have you noticed that there are a few topics

你是否注意到，有幾個主題

that always get covered?

始終得到覆蓋？

Weather, sports, unfortunately politics,

天氣，體育，不幸的是政治。

and news about the stock market.

和股市的新聞。

While maybe easy to understand the weather

雖然也許很容易理解的天氣

or sports segments,

或體育部分。

stock market news can feel like a secret code.

股市新聞可以感覺到像一個祕密代碼。

You know, some people make a lot of money somehow, but how?

你知道，有些人不知怎麼賺了很多錢，但怎麼賺的？

If the stock market confuses you, you're not alone.

如果股市讓你感到困惑，你並不孤單。

According to the Global 2014 survey,

根據2014年全球調查。

2/3 of adults are not financially literate.

2/3的成年人不懂經濟知識；

It's not your fault schools don't teach this stuff,

這不是你的錯，學校不教這些東西。

but the good news is you can understand

但好消息是你可以理解

the basics quite easily.

基礎知識很容易。

First, what even is stock?

首先，甚至什麼是股票？

Imagine taking a company and breaking it into

想象一下，把一個公司抽成

a lot of tiny pieces.

很多小塊。

A stock is one of those small pieces,

股票就是其中的一小塊。

or a share of a company.

或公司的股份。

And when we say a lot of tiny pieces, we mean a lot.

當我們說很多小塊的時候，我們意味著很多。

Amazon, for instance, is made up of over 500 million shares.

以亞馬遜為例，它是由5億多股組成的。

When you buy a stock, you're buying one or more

當你買入一隻股票時，你買入的是一隻或多隻

of those pieces of a company.

的那些件的公司。

For the most part,

在大多數情況下。

you can only buy shares of public companies.

你只能購買上市公司的股票。

A public company is one whose shares are available

上市公司是指其股份可

on a public market called a stock market.

在一個叫做股票市場的公開市場上。

While many large national companies are public,

雖然很多國內大公司都是公。

not all of them are.

並非所有的人都是如此。

In fact of the approximately 600,000 U.S. companies

事實上，在美國約60萬家公司中。

with at least 20 employees, less than 1% are public.

至少有20名僱員，不到1%是公眾。

For example, say you really like candy

比如說，你很喜歡吃糖

and wanna live out your Willy Wonka fantasies

想活出你的威利旺卡幻想

by owning a piece of a candy company.

通過擁有一家糖果公司的股份。

If you wanna buy shares of Mars,

如果你想買火星的股票。

the company behind M&Ms, Snickers, and Skittles, too bad.

M&Ms、士力架和巧克力糖背後的公司，太糟糕了。

It's a private company so you can't buy any shares of it.

這是一傢俬人公司，所以你不能買它的任何股票。

Instead, you might have to settle for Hershey's,

反之，你可能不得不解決好時的問題。

which is a public company

該公司是一家上市公司

and so offers its shares in the stock market.

是以在股市中提供其股票。

Now that we know what a stock is, let's go back to the news.

現在我們知道了什麼是股票，我們再來看看新聞。

When you hear the stock market went up,

當你聽到股市上漲。

that means that overall,

這意味著，總體上。

the price for pieces of public companies increased.

上市公司的件價格上漲。

This doesn't mean every company's share went up,

這並不意味著每家公司的股價都漲了。

just that across the whole stock market

縱觀全市場

people generally paid more for pieces for a company today

如今，人們普遍為一家公司支付了更多的費用。

than they did yesterday.

比他們昨天。

But when you hear the opposite, the stock market went down,

但當你聽到相反的聲音時，股市就會下跌。

that means that on a whole the trader's paying less

這意味著，總體上交易者付出的代價較少。

for stocks today than they were yesterday.

對於今天的股票比昨天。

You may hear things like the Dow was up today,

你可能會聽到這樣的話：今天道指漲了。

or the S&P was down today, but what does that mean?

或標普今天下跌，但這意味著什麼？

The Dow and the S&P, also known as the S&P 500,

道指和標普，又稱標普500指數。

are bundles of stock that are actually considered

是成捆的股票，實際上被認為是

to be representative of the stock market as a whole.

以代表整個股票市場。

Think of it as an appetizer sampler platter

把它看作是一個開胃小菜拼盤

with some pieces a lot of different things.

與一些作品很多不同的東西。

The Dow is a collection of 30 different companies,

道瓊斯指數是由30家不同的公司組成的。

while the S&P 500 reflects the shares

而標準普爾500指數反映的是股票

of 500 different companies.

500家不同公司的。

While people often use the Dow or the S&P 500 as stand-ins

雖然人們經常用道瓊斯指數或標準普爾500指數來代替

for how the stock market is doing,

對於股市如何。

it is important to realize the stock market

重要的是要認識到股票市場

is not a standard for how the economy is doing.

並不是衡量經濟狀況的標準。

This may be counterintuitive since many of us associate

這可能會有悖於直覺，因為我們很多人都會聯想到...。

the economy with the stock market,

經濟與股票市場。

but they are different things.

但它們是不同的東西。

The economy is a big and complex system.

經濟是一個龐大而複雜的系統。

So big, so complex that it's actually hard to even define.

這麼大，這麼複雜，其實連定義都很難。

It encompasses different metrics like the employment rate,

它包含了不同的指標，如就業率。

the prices of goods and services, taxes,

商品和服務的價格、稅收；

and a myriad of other factors all interrelated

千頭萬緒

and affecting one another.

並相互影響。

Because the economy as a whole is so big and complex

因為整個經濟是如此的龐大和複雜

but the stock market is relatively easy to understand,

但股市相對容易理解。

the Dow goes up, Dow goes down,

道指上漲，道指下跌。

many people use a stock market as a substitute

很多人以股代市

in their minds for the economy as a whole.

在他們看來，對於整個經濟。

Think of the entire economy like a football stadium.

把整個經濟看成是一個足球場。

The stock market is like the scoreboard.

股市就像記分牌。

It tells you a lot of useful information

它告訴你很多有用的資訊

about what's going on inside the football stadium:

關於足球場內發生的事情。

the score, player stats,

的比分，球員統計。

the number of people in attendance,

出席的人數；

but you never say the entire football stadium

但你從來沒有說過整個足球場

is the scoreboard.

是記分牌。

It may be an important part of it,

它可能是其中重要的一部分。

but there's so much more to the economy

但還有更多的經濟問題。

than the stock market.

比股市。

In fact, there are times when the stock market

事實上，有的時候，當股市

and the economy can become disconnected.

和經濟會出現脫節。

For instance, during the 2020 coronavirus pandemic,

例如，在2020年冠狀病毒大流行期間。

the stock market is reaching new highs.

股市正達到新的高點。

Millions of Americans, however,

然而，數百萬美國人。

are expecting financial disaster.

正在期待金融災難。

How can that be?

怎麼可能？

The answer's in the fact that a booming stock market

答案就在於，繁榮的股市

only directly benefits those who own stock.

只有擁有股票的人直接受益。

According to "The New York Times,"

據 "紐約時報 "報道

84% of stock owned by Americans

84%的股票由美國人擁有

belong to the wealthiest 10% of households.

屬於最富裕的10%的家庭。

That means when the stock market's doing well,

也就是說，當股市行情好的時候。

those at the top benefit the most.

頂端的人受益最大。

According to one of the most influential economists

根據最有影響力的經濟學家之一的說法。

of the 20th century, Milton Friedman,

20世紀的米爾頓-弗裡德曼。

a CEO is an employee of the owners of the company,

CEO是公司所有者的僱員。

i.e. the shareholders.

即股東。

This means her only responsibility is to maximize profit.

這意味著她唯一的責任就是實現利潤最大化。

Since profit is revenue minus cost,

由於利潤是收入減去成本。

her job is literally to keep costs down.

她的工作是字面上保持成本低。

A major cost for many companies is salaries and benefits

很多公司的一個主要成本是工資和福利

for its workers.

為其工人。

If a company were to announce raises

如果一家公司要宣佈加薪

for all their employees,

為其所有員工。

it would certainly benefit the finances of those employees.

這對這些員工的財務肯定有好處。

However, it would make the cost of doing business to go up.

不過，這將使企業的經營成本上升。

So according to Friedman,

所以根據弗裡德曼的說法。

in order to do her job and increase stock prices,

為了做好她的工作，提高股票價格。

a CEO would look to keep employee's compensation down.

一個CEO會尋求降低員工的報酬。

So even if you work for a company

所以即使你在一家公司工作

whose stock prices is going up,

其股票價格正在上漲。

it doesn't necessarily mean

未必

your economic fortunes are improving.

你的經濟運勢正在改善。

So how do average people like us get stocks?

那麼，像我們這樣的普通人，怎麼才能買到股票呢？

And how do you make sure you make money

那你怎麼保證你能賺到錢

and don't lose money?

而不虧損？

There's no shortage of companies or apps

其中不乏一些公司或應用。

that will allow you to buy or sell stocks,

將允許你購買或出售股票。

together called trading.

一起稱為交易。

Do some research before picking one

在選擇之前，先做一些調查

as many may have fees that outweigh any money

因為很多人的費用可能會超過任何金錢。

you expect to gain by trading.

您期望通過交易獲得收益。

Once you set up a stock trading account,

一旦你建立了一個股票交易賬戶。

called a brokerage account,

稱為經紀賬戶。

trading a stock is actually pretty easy.

交易股票其實很容易。

A simple stock trade can be broken down into three steps.

一個簡單的股票交易可以分為三個步驟。

Buy one or more shares at the price

以以下價格買入一隻或多隻股票

the market is selling them.

市場在賣他們。

Two, wait some amount of time.

二、等待一定的時間。

It could be minutes, days, months, years, or even decades.

可能是幾分鐘，幾天，幾個月，幾年，甚至幾十年。

During this time, the price of the stock will change

在這段時間裡，股票的價格將發生變化。

for all kinds of reasons

百般無奈

that people spend their entire lives trying to understand.

人們花了一輩子的時間去了解。

Three, sell those shares at the price

三，以價格出售這些股票

the market is buying them.

市場在購買它們。

That's it.

就這樣吧

There are more complicated ways of investing

還有更復雜的投資方式

into the stock market, but this process is a basic one.

入股市，但這個過程是一個基本。

Buy something, wait until the price change,

買東西，等價格變化。

and then sell it.

然後賣掉它。

You want the price to go up after you buy something,

你想買了東西之後，價格就會上漲。

but it might go down.

但它可能會下降。

To make money, hopefully you can follow

要想賺錢，希望你能按照

the conventional wisdom of buy low, sell high.

低買高賣的傳統智慧。

You might be wondering, how do I know if the value

你可能會想知道，我怎麼才能知道這個值是否為

of a stock is going up or down?

的股票是漲還是跌？

Unfortunately, you don't.

不幸的是，你沒有。

That's sort of the whole point of the stock market.

這也算是股市的意義所在。

When you buy a stock, you're essentially making a bet

當你買入一隻股票時，你本質上是在下注

that over time the stock will become more valuable

久而久之，股票會越來越值錢

than it was when you bought it.

比你買它的時候。

Prices, however, can go down.

但是，價格卻可以下降。

Meaning you might find yourself selling your shares

意味著你可能會發現自己賣出你的股票

for less than you paid for them.

以低於你支付的價格購買它們。

That's how you lose money.

這就是你賠錢的原因。

Since no one knows the future, in general,

由於沒有人知道未來，一般情況下。

it's pretty foolish to think

痴人說夢

that you can time the stock market.

你可以在股市上計時。

Whenever you hear someone with flashy stock market tips

每當你聽到有人用華麗的股市技巧

or no-lose trading strategies,

或不虧損的交易策略。

they're almost certainly lying

他們肯定在撒謊

and trying to sell you something.

並試圖向你推銷一些東西。

No one knows how to make guaranteed money

沒有人知道如何保證賺錢

in the stock market.

在股票市場上。

If they did, they would keep the secret to themselves

如果他們真的這麼做了，他們會對自己保密的

and spend all their time making money that way.

並把時間都花在了賺錢上，這樣。

It's similar to when you see

這就像你看到

scam exercise products advertised that promise easy results.

騙人的運動產品廣告，承諾輕鬆見效。

It's just for suckers.

這只是給傻瓜的。

The tried-and-true way to make money in the stock market

屢試不爽的股市賺錢方法

is slow, boring investing

是緩慢的，無聊的投資

so you have money when you're older.

這樣你就有錢了，當你老了。

Buy some stocks and don't sell them again for ages,

買一些股票，好久都不要再賣了。

even if the market goes down.

即使市場下跌。

Even if the market's sores.

即使市場的瘡 。

A good way to do this is with retirement products

一個很好的方式是退休產品。

such as IRAs and 401ks.

如IRAs和401ks。

Over the long run, the stock market has trended upwards,

長期以來，股市一直呈上升趨勢。

which is why a steady, unexciting investment plan

這也是為什麼一個穩定的、不刺激的投資計劃。

is usually the best one.

通常是最好的一個。

Again, like exercising products, if you wanna get healthier,

同樣，像運動產品，如果你想讓自己更健康。

the tried-and-true way is consistent diet and exercise,

屢試不爽的方法是持續的飲食和鍛鍊。

not the quick gimmicks.

不是快速的噱頭。

To wrap things up,

總結一下。

while the basics of the stock market are easy to understand,

而股市的基本知識卻很容易理解。

buy, wait, sell,

買，等，賣。

before you do any investing,

在你做任何投資之前。

it's important to do much more research

多做研究很重要

than this video provided.

比這個視頻提供。

Talk to qualified financial planners,

與合格的理財規劃師交流。

people who you trust to be looking out

親信

for your financial wellbeing

為了您的財務健康

and not trying to make a quick buck.

而不是想賺快錢。

There's no rush.

不著急。

The stock market isn't going anywhere

股市哪也不去

and neither other news segments reporting on it.

和其他新聞欄目都沒有報道。

Hopefully, however, now you understand a bit more

不過，希望現在你能多瞭解一些。

of what those stories mean.

的這些故事意味著什麼。

(upbeat instrumental music)

(歡快的器樂)