yòngwǔzhīdì.
It also seems to me that the analysis in the newspaper isn't very helpful in speculating in stocks. I don't know if it's because of government intervention, but in China, government policies have much more influence on the stock market than they do in the West. The set of fundamental analysis and technological analysis methods popular in the West also seems to be totally useless in China.
A 是啊。我始終覺得股市瞬息萬變，一般人難以預測。上次我媽投資的一支股票就跌停板了，讓我們都跟著她鬱悶了好幾天。
shì ā. wǒ shǐzhōng juéde gǔshì shùnxīwànbiàn, yībānrén nányǐ yùcè. shàngcì wǒ mā tóuzī de yī zhī gǔpiào jiù diētíngbǎn le, ràng wǒmen dōu gēn zhe tā yùmèn le hǎojǐ tiān.
Yeah. I always feel that the stock market can change a lot in the wink of an eye. It's generally really hard for people to predict. Last time, a stock my mom invested in fell to rock bottom. We were all depressed with her for many days.
B 既然你媽媽這麼執著於炒股票，你不如建議她多向專業人士諮詢，挑選一兩支優質股票，做長線投資，不僅風險較小，還可以帶來豐厚的回報。
jìrán nǐ māma zhème zhízhuó yú chǎo gǔpiào, nǐ bùrú jiànyì tā duō xiàng zhuānyèrénshì zīxún, tiāoxuǎn shí èr zhī yōuzhì gǔpiào, zuò chángxiàn tóuzī, bù jǐn fēngxiǎn jiàoxiǎo, háikěyǐ dàilái Fēng Hòu de huíbào.
Since your mom is so persistent about playing the stock market, you'd be smart to suggest that she seek expert advice, and pick one or two good stocks. Make long-term investments-- not only is there less risk, they can also pay back a lot.
A 嗯，這也不失為一個好辦法。我這就回家和她談談。
ng4, zhèyě bùshīwéi yī ge hǎo bànfǎ. wǒ zhè jiù huíjiā hé tā tántan.
Ah, that's not a bad idea at all. I'm going to go home and talk about it with her.
Key Vocabulary
炒股 chǎogǔ to speculate in the stock market
有所不知 yǒusuǒbùzhī there is something one doesn't know
隨大流 suídàliú to do what is popular
牛市 niúshì bull market
積蓄 jīxù to save up
熱衷 rèzhōng to really like
干預 gānyù to interfere
撐腰 chēngyāo to support
虧本 kuīběn to lose money (in business)
追捧 zhuīpěng to be very popular
景氣 jǐngqì economic prosperity
投機 tóujī to speculate
套牢 tàoláo to be unable to sell stocks because of price drop
熊市 xióngshì bear market
隱患 yǐnhuàn hidden danger
健全 jiànquán without flaws
決策 juécè to make a strategic decision
奢望 shēwàng a wild hope ; extravagant hope
yòngwǔzhīdì a place to practice one's talent
瞬息萬變 shùnxīwànbiàn extremely fast-changing
停板 tíngbǎn a freeze in one stock's trading to prevent rapid change
執著 zhízhuó stubborn
長線投資 chángxiàn tóuzī long-line investment
Supplementary Vocabulary
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