[00:00.00]New Words
[00:00.80]新单词
[00:01.59]Toronto     n.
[00:02.30]多伦多
[00:03.00]shares     n.
[00:03.71]股份，股票
[00:04.41]raise       v.
[00:05.16]积累，筹集
[00:05.90]Phrases & Expressions
[00:08.28]stock exchange
[00:09.33]股票交易所
[00:10.37]go public
[00:11.01]上市
[00:11.65]S1:Professor Smith, we have known many interesting things about the western society in the class.
[00:14.41]学1：史密斯教授，我们在课上已经了解很多关于西方社会的有趣事情。
[00:17.16]What are we going to learn today?
[00:18.22]我们今天要学什么呢？
[00:19.28]P:The stock market.
[00:20.19]史：股票市场。
[00:21.11]A:The stock market?
[00:21.96]全：股票市场？
[00:22.80]P:Yes. Do you know anything about the stock market?
[00:24.84]教授：是的。关于股票市场，你们都知道些什么呢？
[00:26.88]S2:No more than the name itself. Stock market is new in China.
[00:29.40]学2：就是知道这个名称而已，股票在中国还是很新的东西。
[00:31.92]P:In the largest cities in many countries, you may want to visit the stock exchange.
[00:35.11]史：在许多国家的大城市里，你可能应该去看看它们的股票交易所。
[00:38.30]There are stock exchanges in Paris, London, Tokyo, Toronto, and many other places.
[00:41.84]巴黎、伦敦、东京、多伦多等许多城市都有股票交易所，
[00:45.37]One of the largest, most famous, and most important stock exchanges in the world is located in New York City.
[00:49.52]而其中最大，最有名的也最重要的是纽约股票交易所。
[00:53.66]The market, as a stock exchange is sometimes called,
[00:55.58]股票市场，或股票交易所，
[00:57.50]is important to many people because they make money by investing in it.
[01:00.40]对许多人来说很重要，因为他们想在这里投资赚钱。
[01:03.29]Today, we will explain the stock exchange itself and describe the process of investing money in the stock market.
[01:07.41]今天，我们要解释一下什么是股票交易所，以及如何投资。
[01:11.52]First, can you tell me what a market is?
[01:13.52]首先，你们能告诉我什么是市场吗？
[01:15.52]S3:A market is a place where people sell things and buy things.
[01:17.31]学3：市场是人们买东西和卖东西的地方。
[01:19.10]P:Yes, the stock market is also a place where an exchange of things takes place.
[01:22.66]教授：是的，股票市场也是一个买卖交换的场所，
[01:26.23]The things exchanged at the stock market are shares of stocks in business or companies.
[01:29.56]只不过股票市场买卖的是公司或企业的股份。
[01:32.89]S4:What are shares?
[01:33.91]学4：什么是股份？
[01:34.93]P:Shares represent a partial ownership of the company. In other words, if you buy shares of stock in a business.
[01:39.59]教授：股份代表着某公司的部分所有权。换句话说，如果你买了一个企业的股份，
[01:44.25]you become a partial owner of the business. The stock market, or stock exchange, then,
[01:47.60]你就成为了这个企业的所有人之一，在股票市场，或者股票贸易所，
[01:50.94]is a place where people can buy or sell shares in a particular company or business.
[01:54.18]人们进行某个公司或企业的股份买卖。
[01:57.42]S5:Why do people buy or sell shares?
[01:59.05]学5：为什么人们要买卖股份呢？
[02:00.69]P:Many different kinds of people buy stocks in the stock market.
[02:02.93]教授：各种各样的人在交易所里买卖股票：
[02:05.18]Some of these people are very wealthy. They have a lot of money;
[02:07.35]有些人很富有，
[02:09.52]they have much more money than they really need for everyday living expenses.
[02:12.11]他们除了日常开销外还剩很多钱，
[02:14.71]They buy stocks in hopes of getting more money than they have. Other people are not very rich,
[02:18.36]他们买股票是希望得到更多的钱，有些人不太富有，
[02:22.00]but they buy stocks anyway. They may buy it in order to become rich;
[02:24.82]是为了想变成富有的人
[02:27.64]or they may buy it as part of a plan to save money.
[02:29.59]或是把它作为存钱的一种方式。
[02:31.54]There are still many other reasons why people buy and sell stocks.
[02:33.90]人们买卖股票还有许多别的原因，
[02:36.26]In general, everyone who buys and sells stocks hopes to make money.
[02:39.33]但总之，每个人都是为了赚钱。
[02:42.40]All the people who buy stocks are actually investing money in a company or business. They are called...
[02:46.02]所有买了某公司或企业股票的人实际上是在向这个公司或企业投资，他们被称为-----
[02:49.64]S5:Investors. Why does a company want to share its money with other people, then?
[02:52.38]S5：投资者。那么为什么一个公司都愿意和别人分享所有权呢？
[02:55.12]P:There are various reasons. By selling stocks a company can get the money it needs to expand.
[02:59.04]史：有各种原因。通过销售股票，一个公司可能得到它发展所需的资金。
[03:02.96]Sometimes, it is advantageous for a company to "go public" for tax reasons.
[03:05.97]有时，一个公司是为了缴税有利而"上市"的。
[03:08.97]The company may save money on taxes by selling shares on the stock exchange.
[03:11.65]该公司在股票交易所卖股份可节省税金。
[03:14.32]When a company is in debt to banks, by selling stocks,
[03:16.44]当一个公司欠银行的钱,公司也可能出售股票
[03:18.56]it may be able to pay the banks. Many companies sell their stocks for this reason.
[03:22.11]来偿还银行的钱 。许多公司出售股票的是为了这个原因。
[03:25.66]However, the reasons why companies sell their stocks on the stock exchange are often complex.
[03:29.14]但是公司在股票出售股票的原因是很复杂的。
[03:32.61]In general, those who sell shares of stock on the stock exchange need to raise money for one reason or another.
[03:37.08]总之，这些公司在股市上出售股票都是为了这样和那样的目的而筹集资金。