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Pre-discussion guide:
Step 1: 请合上书进行泛听；
Step 2: 翻开书边听边阅读；
Step 3: 结合Glossary和Tips开口说说自己的看法。
中国股市很热，关于股市的报道也随之升温。纵观北京、上海等大城市的证券营业厅，有人愁眉苦脸，也有人满面春风。在这丰收的季节里，你在股市中也有所收获吗？对于中国股市，你的看法是怎样的？Come and join our discussion.
注：broke是个俚语，意为“破了产的”，常用词组go broke（破产），而go for broke有“孤注一掷、全力以赴”之意，注意区分开来。
October Topic
Never in the brief history of China’s stock market has there been a 1)boom like this, and small-time investors are 2)grabbing the bull by the horns. Among them, Zhu Shuliang, he’s been following his small 3)portfolio every day for the past 12 years at this Beijing 4)brokerage. “Every month,” he says, “more and more are joining him on the hard-wooden benches, watching the electronic numbers tick by.”
“Most come here for one reason,” he told me, “they win some and then they lose some, and then they have to win it back.”
China’s individual investors have few 5)options. So it’s standing room only inside this Shanghai brokerage house where they line up to buy and sell. These are just a few of the 90,000 new trading accounts opened each and every day in China in this bull market, 35% more than just last year. And as our Cheng Lei of CNBC Asia explains the state government is worried.
“For China’s 80 million 6)retail investors, trading in stocks is one of the few investment options they have. What the government doesn’t want is for them to lose their hard-earned savings in a market 7)bubble.”
Despite bubble fears and the market’s ups and downs, retail investors, for the most part, continue trading 8)unfazed. But until Chinese investors can also invest overseas, the long lines like this at brokerage houses are likely to continue.
What do you think of the current investment in stock market? Should we spend our savings in the bull stock market?
10月话题
在中国短暂的股票投资史上从未有过如此繁盛的场面，小投资者纷纷抓住牛市这个大好时机进行投资。朱蜀良（音译）就是其中一个例子―12年来，他每天都在北京这所证券公司跟进其持有的少量股票。“每个月，”他说，“越来越多新股民加入，和他一起坐在那些硬木长椅上观看电子荧幕的数字变化。”
“大部分人来这里只为了一个原因，”他告诉记者说，“他们赚到了钱，接着亏掉了，于是他们一定要把赔了的赚回来。”
中国个人投资者的投资选择极少。因此在上海这所证券公司里人流熙攘，只有站立的空间，人们都排着队去买卖股票。这些人只不过是中国股票牛市里每天9万个新股民中的小部分，比去年多了35%。正如我们CNBC亚洲频道的成蕾（音译）解释道，中国政府对此忧心忡忡。
“对于中国8千万的散户来说，投资股票市场是他们为数不多的投资选择之一。而中国政府不希望他们把自己辛苦挣来的存款损失在市场泡沫中。”
尽管对泡沫经济有所忧虑，而且股票市场变化无常，大部分的散户仍然毫不畏惧地进行投资交易。但是在中国投资者可以投资海外市场之前，像这样在证券所“排长龙”的景象很可能还会持续下去。
你对当前投资股市的看法是怎样的？我们应该把存款都投资在飙升的股票牛市中吗？
PRO 正方
Kitty Wu: Yes, why not? As China’s booming economy goes on, we should have faith in the stock market. Many of my relatives and friends have made a fortune out of it [stock market]. Investing in the stock market is a full-time job. I think it’s a good way to make my savings 9)profitable as I have good sources about which companies I should 10)invest in.
Ma Tai: I don’t see any wrong with that idea. I have been going to the stock exchange for more than ten years. For one thing, it helps to kill my time in 11)retirement; for another, I learn to manage personal finance through my investment. As we keep an eye on the market every day, we know when to take out our money or put more in, 12)volatility is not 13)scary. The government corrections are good for the market
in the long run. I am still sticking to metal and 14)property stocks.
Tips: 看来Kitty对中国股市是信心十足的，她用了一个“Yes, why not?（好啊，何乐而不为呢？）”的反问句来肯定自己的观点。Kitty认为中国经济正在蓬勃发展，投资股市能给她的存款带来丰厚的回报。不仅如此，连她的亲朋好友也在股市中make a fortune（大赚一笔）。
Tips: 从说话者的发言可以看出他是一位退了休的老股民。“I don’t see any wrong with that idea.”表示出说话者认为用存款投资股市是理所当然的，这种不以为然的态度值得揣摩。“For one thing…for another…（一方面……另一方面……）”是个表示并列关系的常用词组。看来这位老股民觉得投资股市好处多多啊，它既能帮他消磨时间（kill one’s time）又能通过投资学会个人理财（manage personal finance）。他还认为从长远来看（in the long run），政府的经济调整政策对股市有利。难怪他坚持看好金属股（metal stocks）和地产股（property stocks）。
CON 反方
Wei Hua: No, we shouldn’t take a risk and in fact, we should be careful about putting our savings into the stock market. People 15)tend to forget that an investor can lose as well as earn money in the market. It is very dangerous to invest without knowing about the way the market works. But if we take the trouble to learn something about the market, it’s not a bad idea to try it out but not with all savings.
Arnold Wynn: If you put your savings into the stock market, and the market goes down, then what do you have? Besides, don’t put all your eggs in one basket. The best way to invest is take an amount of money you can afford, invest it into good companies that provide you with good information about their work. Don’t go for quick profits.
Jason Yip: No way! I definitely won’t bet my savings on the stock market. 16)Herd mentality 17)prevails in Chinese society. If they see everyone around them—neighbors, friends and 18)colleagues—trading stocks, they would want to follow. I often see my friends and workmates are too busy following the market every day to work and eat. I think investing in stock market is no different from 19)gambling. Risk 20)abounds. I’d rather invest my money on collecting 21)antiques.
Tips: 这里要注意两个由动词take组成的词组：take a risk（冒险），take the trouble to do sth.（费事……，不怕麻烦做某事）。如果想鼓励别人尝试做某事，可以说“Try it out!”（试一试吧！）。
Tips: 谚语“Don’t put all your eggs in one basket.”意思是“不要把所有的蛋放在一个篮子里”，引申为“不要孤注一掷地集中财力做一件事或投资股票等”。的确如此，Arnold认为如果把存款都投资在股市中，倘若一失手，就会全盘受损。“The best way to do sth.”表示做某事的最佳方法或途径是……，这是一个不错的句型。例如：The best way to speak good English is speak aloud again and again. （要说好英语的最佳方法就是要重复地大声说。）
Tips: 英语口语中常用的“No way!”跟中文的“没门/决不！”相近，一般作为回答。Jason认为人们受到羊群心理（herd mentality）的影响而纷纷投资股市。他还结合了身边的实例―同事和朋友们为了跟踪股市走势都无暇工作和吃饭。因此在他眼中玩股市无异于（no different from）博彩，风险四起。另外，表示选择性的句型I’d rather do…(than do sth.)，意为“我宁愿做……（而不做……）”，在口语中也较常用。
Glossary
small-time investor（小投资者）/ individual investor（个人投资者）/ trading account（交易账户）/
bull market（牛市，与之相反为bear market熊市）/ retail investor（散户投资者）/ hard-earned savings（辛苦挣来的存款）/ bubble fear（市场泡沫的恐惧）
Vocabulary
关于股票的词汇你会说多少？
开盘价 opening price
收盘价 closing price
有价证券 negotiable securities
股息 share interest (dividend)
红利 bonus
股东 shareholder
定期收入 periodical revenue
发行股票 issue stocks
认购股票 subscribe stocks
优先股 preference shares
普通股 ordinary shares (common stock)
绩优股 merit-based shares
成长股 developmental shares
投机股 speculative shares
Step 1: 请合上书进行泛听；
Step 2: 翻开书边听边阅读；
Step 3: 结合Glossary和Tips开口说说自己的看法。
中国股市很热，关于股市的报道也随之升温。纵观北京、上海等大城市的证券营业厅，有人愁眉苦脸，也有人满面春风。在这丰收的季节里，你在股市中也有所收获吗？对于中国股市，你的看法是怎样的？Come and join our discussion.
注：broke是个俚语，意为“破了产的”，常用词组go broke（破产），而go for broke有“孤注一掷、全力以赴”之意，注意区分开来。
October Topic
Never in the brief history of China’s stock market has there been a 1)boom like this, and small-time investors are 2)grabbing the bull by the horns. Among them, Zhu Shuliang, he’s been following his small 3)portfolio every day for the past 12 years at this Beijing 4)brokerage. “Every month,” he says, “more and more are joining him on the hard-wooden benches, watching the electronic numbers tick by.”
“Most come here for one reason,” he told me, “they win some and then they lose some, and then they have to win it back.”
China’s individual investors have few 5)options. So it’s standing room only inside this Shanghai brokerage house where they line up to buy and sell. These are just a few of the 90,000 new trading accounts opened each and every day in China in this bull market, 35% more than just last year. And as our Cheng Lei of CNBC Asia explains the state government is worried.
“For China’s 80 million 6)retail investors, trading in stocks is one of the few investment options they have. What the government doesn’t want is for them to lose their hard-earned savings in a market 7)bubble.”
Despite bubble fears and the market’s ups and downs, retail investors, for the most part, continue trading 8)unfazed. But until Chinese investors can also invest overseas, the long lines like this at brokerage houses are likely to continue.
What do you think of the current investment in stock market? Should we spend our savings in the bull stock market?
10月话题
在中国短暂的股票投资史上从未有过如此繁盛的场面，小投资者纷纷抓住牛市这个大好时机进行投资。朱蜀良（音译）就是其中一个例子―12年来，他每天都在北京这所证券公司跟进其持有的少量股票。“每个月，”他说，“越来越多新股民加入，和他一起坐在那些硬木长椅上观看电子荧幕的数字变化。”
“大部分人来这里只为了一个原因，”他告诉记者说，“他们赚到了钱，接着亏掉了，于是他们一定要把赔了的赚回来。”
中国个人投资者的投资选择极少。因此在上海这所证券公司里人流熙攘，只有站立的空间，人们都排着队去买卖股票。这些人只不过是中国股票牛市里每天9万个新股民中的小部分，比去年多了35%。正如我们CNBC亚洲频道的成蕾（音译）解释道，中国政府对此忧心忡忡。
“对于中国8千万的散户来说，投资股票市场是他们为数不多的投资选择之一。而中国政府不希望他们把自己辛苦挣来的存款损失在市场泡沫中。”
尽管对泡沫经济有所忧虑，而且股票市场变化无常，大部分的散户仍然毫不畏惧地进行投资交易。但是在中国投资者可以投资海外市场之前，像这样在证券所“排长龙”的景象很可能还会持续下去。
你对当前投资股市的看法是怎样的？我们应该把存款都投资在飙升的股票牛市中吗？
PRO 正方
Kitty Wu: Yes, why not? As China’s booming economy goes on, we should have faith in the stock market. Many of my relatives and friends have made a fortune out of it [stock market]. Investing in the stock market is a full-time job. I think it’s a good way to make my savings 9)profitable as I have good sources about which companies I should 10)invest in.
Ma Tai: I don’t see any wrong with that idea. I have been going to the stock exchange for more than ten years. For one thing, it helps to kill my time in 11)retirement; for another, I learn to manage personal finance through my investment. As we keep an eye on the market every day, we know when to take out our money or put more in, 12)volatility is not 13)scary. The government corrections are good for the market
in the long run. I am still sticking to metal and 14)property stocks.
Tips: 看来Kitty对中国股市是信心十足的，她用了一个“Yes, why not?（好啊，何乐而不为呢？）”的反问句来肯定自己的观点。Kitty认为中国经济正在蓬勃发展，投资股市能给她的存款带来丰厚的回报。不仅如此，连她的亲朋好友也在股市中make a fortune（大赚一笔）。
Tips: 从说话者的发言可以看出他是一位退了休的老股民。“I don’t see any wrong with that idea.”表示出说话者认为用存款投资股市是理所当然的，这种不以为然的态度值得揣摩。“For one thing…for another…（一方面……另一方面……）”是个表示并列关系的常用词组。看来这位老股民觉得投资股市好处多多啊，它既能帮他消磨时间（kill one’s time）又能通过投资学会个人理财（manage personal finance）。他还认为从长远来看（in the long run），政府的经济调整政策对股市有利。难怪他坚持看好金属股（metal stocks）和地产股（property stocks）。
CON 反方
Wei Hua: No, we shouldn’t take a risk and in fact, we should be careful about putting our savings into the stock market. People 15)tend to forget that an investor can lose as well as earn money in the market. It is very dangerous to invest without knowing about the way the market works. But if we take the trouble to learn something about the market, it’s not a bad idea to try it out but not with all savings.
Arnold Wynn: If you put your savings into the stock market, and the market goes down, then what do you have? Besides, don’t put all your eggs in one basket. The best way to invest is take an amount of money you can afford, invest it into good companies that provide you with good information about their work. Don’t go for quick profits.
Jason Yip: No way! I definitely won’t bet my savings on the stock market. 16)Herd mentality 17)prevails in Chinese society. If they see everyone around them—neighbors, friends and 18)colleagues—trading stocks, they would want to follow. I often see my friends and workmates are too busy following the market every day to work and eat. I think investing in stock market is no different from 19)gambling. Risk 20)abounds. I’d rather invest my money on collecting 21)antiques.
Tips: 这里要注意两个由动词take组成的词组：take a risk（冒险），take the trouble to do sth.（费事……，不怕麻烦做某事）。如果想鼓励别人尝试做某事，可以说“Try it out!”（试一试吧！）。
Tips: 谚语“Don’t put all your eggs in one basket.”意思是“不要把所有的蛋放在一个篮子里”，引申为“不要孤注一掷地集中财力做一件事或投资股票等”。的确如此，Arnold认为如果把存款都投资在股市中，倘若一失手，就会全盘受损。“The best way to do sth.”表示做某事的最佳方法或途径是……，这是一个不错的句型。例如：The best way to speak good English is speak aloud again and again. （要说好英语的最佳方法就是要重复地大声说。）
Tips: 英语口语中常用的“No way!”跟中文的“没门/决不！”相近，一般作为回答。Jason认为人们受到羊群心理（herd mentality）的影响而纷纷投资股市。他还结合了身边的实例―同事和朋友们为了跟踪股市走势都无暇工作和吃饭。因此在他眼中玩股市无异于（no different from）博彩，风险四起。另外，表示选择性的句型I’d rather do…(than do sth.)，意为“我宁愿做……（而不做……）”，在口语中也较常用。
Glossary
small-time investor（小投资者）/ individual investor（个人投资者）/ trading account（交易账户）/
bull market（牛市，与之相反为bear market熊市）/ retail investor（散户投资者）/ hard-earned savings（辛苦挣来的存款）/ bubble fear（市场泡沫的恐惧）
Vocabulary
关于股票的词汇你会说多少？
开盘价 opening price
收盘价 closing price
有价证券 negotiable securities
股息 share interest (dividend)
红利 bonus
股东 shareholder
定期收入 periodical revenue
发行股票 issue stocks
认购股票 subscribe stocks
优先股 preference shares
普通股 ordinary shares (common stock)
绩优股 merit-based shares
成长股 developmental shares
投机股 speculative shares