英语听力精选进阶版 20123

Bull and bear market 牛市和熊市

Neil 对股市着了迷，并且给杨莉解释了何谓牛市，何谓熊市。杨莉仍然不解，Neil 则描述了牛和熊这两大动物搏斗的姿势，杨莉顿时恍然大悟。

文字稿

（关于台词的备注 :  这不是广播节目的逐字稿件。本文稿可能没有体现录制、编辑过程中对节目做出的改变。）

Li

Hello, this is Authentic¹ Real English, with me Li… and… Neil! … Neil? Neil?

Neil

Yeah. Sorry, Li. Hi everyone! Yeah.

Li

What's taking all your attention? You can't stop looking at your smartphone!

Neil

Yeah. It's the stock exchange. I'm waiting to see if my shares have gone up. I want to be rich!

Li

Oh, yeah. But you have to remember that the stock market can be very volatile². It means the value of shares can go down as well as up. How do you know if the market is good for investors³? 股市浮动太大，很难把握呀。你怎么知道什么时候好，什么时候对投资者利呢？

Neil

Well, experts say it's a bull market when the price of shares on the stock market is rising. And they say it's a bear market when the price of shares on the stock market is falling.

Li

这么说股市看涨时就被称为牛市 a bull market；而股市行情看跌时则被称为熊市 a bear market。Interesting. I wonder why...

Neil

Well, it's easy to understand. Think about the way these animals attack. The bull thrusts its horns up into the air...

Li

Oh, yes, that's frightening...

Neil

It is, yes. And the bear, on the other hand, swipes its paws down, so the shares go down. Do you get it?

Li

Yes, now I do. 原来这两个词来自动物搏斗的姿势。很有道理。Let's hear some examples of how these expressions are used.

Examples

Stocks rose in early trading. It was a bull market which stunned⁵ even the most pessimistic analysts⁶. The financial crisis might be over.

The index of the UK's biggest 100 companies, the FTSE 100, has fallen 15% in the last few months. However, we can only call it a bear market when the index drops 20% or more.

Neil

So you see, a bear market for when values are falling, and a bull market for when they're rising.

Li

Neil, you are not a big investor⁴ and you are not exactly an expert in high finances, are you?

Neil

Well... no, not really.

Li

Stop dreaming. If you like animals so much, let's spend the afternoon at the zoo.

Neil

Well, that is a good idea! But could we stop by my stock broker's office on the way?

Li

You are really hooked on this, aren't you? Let's go. Bye!

1 authentic   

a.真的，真正的；可靠的，可信的，有根据的

参考例句：

• This is an authentic news report. We can depend on it. 这是篇可靠的新闻报道, 我们相信它。
• Autumn is also the authentic season of renewal. 秋天才是真正的除旧布新的季节。

2 volatile   

adj.反复无常的，挥发性的，稍纵即逝的，脾气火爆的；n.挥发性物质

参考例句：

• With the markets being so volatile,investments are at great risk.由于市场那么变化不定，投资冒着很大的风险。
• His character was weak and volatile.他这个人意志薄弱，喜怒无常。

3 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

4 investor   

n.投资者，投资人

参考例句：

• My nephew is a cautious investor.我侄子是个小心谨慎的投资者。
• The investor believes that his investment will pay off handsomely soon.这个投资者相信他的投资不久会有相当大的收益。

5 stunned   

adj. 震惊的，惊讶的 动词stun的过去式和过去分词

参考例句：

• The fall stunned me for a moment. 那一下摔得我昏迷了片刻。
• The leaders of the Kopper Company were then stunned speechless. 科伯公司的领导们当时被惊得目瞪口呆。

6 analysts   

分析家，化验员( analyst的名词复数 )

参考例句：

• City analysts forecast huge profits this year. 伦敦金融分析家预测今年的利润非常丰厚。
• I was impressed by the high calibre of the researchers and analysts. 研究人员和分析人员的高素质给我留下了深刻印象。