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 W: But isnt that a bit like buying a book without reading it? I mean, what if it doesn't go up? Q: What is the womans 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 Q: What can we learn from the dialog? 4. Script M: I cant 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 da 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.D2C3.A4.B5C Listening In
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 George: I'm supposed to give a presentation on the stock exchange, but I don't yet know a thing bout 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 here. 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 George: Wow, thats a huge sum! Small companies havent got a chance Diana: Big companies have more influence on the stock prices after all George: I see what you mean Stock exchange a thil ome tips define investment bankers Europe member stock market requirements a million shares net income Task 2: Stockbroker helps Mr Junkie to short Script ABC stock reached$155.“$l55” for a stock that should be valued at$l00.Wow!“That'sit”I said to myself. " It's time I make a decision. Im going to short that stock. " I thought to myself, This stock is overvalued It cant remain at the present level for long. This means money in the 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
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? “Y "Great. I would like to short ABC then One minute please. I'm sorry, Mr Junkie, but you now need a shorters account What! You mean the margin account isnt enough? No, you also need a shorters 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 "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 ifi own stocks? cript 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 companys 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, lets 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 companys 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?
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)Aperson 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 companys 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 ree Chris. noral 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 Nora: Good idea, thouh it would be more fun if we spent it together. What sort of investment do Chris: The stock market is looking attractive. It's been a bear market for several vears 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: Thats 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 imI 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
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 Id like to invest it for a profit 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 depresse 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: Thats 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 Were 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 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 Id 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: Thats 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 cant afford to upgrade your facilities without considerable outside investment The bank won't lend you the money Helen: I havent 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: Thats great because I want to have a thorough understanding of what this entails before Cisions are mao Bill: The important point is that you have to demonstrate you're financially qualified to be listed
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 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 momen B: That's right A: You simply cant afford to upgrade your facilities without large external investments B: Perhaps I have to borrow money from the bank A: It wont lend you so much money B: I havent 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 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'lI 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 Chris: Oh, no! Not again! How many points did it lose this time? S 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! Thats great Susan: For now, anyway. It may plunge tomorrow
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 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 al ways lose money in the market. Can you give me a few tips? First of all, lets look at the stock listing in todays 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? B: Lets see... Thats 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 B: Lets 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 asic 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 al ways risk in the stock market Let's talk Gregory: I've been thinking about getting into the stock market, but I dont 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: Isnt that risky? Stocks that go up fast also tend to go down fast
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. Sometimesit’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 Gregs gory 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 <ly for a fast prof 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 Gregory hears that many people guess wrong. When they start to buy, the market continues to 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 dont know whether it's good time to invest in operty B: Soon it'll be high time to buy houses. There's been good news for buyers lately A:What’sit B: in the light of the speculative investment in real estate, the government has recently issued a umber 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 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?
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 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 al together 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 Task l: 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 NASDAQs complex computer and telecommunication network, which send eal-time quote and trade data to more than 1. 3 million users in 83 countries. Without size and location limitations, NASDAQs open market structure allows a virtually unlimited number of participants to trade in a companys stock. Today, NASDAQ lists the securities of nearly 4, 100 of the worlds leading companies, and each year it continues to help hundreds of companies go public. Trading on NASDAQ is not limited to any fixed number of participants. This allows a large number of firms with widely different business models and trading technologies to connect to the NASDAQ network and compete on an equal basis. Rather than forcing investors to go through a single financial firms called makers. More than 500 market making firms trade on NASDAQ acting ad distributors for NASDAQ-listed securities. Those market makers are unique in that they invest own capital in NASDAQ-listed securities, and then turn around and distribute the stock as eeded. They are required at all times to post their bid and ask prices in the nasdaQ network where they can be viewed by all participants. By being willing to buy or sell stock using their own funds, the market makers strengthen NASDAQ,s market, ensuing that there are al ways buyers and llers for NASDAQ-listed securities and enabling trades to be filled quickly and efficiently 1. How many participants does nasdaQ allow to trade in one companys stock? D) An unlimited number 2. What does NASDAQ's computer and telecommunications network do? C) It immediately sends quote and trade information to over 1. 3 million users. 3. According to the passage, which of the following is true of NASDAQ? A)It has launched more than 4,000 companies
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, which sends real—time quote and trade data to more than 1.3 million users in 83 countries. Without size and location limitations, NASDAQ’s open market structure allows a virtually unlimited number of participants to trade in a company’s stock. Today, NASDAQ lists the securities of nearly 4,100 of the world’s leading companies, and each year it continues to help hundreds of companies go public. Trading on NASDAQ is not limited to any fixed number of participants. This allows a large number of firms with widely different business models and trading technologies to connect to the NASDAQ network and compete on an equal basis. Rather than forcing investors to go through a single financial firms called makers. More than 500 market making firms trade on NASDAQ, acting ad distributors for NASDAQ-listed securities. Those market makers are unique in that they invest own capital in NASDAQ-listed securities, and then turn around and distribute the stock as needed. They are required at all times to post their bid and ask prices in the NASDAQ network where they can be viewed by all participants. By being willing to buy or sell stock using their own funds, the market makers strengthen NASDAQ’s market, ensuing that there are always buyers and sellers for NASDAQ-listed securities and enabling trades to be filled quickly and efficiently. 1. How many participants does NASDAQ allow to trade in one company’s stock? D) An unlimited number. 2. What does NASDAQ’s computer and telecommunications network do? C) It immediately sends quote and trade information to over 1.3 million users. 3. According to the passage, which of the following is true of NASDAQ? A) It has launched more than 4,000 companies
4. What role do the market makers play. B) They buy and sell NASDAQ stocks to help strengthen the market 5. Which of the following is the best title for the passage? A)The operation of NASDAQ Task 2: Stockbroker as liquidator In the midst of the shaky market of last week, many brokers got calls from their clients requesting they sell their shares. One broker told such a story One of my clients called me on Thursday. He was anxious and out of breath, and spoke with great urgency He said to me, Jone, sell it all. Sell everything, fast, right away I tried to explain to him that the market was cyclical, and that in the long term stocks would return He said, " John, let me tell you a secret. You know I,ve been married for sixty years now, and Ive been your client for five "Yes, go on. I said encouragingly Well, my wife Lucie has a sort of phobia about the market When we got married, I promised her that I would follow in her parents' footsteps and never venture into the stock market and al ways leave all our money under the mattress. Her great grandparents once lost everything in a great crash, and ever since then her family found investing in the market similar to crime Wow, Howard, I didnt know that I guess you want the money because the market is going down No, John, I want the money because she ordered a new mattress, and it is being delivered in two Task 3 A Stock market crash a stock market crash is a dramatic loss of shares of corporations. Crashes often follow speculative ock market bubbles such as the dot-com boom After the most famous crash in 1929, known as the black Thursday when the Dow Jones Industrial Average dropped 50%, there came the Great Depression. The following years saw the Dow drop a total of over 85% There was also a crash on Monday, October 19, 1987, known in financial circles as the black Monday, when the Dow lost 22%of its value in a single day, bringing to an end a five-year bull run. The pattern was repeated across the world The stock market downturn of 2002 was part of a larger bear market that took the NASDAQ 75%from its highs and broader indices down 30% Stock market crashes are driven by panic as much as by economics factors. They often follow
4. What role do the market makers play? B) They buy and sell NASDAQ stocks to help strengthen the market. 5. Which of the following is the best title for the passage? A) The operation of NASDAQ. Task 2: Stockbroker as Liquidator In the midst of the shaky market of last week, many brokers got calls from their clients requesting they sell their shares. One broker told such a story: One of my clients called me on Thursday. He was anxious and out of breath, and spoke with great urgency. He said to me, “Jone, sell it all. Sell everything, fast, right away.” I tried to explain to him that the market was cyclical, and that in the long term stocks would return to normal. He said, “John, let me tell you a secret. You know I’ve been married for sixty years now, and I’ve been your client for five.” “Yes, go on.” I said encouragingly. “Well, my wife Lucie has a sort of phobia about the market. When we got married, I promised her that I would follow in her parents’ footsteps and never venture into the stock market and always leave all our money under the mattress. Her great grandparents once lost everything in a great crash, and ever since then her family found investing in the market similar to crime.” “Wow, Howard, I didn’t know that. I guess you want the money because the market is going down.” “No, John, I want the money because she ordered a new mattress, and it is being delivered in two days.” Task 3: A Stock Market Crash A stock market crash is a dramatic loss of shares of corporations. Crashes often follow speculative stock market bubbles such as the dot-com boom. After the most famous crash in 1929, known as the Black Thursday when the Dow Jones Industrial Average dropped 50%, there came the Great Depression. The following years saw the Dow drop a total of over 85%. There was also a crash on Monday, October 19, 1987, known in financial circles as the Black Monday, when the Dow lost 22%of its value in a single day, bringing to an end a five-year bull run. The pattern was repeated across the world. The stock market downturn of 2002 was part of a larger bear market that took the NASDAQ 75%from its highs and broader indices down 30%. Stock market crashes are driven by panic as much as by economics factors. They often follow
