新视野大学英语视听说教程第三册答案Unit10.pdf

Basic Listening Practice 1 Script W Let me recommend my brother to you He s really done well in the stock market over the last few years M The real question is this How have you dine by taking his advice Q What does the man mean 2 Script M Many investors jump on IPOs hoping to get rich by getting into a stock early before it goes up W But isn t that a bit like buying a book without reading it I mean what if it doesn t go up Q What is the woman s opinion 3 Script W The Dow was down again today It s hard to make money when high fuel prices are killing the stock market M There s still money to be made If you bought oil futures three months ago you d be smiling right now Q What can we learn from the dialog 4 Script M I can t wait to get back to my computer Online share trading has totally changed the stock market and the lives of investors Hook up to the Internet and be your own broker W In other words you can cut out the middle man now For about 500 you can open an account and begin buying and selling shares from your own home 24 hours a day Q Which of the following is true if they want to trade shares on the Internet 5 Script M Hold onto your hat We ll be rich I m buying shares in a new company M You can t buy IPO shares unless you have a big active with a broker The day of dot com fortunes from IPOs are over Q According to the conversation what is the condition for buying IPO shares 1 D 2 C 3 A 4 B 5 C Listening In Task 1 Tell me about the stock exchange Script George I m supposed to give a presentation on the stock exchange but I don t yet know a thing about it Could you give me some tips Diana The problem with you is that you ve skipped too many classes Now let me give you a few tips First of all you need to define the stock exchange It s an organization of brokers and investment bankers In Europe it is often called a bourse George Could you tell me more about it Like how does it work Diana It provides facilities for the trading of company stocks mainly the location and the record keeping devices George Can I go and trade there Diana It depends You have to be a member of the exchange before you can buy and sell shares there They call it having a seat on the exchange George Something they use the term stock market Diana Well the trading of stock on stock exchanges is called the stock market George How can a company be listed on the stock exchange Diana It has to meet certain requirements To be listed on the New York Stock Exchange last year for example a company had to have issued at least a million shares of stock worth 16 and had to have had more than 2 5 million net income George Wow that s a huge sum Small companies haven t got a chance Diana Big companies have more influence on the stock prices after all George I see what you mean Stock exchange a thing some tips define investment bankers Europe a member stock market requirements a million shares net income Task 2 Stockbroker helps Mr Junkie to short Script ABC stock reached 155 155 for a stock that should be valued at 100 Wow That s it I said to myself It s time I make a decision I m going to short that stock I thought to myself This stock is overvalued It can t remain at the present level for long This means money in the bank So I phoned my broker I want to place a trade I want to short 1 500 shares of ABC I m sorry Mr Junkie he said I can t process that for you Your account is cash account You need a margin account to short a stock I can send you the application form or you nearest financial institution to fill out the forms The minute I got of the phone I heard out the door because time is money I ran to the financial institution to fill out the form and sent it to the broker by express mail service Next morning I called him Hello it s Mr Junkie Did you get my application Yes Great I would like to short ABC then One minute please I m sorry Mr Junkie but you now need a shorter s account What You mean the margin account isn t enough No you also need a shorter s account Any financial institution nearby has the forms Off I ran again I completed the form and had a taxi deliver to my broker In the afternoon I called again Hello it s Mr Junkie I want to short 1 500 shares of ABC at 155 A few moments later he answered Mr Junkie I am sorry but I don t think that is possible Why not Well the last trade went through at 99 F 1 The broker did not believe ABC stock could remain at 155 for long T 2 Mr Junkie wanted to short 1 500 shares of ABC T 3 Mr Junkie could get a margin account through either a financial institution or his broker T 4 To short a stock one needs both a margin account and a shorter s account F 5 Mr Junkie asked a taxi driver the forms for a margin account to the broker Task 3 Who am I if I own stocks Script When a person buys stocks in a company that person becomes a shareholder in that company Stockholder is another name for shareholder A shareholder can also be called an investor of the company When that company makes money which can also be called earned income or profit the value of the company s stock often increases That s because more people may become interested in investing in the company Sometimes shareholders receive a dividend which is part of the company s earned incomes in the form of a cash payment Some people try to make money by buying and selling stocks Stock prices can move up and down Shareholders may make money or lose money by selling stocks that they own depending on whether the price has gone up or down since they bought their shares A company s stock price may be affected by market or economic conditions For example let s say that BCD Enterprises is a software company that has introduced a new video game into the market If that game is a hit sales of the video game could boost the company s earnings Because of the potential for BCD Enterprises to grow its stock may be viewed as an attractive investment and its stock price may go up as more people buy its shares On the other hand let s say the video game that BCD Enterprises introduced is a flop Or it could be a good time but BCD introduced it at a time when people are spending less on leisure products and hardly anyone is buying the game So it s reported that BCD is losing money because of this new product Then the stock price for BCD Enterprises may go down if a number of shareholders decide to sell their shares 1 What is the passage mainly concerned with C The influence of shareholders buying and selling on a company 2 Which of the following is NOT the same as a shareholder B A person selling shares on behalf of others 3 What may affect a company s stock price D All of the above 4 According to the passage which of the following is true if a company s product is good A The company s stock price may go up 5 Why does the speaker mention BCD Enterprises D BCD is used as an example to illustrate the stock market principles Speaking Out MODEL 1 The stock market is driven by fear and greed Chris Nora Nora Hey Chris Why the big grin You look like the cat that swallowed the canary Chris Even better An uncle I hardly knew passes away and left an inheritance of 100 000 So now I m thinking of making some investments Nora Good idea thouh it would be more fun if we spent it together What sort of investment do you have in mind Chris The stock market is looking attractive It s been a bear market for several years now and I think stock prices are pretty depressed Nora The decling market has investors depressed too Chris But all things work in cycles A bear market will eventually be followed by a bull market Nora That s sure I ve been reading that investors are coming back to the market and that will drive up the value of stocks Chris I believe the market is picking up Nora But there s still a risk Wars weather problems all these impact incestors confidence Chris I know what you mean The stock market is driven by fear snd greed When investors are cinfident od making of a fortune they buy that s greed at work Nora But along comes something to shake their confidence Chris Like a rise in interest rates for example and bingo they become afraid that they might lose their shares so they pull out of the market Now Your Turn A I ve saved a lot of money over the past years and now I d like to invest it for a profit B What sort of investment do you have in mind A The stock market is looking attractive It s been a bear market for several years now and I think stock prices are pretty depressed B The falling market has discouraged many investors A But all things work in cycles A bear market will eventually be followed by a bull market B That s true When the market does touch its bottom it ll rebound A I hope the investors will soon come back to the market and drive it up B But there re still risks Wars weather problems all these affect buyers confidence We re not sure if the market has reached its bottom A The bear market has lasted over four years I think it s time for it to pick up B It s really hard to say The Japanese stock market has had a bear run of about ten years A Really B And when NASDAQ fell from 5 000 points to 3 000 points some people believe it was a golden opportunity to enter the market Then the market plunged A So the stock market is really risky I may lose money B And maybe even your shirts A Well perhaps I d better put my money on the bank The stock has to be launched Helen You know this has been a privately owned company since we first opened last year and to be honest with you I m inclined in keeping in that way Bill But the market is changing rapidly and we need to think long term and take proactive measure otherwise we ll find ourselves behind the competition Helen That s a good point perhaps I should be more open minded about this Bill Don t you think you re a little short of funds at the moment Helen That s true Bill You simply can t afford to upgrade your facilities without considerable outside investment The bank won t lend you the money Helen I haven t tried it Bill Even if it did the interest rate for that much capital would be more we could afford I m convinced the only way to generate the funds we need is to go public Helen What should I do then Bill A consultant will be coming in next week to explain the registration procedure for an IPO Helen That s great because I want to have a thorough understanding of what this entails before any decisions are made Bill The important point is that you have to demonstrate you re financially qualified to be listed on the stock market Now Your Turn A Mr Smith though your company has grown fast few years the market is changing the rapidly So you need to think the long term and take proactive measures otherwise you ll find it behind the competition B You re quite right but can you be more specific about what we must do A Don t you think your company is a bit short of funds to expand production at the moment B That s right A You simply can t afford to upgrade your facilities without large external investments B Perhaps I have to borrow money from the bank A It won t lend you so much money B I haven t tried it A Even if you got a loan the interest rate for large sum would be more than you can afford I m convinced the only way to gather funds you need is to go to public B What should I do then A Let me explain the requirements for an IPO B I m all ears I want to have a thorough understanding of what this entails before I make further decisions A The important point is that you have to demonstrate that you are financially qualified to be launched on the stock market You must show you have a capital of 50 million yuan B Our company does have that amount of money Are there other requirements A You have to prove that the company has been making a profit in the past three years It s also essential that there are no false financial reports B Ok no problem I ll try to go through the Registration procedure to get our company listed MODEL 3 Nothing is certain n the stock market Susan Hey Chris have you read the paper today Chris No why What s up Susan The store market has dropped again Chris Oh no Not again How many points did it lose this time Susan One hundred Chris Let s see that s a drop of three percent Well there goes the money I was going to use to buy a new car Susan Before you get upset I think you should look at the stock listings for today Chris What for Susan Well some stocks actually gained especially telecom stocks Chris Let me see that paper You re right My stock went up five percent overnight That s great Susan For now anyway It may plunge tomorrow Chris you re right I m going to call my broker cash in my stocks I m not taking any more changes with my savings Susan You re wisher than most people I know Sometimes it s better to play it safe Now Your Turn A Hey Jack I hear you become a millionaire by investing in the stock market But I always lose money in the market Can you give me a few tips B First of all let s look at the stock listing in today s newspaper A Wow the stock market dropped again B What stock did you buy A BCD B How many points did it lose this time A More than a hundred B Let s see That s a drop of nearly five percent A Oh there goes a lot of my money I m thinking about pulling out of the market B Before you get upset I d like to give you some advice A What s that B Well the market is cyclical Through you re losing money now your stock may gain in future Personally I believe your stock is a good one You d better keep it until it goes up one day A So I can t make money in a short time B Let s look at XYZ stock It s now a junk stock but it s been low for a long time It may climb up at any moment A So I ll buy it and wait for it to go up B And cash in your stock when it reaches a point that is high enough to give you a profit My basic principle is to buy at the bottom and sell at the peak A I see I ll buy low and sell high But what if XYZ plunges again after I buy it B You have to take changes There s always risk in the stock market Let s Talk Gregory I ve been thinking about getting into the stock market but I don t know where to start What do you know about buying stocks Sylvia Well I have a few investments so I know a little about it Now it is probably a good time to invest The market is low prices are probably pretty good Gregory So you mean it s high time to enter the market What kind of stock do you suggest Sylvia I won t recommend any specific stock You have to make the decision on your own If you want to make money quickly you could try speculating Gregory What do you mean by speculating Sylvia You buy stocks that go up quickly for a fast profit Gregory Isn t that risky Stocks that go up fast also tend to go down fast Sylvia You just have to guess how high they ll go and then sell when you think they are about to come down If you guess right you can make lots of money in the blink of an eye Gregory But I hear that many people guess wrong When they think the market is already very low they start to buy Then the market continues to drop Sylvia In that case you will lose your shirt But to make money you have to take changes Gregory Hmm I m not much of a gambler Sylvia So you probably want to stick to blue chip stocks for a guarantee return on your investment Gregory That sounds right up my alley Gregory is thinking about getting into the stock market and wants to know how to buy stocks Sylvia say the market is low so prices are probably pretty good Gregory sees it is high time to enter the market Sylvia Suggest speculating which means buying stocks that go up quickly and then selling quickly for a fast profit Gregory finds it risky because stocks that go up fast also tend to go down fast Sylvia says that he has to guess how high they will go and then sells when he thinks they re about to come down Gregory hears that many people guess wrong When they start to buy the market continues to drop Sylvia says that to make money he has to take changes Gregory admits that he is not much of a gambler Sylvia suggests that he stick to the blue chip stocks for a guaranteed return on his investment Discussion A I m renting an apartment If you go on like this I ll never have an apartment of my own So I m thinking buying an apartment but I don t know whether it s good time to invest in property B Soon it ll be high time to buy houses There s been good news for buyers lately A What s it B in the light of the speculative investment in real estate the government has recently issued a number of rules For example those who sell newly bought apartment have to pay a tax So probably fewer people are willing to speculate in the real estate market and the housing prices will drop A I have to wait and see I would be glad even if the prices just remain stable Any other good news B Some people propose bypassing the real estate developers They want to pool their funds to build their own apartment buildings In this way they can cut the costs by a big margin A Sounds interesting though I m not sure if it s practical About when do you think I should buy an apartment B Pretty soon I guess the prices will fall soon A I want to know exactly when Shall I buy it next week or next month B You just have to guess how low the prices will go and then buy at the right time A It s a bit risky because I may guess wrong After I buy an apartment the price may plunge again B You have to take changes and make the decision on your own A Hmm I m not much of a gambler Perhaps I ll wait and see and continue to live in the rented apartment B There s also risk in this It s not altogether impossible that housing prices will move up a little bit If that s the case you ll have to pay even more in the future A My God there are risks everywhere So you ve told me next to nothing Further Listening and Speaking Task1 what do you know about NASDAQ As the world s largest electronic NASDAQ is not limited to one trading location Rather trading is executed through NASDAQ s complex computer and telecommunication network whi