Level 6 Unit 3 Part 4 Reading Investors Beware

When people talk about investing, they are always looking for the best advice. Many are willing to pay a lot for it. The problem with this, however, is that many financial advisor give the wrong advice. Ultimately, decisions must be made by the investors. Here are some guidelines that may help investors save a lot of money.

ultimately :英 [ˈʌltɪmətli] 美 [ˈʌltəmɪtli] adv. 根本;最后，最终;基本上;郅

---

First, a key to successful investing is time itself. What makes many investors rich is that they have invested over a long time. This allows their investments to grow, even if they weren’t active investors. Unfortunately, most people don’t start saving enough until it’s too late. That lack of time limits the power of compounding. So the best advice is to start saving as soon as possible.

缺乏时间限制了复利的力量。

所以最好的建议是尽快开始存钱

---

What about economic projections and earnings growth estimates? 

那么经济预测和收益增长预测呢？

The truth is, nobody knows. What they really reflect are people’s feelings about the future. It’s interesting to note that someone who buys a low-cost index fund on average does better than someone who invests in an expensive fund managed by famous experts. 

值得注意的是购买低成本指数基金的人比投资由著名专家管理的昂贵基金的人做得更好。

With investing, simple and basic can earn a bigger return than complex and expensive. 

通过投资，简单和基本的投资比复杂和昂贵的投资能获得更大的回报。

Sometimes the pros don’t know what they are talking about. They just talk as if they do.

estimate 英 [ˈestɪmət] 美 [ˈɛstəˌmet] n. 估计，预测;报价，预算书;评价，判断 vt. 估计，估算;评价，评论;估量，估价

index 英 [ˈɪndeks] 美 [ˈɪnˌdɛks] n. 索引;<数>指数;指示;标志

fund 英 [fʌnd] 美 [fʌnd] n. 基金;储备;现款;特别基金管理机构

index fund :英 [ˈindeks fʌnd] 美 [ˈɪnˌdɛks fʌnd] 指数化证券投资基金

pros： 职业人员；专业人员 

---

What about risk and volatility? One thing for sure is that the stock market will fluctuate. 

风险和波动性呢？

有一点是肯定的，那就是股市会波动。

volatility 英 [ˌvɒlə'tɪlətɪ] 美 [ˌvɒlə'tɪlətɪ] n. 挥发性;挥发度;反复无常

fluctuate 英 [ˈflʌktʃueɪt] 美 [ˈflʌktʃuˌet] vi. 波动;涨落 vt. 使波动;使动摇

Since 1900 one of the largest index funds has returned about 6% per year. Compare that to the average difference between any year’s highest close and lowest close which is 23%. When an expert tries to explain why the market is down, they are really trying to explain why the sun goes up and down.

 highest close:最高收盘价

---

And finally,beware! 

beware:英 [bɪˈweə(r)]  美 [bɪˈwer] v.当心;提防

The financial industry is  dominated by people whose only interest in your wealth is how much they can charge you. 

dominate :英 [ˈdɒmɪneɪt] 美 [ˈdɑ:mɪneɪt] v. 支配，影响;占有优势;在…中具有最重要的特色;在…中拥有最重要的位置

Unfortunately, the louder a financial expert is, the more exposure he will get even though he’s often wrong. 

不幸的是，一个金融专家的声音越大，他将得到更多的曝光,即使他常常是错的。

This is one of the most important things to know about finance. Don’t be misled by experts.