Lesson 48 Planning a share portfolio规划股份投资

There is no shortage of tipsters around offering 'get-rich-quick' opportunities.

shortage of ^{缺乏，不足}

• There is an acute shortage of clean drinking water in the affected area. ^{受灾地区严重缺乏清洁饮用水。}
• The company is experiencing a shortage of skilled labor. ^{该公司正经历熟练劳动力不足的问题。}
• Despite the rain, there is still a shortage of water in the reservoirs. ^{尽管下了雨，水库里仍然缺水。}

tipsters ^{爆料人，内幕消息提供者}

• The financial journalist relies on anonymous tipsters for market information. ^{这位财经记者依靠匿名的爆料人获取市场信息。}
• Be wary of self-proclaimed tipsters who charge high fees for their advice. ^{要警惕那些自称爆料人，并对他们的建议收取高额费用的人。}
• A reliable tipster helped the police solve the case quickly. ^{一位可靠的内幕消息提供者帮助警方迅速破案。}

But if you are a serious private investor, leave the Las Vegas mentality to those with money to fritter.

private investor ^{私人投资者}

• The startup secured seed funding from a few wealthy private investors. ^{这家初创公司从几位富有的私人投资者那里获得了种子资金。}
• As a private investor, she manages her own stock portfolio. ^{作为一名私人投资者，她管理自己的股票投资组合。}
• Tax laws often offer different benefits to institutional versus private investors. ^{税法通常为机构投资者和私人投资者提供不同的优惠。}

leave sth. to sb. ^{把某事留给某人处理/归某人}

• Please leave the cooking to me tonight; I feel like preparing a feast. ^{今晚请把做饭的事留给我；我想准备一顿大餐。}
• The complex decision should be left to the experts. ^{这个复杂的决定应该留给专家们去处理。}
• She decided to leave the matter to her lawyer for further action. ^{她决定把这件事留给她的律师作进一步处理。}

The serious investor needs a proper 'portfolio' -- a well-planned selection of investments, with a definite structure and a clear aim.

proper ^{适当的，合适的}

• Make sure you use the proper tools for the job to ensure safety. ^{确保你使用适当的工具进行这项工作以确保安全。}
• She insisted on a proper apology for the inconvenience caused. ^{她坚持要求对所造成的不便做出适当的道歉。}
• Students must maintain proper etiquette during the formal dinner. ^{学生们在正式晚宴期间必须保持适当的礼仪。}

well-planned ^{精心策划的}

• The operation was a success thanks to a well-planned strategy. ^{由于精心策划的策略，这次行动取得了成功。}
• We went on a well-planned vacation that covered three countries in two weeks. ^{我们进行了一次精心策划的假期，两周内游览了三个国家。}
• The presentation was very clear and seemed to be well-planned. ^{这次演讲非常清晰，看起来是精心策划的。}

But exactly how does a newcomer to the stock market go about achieving that?

newcomer to ^{...的新手，初来者}

• As a newcomer to the city, I found it hard to navigate the public transport system. ^{作为一个城市的新手，我发现很难驾驭公共交通系统。}
• The young artist is a refreshing newcomer to the contemporary art scene. ^{这位年轻的艺术家是当代艺术界令人耳目一新的新手。}
• She is a newcomer to the company, but she is learning fast. ^{她是公司的新手，但她学得很快。}

go about ^{着手做，开始做}

• How should we go about solving this complex ethical problem? ^{我们应该如何着手解决这个复杂的伦理问题？}
• He decided to go about the task in a completely different way. ^{他决定以一种完全不同的方式着手做这项任务。}
• Tell me how you plan to go about implementing the new security measures. ^{告诉我你打算如何着手实施新的安全措施。}

Well, if you go to five reputable stock brokers and ask them what you should do with your money, you're likely to get five different answers, -- even if you give all the relevant information about your age, family, finances and what you want from your investments.

reputable ^{声誉好的，有名望的}

• Always choose a reputable company when making a large purchase. ^{进行大额采购时，务必选择一家声誉好的公司。}
• She studied at a highly reputable university in London. ^{她在伦敦一所声誉极高的大学学习。}
• To maintain a reputable business, honesty is crucial. ^{要维持一家有声望的企业，诚信至关重要。}

stock broker ^{股票经纪人}

• He consulted a professional stock broker before making his first investment. ^{他在进行首次投资前咨询了一位专业的股票经纪人。}
• A good stock broker provides advice on buying and selling shares. ^{一位好的股票经纪人提供关于买卖股票的建议。}
• The firm employs several licensed stock brokers to manage client portfolios. ^{该公司雇佣了几位持牌股票经纪人来管理客户的投资组合。}

Moral? There is no one 'right' way to structure a portfolio.

Moral ^{寓意，教训}

• The Moral of the story is that honesty is the best policy. ^{这个故事的寓意是诚实是最好的策略。}
• The recent economic crisis offers a clear Moral about the risks of over-borrowing. ^{最近的经济危机为过度借贷的风险提供了一个明确的教训。}
• The film explores various ethical questions, but its final Moral is ambiguous. ^{这部电影探讨了各种伦理问题，但它最终的寓意是模糊的。}

structure a portfolio ^{构建投资组合}

• It takes skill to properly structure a portfolio for maximum diversification. ^{适当地构建投资组合以实现最大化分散投资需要技巧。}
• Before you invest, you need to decide how to structure a portfolio based on your risk tolerance. ^{在你投资之前，你需要根据你的风险承受能力来决定如何构建投资组合。}
• His financial adviser helped him structure a portfolio that met his long-term goals. ^{他的财务顾问帮助他构建了一个满足他长期目标的投资组合。}

However, there are undoubtedly some wrong ways, and you can be sure that none of our five advisers would have suggested sinking all (or perhaps any) of your money into Periwigs.

undoubtedly ^{毫无疑问地，确凿地}

• She is undoubtedly the best candidate for the position. ^{她毫无疑问是这个职位的最佳人选。}
• This painting is undoubtedly a masterpiece of the Renaissance period. ^{这幅画确凿地是文艺复兴时期的一件杰作。}
• The evidence shows undoubtedly that the defendant is guilty. ^{证据毫无疑问地表明被告是有罪的。}

sinking money into ^{把钱投入到...（常指冒险或亏损）}

• Many investors made the mistake of sinking all their money into volatile tech stocks. ^{许多投资者犯了把所有钱投入波动性科技股的错误。}
• He regretted sinking so much money into the failing startup. ^{他后悔把这么多钱投入到这家失败的初创公司。}
• Be cautious about sinking your money into projects with unproven business models. ^{对于把钱投入商业模式未经证实的项目的行为要保持谨慎。}

So what should you do?

what should you do ^{你应该做什么}

• Faced with this ethical dilemma, what should you do next? ^{面对这个道德困境，你接下来应该做什么？}
• After the initial planning stage, what should you do to ensure the project moves forward? ^{在初步规划阶段之后，你应该做什么来确保项目向前推进？}
• If you suddenly find yourself lost in a foreign city, what should you do first? ^{如果你突然发现自己在一个外国城市迷路了，你首先应该做什么？}

We'll assume that you have sorted out the basics -- like mortgages, pensions, insurance and access to sufficient cash reserves. 

assume that ^{假设，假定}

• Let's assume that the delivery will arrive on time and plan accordingly. ^{让我们假设货物会按时到达，并据此进行规划。}
• I assume that everyone has read the preliminary report before the meeting. ^{我假定在会议之前每个人都读了初步报告。}
• We cannot simply assume that the outcome will be favorable without any effort. ^{我们不能毫不费力地就简单地假定结果会是好的。}

sorted out the basics ^{把基本事项理清/解决}

• Before starting a business, you must have sorted out the basics of financing and legal structure. ^{在创业之前，你必须理清融资和法律结构的基本事项。}
• Once we have sorted out the basics of the schedule, we can move on to the details. ^{一旦我们把日程的基本事项理清了，我们就可以继续讨论细节了。}
• It took a few days for the new employee to get sorted out the basics of the company's internal system. ^{这位新员工花了好几天才把公司内部系统的基本事项弄清楚。}

You should then establish your own individual aims.

establish aims ^确立目标

• The company decided to establish clear aims for the next fiscal year. ^{公司决定为下一个财政年度确立明确的目标。}
• Before starting any project, it is crucial to first establish your aims. ^{在开始任何项目之前，首先确立你的目标至关重要。}
• She took a moment to reflect and establish her personal aims for the coming decade. ^{她花了一些时间反思并确立了她未来十年的个人目标。}

individual aims ^个人目标

• The career coach helped the client define his individual aims and aspirations. ^{职业教练帮助客户确定他的个人目标和抱负。}
• While working as a team, members should not forget their individual aims. ^{在团队合作的同时，成员不应忘记他们的个人目标。}
• Setting realistic individual aims is the first step toward self-improvement. ^{设定切合实际的个人目标是自我提升的第一步。}

These are partly a matter of personal circumstances, partly a matter of psychology.

partly a matter of ^{部分是...的问题}

• His success is partly a matter of luck and partly a matter of hard work. ^{他的成功部分是运气的问题，部分是努力工作的问题。}
• The complexity of the solution is partly a matter of technical constraints and partly a matter of budget limitations. ^{解决方案的复杂性部分是技术限制的问题，部分是预算限制的问题。}
• The public's perception of the issue is partly a matter of media representation and partly a matter of personal experience. ^{公众对这个问题的看法部分是媒体呈现的问题，部分是个人经验的问题。}

personal circumstances ^个人情况

• The court took into account her difficult personal circumstances before passing sentence. ^{法院在判刑前考虑了她艰难的个人情况。}
• We offer flexible working hours to accommodate employees' diverse personal circumstances. ^{我们提供灵活的工作时间，以适应员工不同的个人情况。}
• Investment strategies should be tailored to fit the client's unique personal circumstances. ^{投资策略应该根据客户独特的个人情况量身定制。}

For instance, if you are older you have less time to recover from any major losses, and you may well wish to boost your pension income.

for instance ^{例如，举例来说}

• Many countries have adopted universal healthcare; for instance, Canada and the UK. ^{许多国家已经采用了全民医疗保健；例如，加拿大和英国。}
• It is important to eat healthy food; for instance, fresh fruits and vegetables. ^{吃健康的食物很重要；例如，新鲜的水果和蔬菜。}
• Some animals can change color to hide; for instance, the chameleon. ^{有些动物可以改变颜色来隐藏；例如，变色龙。}

recover from ^{从...中恢复}

• It took him a long time to recover from the severe flu. ^{他花了很长时间才从重感冒中恢复过来。}
• The company is slowly recovering from the financial downturn. ^{这家公司正在缓慢地从经济衰退中恢复过来。}
• The patient is expected to fully recover from the surgery within a week. ^{预计患者将在一周内完全从手术中恢复。}

So preserving your capital and generating extra income are your main priorities.

preserving capital ^{保全/保存资本}

• The main goal of conservative investors is **preserving capital**. ^{保守型投资者的主要目标是保全资本。}
• The foundation is focused on **preserving capital** while supporting charitable causes. ^{该基金会致力于保全资本，同时支持慈善事业。}
• A low-risk investment strategy is essential for **preserving capital** in volatile markets. ^{在波动性市场中，低风险投资策略对于保全资本至关重要。}

generating extra income ^{创造额外收入}

• He took on a part-time job for the purpose of **generating extra income**. ^{他找了一份兼职工作，目的是创造额外收入。}
• Investing in dividend stocks is a way of **generating extra income**. ^{投资股息股票是一种创造额外收入的方式。}
• The side project proved successful in **generating extra income** for the team. ^{这个副业项目在为团队创造额外收入方面取得了成功。}

In this case, you'd probably construct a portfolio with some shares (but not high risk ones), along with gilts, cash deposits, and perhaps convertibles or the income shares of split capital investment trusts.

construct a portfolio ^{构建投资组合}

• The financial analyst advised us on how to **construct a portfolio** balanced between growth and stability. ^{金融分析师就如何构建一个在增长和稳定之间平衡的投资组合向我们提供了建议。}
• She learned to **construct a portfolio** by spreading her investments across different sectors. ^{她通过将投资分散到不同行业来学习构建投资组合。}
• To mitigate risk, it is important to **construct a portfolio** that includes a mix of asset classes. ^{为了减轻风险，构建一个包含混合资产类别的投资组合是很重要的。}

along with ^{以及，和...一起}

• The prize included a trophy along with a significant monetary award. ^{奖品包括一座奖杯以及一笔可观的奖金。}
• She attended the conference along with her colleagues from the research department. ^{她和她的研究部门的同事一起参加了会议。}
• The package contained the product along with a detailed instruction manual. ^{包裹里有产品以及一份详细的说明书。}

If you are younger, and in a solid financial position, you may decide to take an aggressive approach -- but only if you're blessed with a sanguine disposition and won't suffer sleepless nights over share prices.

solid financial position ^{稳固的财务状况}

• The company is in a solid financial position, reporting high profits this quarter. ^{该公司财务状况稳固，本季度报告高额利润。}
• Before investing, make sure you are in a solid financial position with no outstanding debts. ^{在投资之前，确保你的财务状况稳固，没有未偿债务。}
• Even after purchasing the new equipment, the business remained in a solid financial position. ^{即使在购买了新设备之后，该企业的财务状况仍然保持稳固。}

aggressive approach ^{激进的方法/策略}

• The marketing team decided to take an aggressive approach to capturing the new market segment. ^{营销团队决定采取激进策略来抢占新的细分市场。}
• Taking an aggressive approach to investment usually involves high risk for potentially high reward. ^{对投资采取激进的方法通常涉及高风险以获取潜在的高回报。}
• The coach advised the team to take a more aggressive approach in the second half of the game. ^{教练建议球队在下半场采取更激进的策略。}

If you recognize yourself in this description, you might include a couple of heady growth stocks in your portfolio, alongside your more pedestrian investments.

recognize oneself in ^{在...中认出自己，觉得自己符合}

• I immediately recognized myself in the main character's anxieties about public speaking. ^{我立即在主角对公开演讲的焦虑中认出了自己（觉得和自己很像）。}
• Many readers recognize themselves in the novel's themes of struggle and perseverance. ^{许多读者在小说关于挣扎和坚韧的主题中认出了自己。}
• When reading about the personality type, she was surprised to recognize herself in almost every trait listed. ^{当阅读关于这种人格类型时，她惊讶地发现在所列的几乎每个特征中都认出了自己。}

heady growth stocks ^{高增长型股票（令人兴奋的，快速增长的）}

• Investing in heady growth stocks carries high volatility but the promise of substantial returns. ^{投资高增长型股票具有高波动性，但有可观回报的承诺。}
• He shifted a portion of his assets into heady growth stocks, aiming for quick capital appreciation. ^{他将部分资产转移到高增长型股票中，目标是快速资本增值。}
• Experienced traders are always on the lookout for the next big heady growth stocks. ^{经验丰富的交易员总是在寻找下一个大的高增长型股票。}

Once you have decided on your investment aims, you can then decide where to put your money.

decided on ^{决定了，选定了}

• They finally decided on the color scheme for the new living room. ^{他们最终决定了新客厅的配色方案。}
• Have you decided on the venue for the company's annual party yet? ^{你决定好公司年会的场地了吗？}
• After much deliberation, the committee decided on the proposal with the lowest environmental impact. ^{经过深思熟虑，委员会决定了环境影响最低的提案。}

put your money ^{投入你的资金}

• Where do you think is the safest place to put your money during an economic recession? ^{你认为在经济衰退期间，投入你的资金最安全的地方是哪里？}
• She decided to put her money into real estate rather than the volatile stock market. ^{她决定把资金投入房地产而不是波动的股票市场。}
• Financial advisors often recommend not to put all your money in one type of asset. ^{财务顾问经常建议不要把所有的钱投入一种资产。}

The golden rule here is spread your risk -- if you put all of your money into Periwigs International, you're setting yourself up as a hostage to fortune.

golden rule ^{金科玉律，基本原则}

• The golden rule of programming is to keep the code simple and clean. ^{编程的金科玉律是保持代码简洁明了。}
• In customer service, the golden rule is always to listen to the client's needs. ^{在客户服务中，基本原则是始终倾听客户的需求。}
• Treat others as you would like to be treated yourself; that is the golden rule. ^{待人如待己；这就是金科玉律。}

spread your risk ^分散风险

• The best way to spread your risk is by diversifying your investments across different markets. ^{分散风险的最佳方式是将你的投资分散到不同的市场。}
• To spread your risk, don't rely solely on one client for your business revenue. ^{为了分散风险，不要仅仅依赖一个客户来获取你的业务收入。}
• Financial planners always advise clients to spread your risk across various asset classes. ^{财务规划师总是建议客户将风险分散到各种资产类别。}

Bull markets are born on pessimism, grow on skepticism, mature on optimism, and die on euphoria. -（Sir John Templeton）