【Native Speaker每日综合训练—38系列】【38-10】经管 ETF

wnj2611339

内容：wnj2611339  编辑：wnj2611339

公益申请名额，每月一名  

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Today's topic is Exchange Traded Fund (ETF), 交易型开放式指数基金，因为本人对于这个基金还不是很了解，所以饶有兴趣地选择这方面的文章了来增长知识。

Speaker这方面比较难找呢，所以打了擦边球，请见谅！Speed 属于科普知识类的文章，比较适合像我们这种初学者，呵呵~然后obstacle的文章有点旧，但我认为是一篇很不错的文章，不是特别深奥，具有可读性，而且可以加深我们对ETF的了解。

如果你想在读之前以中文的形式会会这个基金，那么请点这里，百度百科告诉你 ---＞http://baike.baidu.com/view/890551.htm?from_id=4947183&type=syn&fromtitle=%EF%BC%A5%EF%BC%B4%EF%BC%A6&fr=aladdin

好啦，废话不多说啦~
Enjoy your reading！

Part I: Speaker

Investing Your Money

Audio Index:
Slow dialogue: 1:24
Explanations: 3:28
Fast dialogue: 18:39

Karen: My company offers a 401(k) plan. Do you think I should have one?

Jimmy: Yes, definitely. I had a 401(k) account when I worked for McQ Corp, and when I started working on my own I converted it to an IRA.

Karen: I really don’t understand any of these investment options. I talked to an investment specialist at my bank, but I left her office just as confused as when I went in.

Jimmy: Look, you want to have a diversified portfolio of lower-risk and higher-risk investments. On the low-risk end, put money in bonds, CDs, or a money market account. You want to balance that out with some riskier investments that may bring a higher return, such as mutual funds and stocks.

Karen: Wow, all of that just went over my head. I don’t know a CD from a bond.

Jimmy: It’s really simple. Your choice ranges from a fixed return to a variable return, and the variable investments carry different levels of risk.

Karen: My head hurts. Are you sure I really need all of these investments?

Jimmy: Not all of them, but it would be smart to invest your money in something.

Karen: Not if I spend it all first, right?

Jimmy: Right. You know what they say: “A fool and his money are soon parted!”


Source：ESL Podcast
http://www.eslpod.com/website/show_podcast.php?issue_id=10460238

[Rephrase 1, 20:36]

SukeyZhou

Time 2  00:01:04
Time 3  00:01:21
Time 4  00:01:54
Time 5  00:02:23
Time 6  00:01:50

TaoRs92

1+2
The introduction of ETF.
-------------
3
Not all funds are equal.
Not all investors are equal.
-------------
4
The costs.
What you own when you choose to buy ETF.
-------------
5
A new ETF appears. Bet against a stock.
While others heavily short the stock, ETF buys the share and let the prices go higher.
------------
The introduction of ETF indsutry.
Features:
1 cheap and convenient
2 expand quickly
3 concentrated
Controversy--regulation or restriction concerns:
1 some products--synthetic ETFs
2 leveraged ETFs
Future trend.

漾yang

T2: 2:24.
Exchange-traded fund: flexibility; trade on exchanges
Invest in: first ETF: track plain-vanilla indexes
        Mature ETF with more funds: invest in complicated, risky and more expensive fields
Cost: low

T3: 2:40
        How to buy: buy from a broker. The cost may be high especially for those who investing small sums of money. Pay commission when you earn.
        ETF or mutual funds: same when track the performance of a large index; invest a big chunk of money at once: ETF; small trunks of money over time : mutual funds
        How to choose: ETFs that track broad markets indexes with strong performance records and rock-bottom fee; diversify your investment

T4: 2:55
Not all ETFs are created equally: understand the fund’s goal
Not all investors are created equally: buy-and-hold investors or active traders

T5: 2:30
Know how to calculate total cost: management fee is lower than mutual funds, but investors should pay attention to less apparent fees.
Know what you own: risk

T6: 2:15
Because the stocks are heavily shorted, there is a new ETF coming to market.

Obstacle: 8:36
Advantages:
financial innovation
Cheapness and convenient
Disadvantages:
synthetic ETFs : swaps , worried about the links between investment banks and synthetic ETFs
leveraged ETFs, a geared exposure to an asset may mislead investors.

happyxgb

time 2: 01:14
time 3: 01:20
warm up: 00:24
time 4: 01:27
time 5: 01:24
time 6: 01:40
Obstacle: 06:16
1. Intro of ETF
2. Reasons for its popularity: cost & rapid expansion
3. No going down trend: three top companies control 70%
4. There is controversy when branched out & alarm authorities the relationship with investing banks
5. Although no regulation, investors have been held their wallet.
6. Another worry is from geared exposure
7. So far, no scandal tarnish the image of ETFs

viennall

speaker
401K account and IRA are both retirement saving accounts.
401 should be opened by company and IRA can be opened on your own.
You don't have to pay tax and you put your money in an account.
You need to diversify the investment of lower risk and higher risk investment.
Bond, CD and money in bank account have low risks. You won't lose money but have little returns.
Mutual fund and stocks have high risks. You may lose money but have big returns.
It is smart to invest your money in something.


speed
02'09 ETF was invented to combine the simplicity and low costs of index mutual funds with the flexibility of individual stocks. It invests in some engineering business and has low annual operating cost.
01'34 You have to by ETF through brokers. If you buy a big chunk of money at once, you choose ETF. Otherwise, you choose mutual fund. You choose ETF which tracks broad market indexes.
02'55 Not all the ETF are created equal. Not all the investers are created equal.
01'50 Know how to calculate the cost. Know what you own.
02'09 A new short squeeze fund from ETFS is set to trade. It tracks shares of smaller companies and risky.


obstacle
06'53
main idea：The discussion of ETF.
structure：
The first ETF came up twenty years ago.
ETF is one of the most successful financial innovations in recent decades. It is cheap and convenient.
ETF is widely used to invest almost any asset.
There seems to no sign of a slowdown in the industry's growth.
Index-tracking is possible to achieve economies of scale.
The industry rise with some controvesy about synthetic ETFS and leveraged ETF.
If you dream up an investment style, the industry will create an ETF to match.

ffffionabear

————感谢卤煮~~~科普文涨姿势啊~~~~！！！嘿~你的作业~不，是你的作业~(￣_,￣ ) ~~~#作业天天见~~#~~~进击的阅读小分队~~~\(^o^)/~——————————————————
[speaker]
Speakers are talking about different kinds of retirement saving project.
401(k)plan:certain kind of retirement saving program,for company.
IRA:retirement saving program open for you.
[speed]
1'57
ETF(Exchange-traded funds) is a kind of mutual funds that combine the simplicity and low cost(most of time you don't need to pay for the tax bill) of mutual funds with the flexibility of individual stocks.
2'01
The biggest disadvantage for ETF is that you have to buy it from a broker,which means you should pay brokerage commissions whenever you buy or sell.And if you want to invest a big chunk at once,ETF would be a good choice,otherwise,mutual funds would be better.
33'
ETF has grown so fast in the investing world.
2'35
Key points you should know before investing ETFs:
1.Not all ETFs are created equal:not all ETFs have all well-known benefits defined online,think twice before investing if you don't understand it.
2.Not all investors are created equal:Understanding yourself as a investor,what's your aim using ETFs,for long term or short term,as a core block or occasional rebalancing.
1'43
3.Know how to calculate cost,focus on the total cost
4.Know what you own.ETFs trade on public freely,so there comes a assessing risk.
1'40
A new ETF called "short squeeze" allow investors bet whether the stock will turn around.
[obstacle]
5'24
main idea:ETFs has developed so fast during the last twenty years.
advantages:
1.cheapness and convenience
2.flexibility:the industry has expanded so rapidly,so the investors can use ETFs to invest in almost any asset class,
controversies(about regulations):
1.synthetic ETFs rised the authorities's worry about its link to investment banks,which make the economic brittle.
2.leveraged ETFs give investors a geared exposure to the asset class,making the risk wide-spread.
solution:all risks are in critics' image,the market will create its own system to get through.

samalagorn

Time2 ：01：06
Time3 ：01：35
Time4 ：01：57
Time5 ：01：26
Time6 ：01：15

Obstacle: 05:29
ETF has been the most innovative financial instrument in the recent years.
ETF has two advantages,cheapness and convenience.
ETF can not eliminate risks thoroughly ,and synthetic ETF has drawn some regulators' attention.

wnj2611339

主页菌 发表于 2014-6-29 11:31
I have to delete this seat's message~ you know, we can only take one seat of the first page~ ma ...

haha, I understand, thank you ~

小麦爱自由

主页菌 发表于 2014-6-29 11:41
Hey, how lovely are those daisy~
hope you still remember to finish reading the passage in 3 day ...

Sorry about that
I'll finish it by tonight.