2023年经济学人 当幻想在华尔街遇到现实（2）

 

 

    The stage is therefore set for the triumph of those the meme-stock lot profess¹ to hate most of all: short-sellers, who try to sniff² out this sort of stuff.

    因此，胜利舞台已经准备好，迎接那些meme股票支持者声称最讨厌的人：试图嗅出蛛丝马迹的做空者。

    Nathan Anderson, founder³ of Hindenburg Research and a famed short-seller, has already made quite a splash with an investigation⁴ into what he alleges⁵ is widespread fraud and market manipulation at the Adani Group, an enormous Indian conglomerate⁶, which strongly denies the claims.

    兴登堡研究公司创始人、著名卖空者内森·安德森对印度大型企业集团阿达尼集团存在的大规模欺诈和市场操纵行为展开了调查，引起了不小的轰动。阿达尼集团对这些指控表示强烈否认。

    What, then, is left of the retail⁷ era?

    那么，零售时代还剩下什么呢？

    Individual traders are more important than they used to be, even if they are far from the peak of their powers.

    散户投资者比以往更加重要，尽管他们距离权力的巅峰还很远。

    In 2019 the retail share of stock-trading volumes hovered⁸ at around 15%.

    2019年，散户投资者在股票交易量中的份额是15%左右。

    Then, in the first quarter of 2021, it peaked at 24%.

    在2021年第一季度，这一比例达到了24%，创下历史新高。

    This figure understated the true power of retail investors⁹.

    这一数字低估了散户投资者的真正力量。

    Exclude marketmakers, who stand in the middle of most trades, and retail traders made up about half of volumes, with institutional investors accounting¹⁰ for the rest.

    除去参与大多数交易的做市商，散户投资者参与的交易约占总成交量的一半，其余的是机构投资者。

    Although retail traders' share fell to an average of 18% in 2022, or around one-third excluding marketmakers, this is still above where things started.

    尽管散户投资者的交易份额在2022年降至平均18%，剔除做市商后约占三分之一，但这仍高于其初始水平。

    When the stockmarket rallies, it is faddish¹¹ favourites, like GameStop and Tesla, leading the charge.

    当股市出现反弹，像游戏驿站和特斯拉这样的“流行宠儿”才是领头羊。

    Perhaps what will endure longest, though, is the levity¹².

    不过，持续时间最长的或许是轻率。

    Investing is normally a serious business.

    投资通常是一项严肃的业务。

    But even as the hold-on-for-dear-life gang let go of their treasures and rethink their old grudges¹³, their influence is still felt.

    但是，尽管“不管涨跌都稳稳拿住”的一伙人放弃了他们的宝藏，开始重新思考过去的积怨，他们依然具有很大的影响力。

    There are already plenty of Hindenburg versus¹⁴ Adani memes on r/WallStreetBets, the Reddit forum¹⁵ where it all began.

    在一切得以发生的Reddit论坛上，讨论又开始了。在“华尔街赌注”板块上，已经有大量兴登堡对阿达尼的meme。

    These echo the ones made about Melvin versus GameStop two years ago, with a small difference.

    这与两年前梅尔文资本对游戏驿站的情况如出一辙，只是略有不同。

    This time Mr. Anderson, the short-seller, is the hero.

    这一次，做空者安德森先生是个英雄。

1 profess   

v.声称，冒称，以...为业，正式接受入教，表明信仰

参考例句：

• I profess that I was surprised at the news.我承认这消息使我惊讶。
• What religion does he profess?他信仰哪种宗教？

2 sniff   

vi.嗅…味道；抽鼻涕；对嗤之以鼻，蔑视

参考例句：

• The police used dogs to sniff out the criminals in their hiding - place.警察使用警犬查出了罪犯的藏身地点。
• When Munchie meets a dog on the beach, they sniff each other for a while.当麦奇在海滩上碰到另一条狗的时候，他们会彼此嗅一会儿。

3 Founder   

n.创始者，缔造者

参考例句：

• He was extolled as the founder of their Florentine school.他被称颂为佛罗伦萨画派的鼻祖。
• According to the old tradition,Romulus was the founder of Rome.按照古老的传说，罗穆卢斯是古罗马的建国者。

4 investigation   

n.调查，调查研究

参考例句：

• In an investigation,a new fact became known, which told against him.在调查中新发现了一件对他不利的事实。
• He drew the conclusion by building on his own investigation.他根据自己的调查研究作出结论。

5 alleges   

断言，宣称，辩解( allege的第三人称单数 )

参考例句：

• The newspaper article alleges that the mayor is corrupt. 报纸上断言该市长腐败。
• Steven was tardy this morning and alleges that his bus was late. 史提芬今天早上迟到的说词是公车误点了。

6 conglomerate   

n.综合商社，多元化集团公司

参考例句：

• The firm has been taken over by an American conglomerate.该公司已被美国一企业集团接管。
• An American conglomerate holds a major share in the company.一家美国的大联合企业持有该公司的大部分股份。

7 retail   

v./n.零售；adv.以零售价格

参考例句：

• In this shop they retail tobacco and sweets.这家铺子零售香烟和糖果。
• These shoes retail at 10 yuan a pair.这些鞋子零卖10元一双。

8 hovered   

鸟( hover的过去式和过去分词 )； 靠近（某事物）； （人）徘徊； 犹豫

参考例句：

• A hawk hovered over the hill. 一只鹰在小山的上空翱翔。
• A hawk hovered in the blue sky. 一只老鹰在蓝色的天空中翱翔。

9 investors   

n.投资者，出资者( investor的名词复数 )

参考例句：

• a con man who bilked investors out of millions of dollars 诈取投资者几百万元的骗子
• a cash bonanza for investors 投资者的赚钱机会

10 accounting   

n.会计，会计学，借贷对照表

参考例句：

• A job fell vacant in the accounting department.财会部出现了一个空缺。
• There's an accounting error in this entry.这笔账目里有差错。

11 faddish   

adj.好赶时髦的；一时流行的

参考例句：

• We ate at a faddish new restaurant. 我们在一家新开张的时尚餐馆吃饭。 来自辞典例句
• Dial get online to say, begin since thenceforth faddish. 拨号上网一说，从那时起开始风行。 来自互联网

12 levity   

n.轻率，轻浮，不稳定，多变

参考例句：

• His remarks injected a note of levity into the proceedings.他的话将一丝轻率带入了议事过程中。
• At the time,Arnold had disapproved of such levity.那时候的阿诺德对这种轻浮行为很看不惯。

13 grudges   

不满，怨恨，妒忌( grudge的名词复数 )

参考例句：

• He never grudges money. 他从不吝惜金钱。
• They bear grudges against each other. 他俩有过节儿。

14 versus   

prep.以…为对手，对；与…相比之下

参考例句：

• The big match tonight is England versus Spain.今晚的大赛是英格兰对西班牙。
• The most exciting game was Harvard versus Yale.最富紧张刺激的球赛是哈佛队对耶鲁队。

15 forum   

n.论坛，讨论会

参考例句：

• They're holding a forum on new ways of teaching history.他们正在举行历史教学讨论会。
• The organisation would provide a forum where problems could be discussed.这个组织将提供一个可以讨论问题的平台。