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证券交易所是如何运作的? – 译学馆
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证券交易所是如何运作的?

How The Stock Exchange Works (For Dummies)

什么是证券交易所?它又是怎样运作的?
What is the Stock Exchange and how does it work?
证券交易所就是一个巨大的全球网络运作平台
The Stock Exchange is nothing more than a giant globally network
组织市场证券交易 大量的钱每天在这里来回流动
tend to organize the market place where every day huge sums of money are moved back and forth.
一年的交易额超过60万亿欧元
In total over sixty trillion (60,000,000,000,000) Euros a year are traded.
超过了整个世界经济商品和服务产业的总和价值
More than the value of all goods and services of the entire world economy.
然而它不是在市场上交易苹果或二手牙刷
However it’s not apples or second hand toothbrushes that are traded on this marketplace.
而主要是买卖证券
But predominantly securities.
证券是资产的股权,主要表现形式为股份
Securities are rights to assets, mostly in the form of shares.
一份额代表了一个公司的一股股份
A share stands for a share in a company.
但是为什么要交易股份?
But why are shares traded at all?
首先,股票价值关系到一个公司背后的财务
Well, first and foremost the value of a share relates to the company behind it.
如果你把一个公司的价值当做一块披萨
If you think the value of a company in terms of a pizza.
完整的披萨越大,由它所分的每一块披萨也就越大
The bigger the overal size of the pizza, the bigger every piece is.
例如 如果脸书新的商业模式能够增加更多的盈利
If for example Facebook is able to greatly increase its profits with a new buisness model.
整个公司这块大饼的尺寸也会变大,那么导致它的股份价值也在上升
The size of the companies pizza will also increase, and as a result so will the value of its shares.
这同样会让股东受益
This is of course great for the share holders.
一份过去价值38欧元的股份现在可能就是50欧元了
A share which perhaps used to be worth 38 euros could now be worth a whole 50 euros.
卖掉股份就会得到每股12欧元的收益
When it’s sold this represents a profit of twelve euro per share!
但是脸书从其中获得了什么?
But what does Facebook gain from this?
公司通过卖掉股份来筹集资金去投资或者扩大商业
The company can raise funds by selling the shares and invest or expand it’s buisness.
举个例子,脸书从它的上市股票交易所中盈利了160亿美元
Facebook, for example, has earned sixteen billion dollars from it’s listing on the Stock Exchange.
尽管股票交易就是一场游戏
The trading of shares though, is frequently a game of chance.
但没有人能够说哪个公司在其中运作良好或运作极差
No one can say which company will preform well and which will not.
如果公司拥有良好的名誉,投资者们会青睐它
If a company has a good reputation, investors will back it.
相反,人们会对声名狼藉或运作有问题公司的股份嗤之以鼻
A company with a poor reputation or poor performance will have difficulty selling its shares.
不像普通的市场上的有形物品可以带回家
Unlike a normal market in which goods can be touched and taken home
股票交易所里有的只是有价值的无形商品
on the Stock Exchange only virtual goods are available.
表现形式为显示屏中股票的价格
They apear in the form of share prices and tables on monitors.
这样股票价格在几秒钟可以暴涨,也能够暴跌
Such shareprices can rise or fall within seconds.
因此股东必须行动迅速才不会错失良机
Shareholders therefore have to act quickly in order not to miss an opportunity.
一个小小的谣言甚至能导致股票大幅度下降,这关乎公司的实际价值
Even a simple rumor can result in the demand for a share falling fast regardless of the real value of the company.
当然 相反的情况也有可能发生的
Of course the opposite is also possible.
当人们大量购买弱股时
If a particularly large number of people buy weak shares.
他们看见了一个公司背后巨大的潜力
Because if they see for example great potential behind an idea.
会导致他们的股票价格上升
Their value will rise as a result.
特别是对新成立的公司来说 可以从中获利
In particular young companies can benefit from this.
尽管公司的销售可能下降 但可以通过出售股份来获取现金
Even though their sales might be falling, they can generate cash by placing their shares.
在最佳的情况下 他们的想法可以变成现实
In the best case scenario this will result in their idea being turned into reality.
在最糟糕的情况下就无异于空话了 导致投机泡沫
In the worst case scenario, this will result in a speculative bubble with nothing more than hot air.
在某种程度上说,一旦股份伴随着泡沫,泡沫就可能会破裂
And as the case with bubbles, at some point, they will burst.
德国DAX股票指数概括了德国最大的30家公司的价值
The value of Germany’s biggest thirty companies is summarized in what is known as the DAX share index.
这些大型的公司运作良好还是糟糕
The DAX shows how well or poorly these major companies
都可以通过现在作为整体经济的DNX指数显现出来
and there by the economy as a whole are performing at the present time.
股票交易所在其他的国家也有他们自己的指数
Stock Exchange is in other countries also have there own indices.
所有这些股票市场就形成了一个全球网络市场
And all of these markets together create a globally networked marketplace.
字幕源于Amara.org社区
Subtitles by the Amara.org community

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