时间:2018-12-05 作者:英语课 分类:金融英语


英语课

  [00:00.00]Chapter 3   Securities

[00:01.87]第三章有价证券

[00:03.74]Unit 5  Securities(I)

[00:06.28]第五单元有价证券(I)

[00:08.83]Dialogue Stock Market

[00:11.73]股票市场

[00:14.63]P:Do you know anything about the stock market?

[00:17.74]关于股票市场,你们都知道些什么?

[00:20.85]S:No more than the name itself.Stock market is new in China.

[00:24.59]就是知道这个名称而已,股票在中国还是很新的东西.

[00:28.34]P:In the largest cities in many countries,

[00:31.19]在许多国家的大城市里,

[00:34.04]you may want to visit the stock exchange.

[00:36.04]你可能应该去看看它们的股票交易所.

[00:38.03]There are stock exchanges in Paris,London,Tokyo,Toronto and many other places.

[00:42.63]巴黎、伦敦、东京、多伦多等许多城市都有股票交易所.

[00:47.23]One of the largest,most famous,and most important stock exchanges in the world

[00:51.28]而其中最大,最有名也最重要的是

[00:55.33]is located in New York City.

[00:57.08]纽约股票交易所.

[00:58.83]The market,as a stock exchange is sometimes called,

[01:01.73]股票市场,可股票交易所

[01:04.63]is important to many people because they make money by investing in it.

[01:08.22]对许多人来说很重要,因为他们想在这里投资赚钱.

[01:11.81]Today,we will explain in the stock exchange itself

[01:14.36]今天,我们要解释一下什么是股票交易所,

[01:16.90]and describe the process of investing money in the stock market.

[01:19.31]以及如何投资.

[01:21.71]First,can you tell me what a market is?

[01:24.26]首先,你能告诉我什么是市场吗?

[01:26.80]S:A market is a place where people sell things and buy things.

[01:29.76]市场是人们买东西和卖东西的地方.

[01:32.71]P:Yes,the stock market is also a place where an exchange of things takes place.

[01:36.01]是的,股票市场也是一个买卖交换的场所,

[01:39.32]The things exchanged at the stock market are shares or stocks in business or companies.

[01:43.26]只不过股票买卖的是公司或企业的股份.

[01:47.21]Notes:shares

[01:51.52]The things exchanged at the stock market are shares or stocks in business or companies.

[01:58.31]share

[02:28.51]S:What are shares?

[02:30.41]什么是股份?

[02:32.32]P:Shares represent a partial ownership of the company.

[02:35.26]股份代表着对公司的部分所有权.

[02:38.20]In other words,if you buy shares of stock in a business,

[02:41.89]换句话说,如果你买了一个企业的股份,

[02:45.59]you become a partial owner of the business.

[02:48.39]你就成了这个企业的所有人之一.

[02:51.18]The stock market,or stock exchange,then,

[02:53.99]股票交易所里,

[02:56.80]is a place where people can buy or sell shares in a particular company or business.

[03:00.34]人们进行某个公司或企业的股份买卖.

[03:03.88]S:Why do people buy or sell shares?

[03:06.12]为什么人们要买卖股份呢?

[03:08.37]P:Many different kinds of people buy stocks in the stock market.

[03:11.22]各种各样的人在交易所里买卖股票:

[03:14.06]Some of these people are very wealthy.

[03:16.17]有些人很富有,

[03:18.27]They have a lot of money,

[03:19.92]他们有很多钱;

[03:21.56]they have much more money than they really need for everyday living expenses.

[03:24.90]除了日常开销外.

[03:28.25]They buy stocks in hope of getting more money than they have.

[03:31.10]他们买股票是希望得到更多的钱;

[03:33.94]Other people are not very rich,but they buy stocks anyway.

[03:37.23]有些人不大富有,他们也买股票,

[03:40.53]They may buy them in order to become rich;

[03:42.56]是为了想变成富有的人

[03:44.60]or they buy them as part of a plan to save money.

[03:47.11]或是把它作为存钱的一种方式.

[03:49.62]There are still many other reasons why people buy and sell stocks.

[03:52.86]他们买卖股票还有许多别的原因.

[03:56.09]In general,everyone who buys and sells stocks hopes to make money.

[03:59.24]但总之,每个人都是为了赚钱.

[04:02.39]All the people who buy stocks are actually investing money in a company or business.

[04:06.23]所有买了某公司或企业股票的人实际上是在向这个公司或企业投资,

[04:10.07]They are called...

[04:12.11]他们被称为…

[04:14.15]S:Investors 2.Why does a company want to share its money with other people?

[04:18.04]投资者,那么为什么一个公司愿意和别人分享所有权呢?

[04:21.93]P:There are various reasons.

[04:24.23]有各种原因.

[04:26.53]By selling stocks a company can get the money it needs to expand.

[04:29.78]通过销售股票,一个公司可能得到它发展所需的资金.

[04:33.03]Sometimes,it is advantageous 3 for a company to go public for tax reasons.

[04:36.94]有时,一个公司是为了缴税有利而"上市"的.

[04:40.84]Notes:go public Sometimes,it is advantageous for a company to go public for tax reasons.

[04:49.72]go public

[04:55.03]The company may save money on taxes by selling shares on the stock exchange.

[04:58.93]该公司在股票交易所所卖股份可以节省税金.

[05:02.84]When a company is in debt to banks,by selling stocks,

[05:05.49]当一个公司欠银行的钱,公司也可能出售股票

[05:08.14]it may be able to pay the banks.

[05:09.89]来偿还银行的钱.

[05:11.64]Many companies sell their stocks for this reason.

[05:14.74]许多公司出售股票是为了这个原因.

[05:17.83]However,the reasons why companies sell their stocks on the stock exchange

[05:21.18]但是公司在股市出售股票的原因

[05:24.52]are often complex.

[05:26.11]是很复杂的.

[05:27.71]In general,those who sell shares of stock on the stock exchange

[05:31.91]总之,这些公司在股市上出售股票

[05:36.12]need to raise money for one reason or another.

[05:38.46]都是为了这样和那样的目的而筹集资金.

[05:40.79]Supplementary Reading 1 Stocks

[05:43.68]股票

[05:46.57]The shares represent a partial ownership of the company.

[05:49.20]股票代表公司的部分所有权.

[05:51.84]Notes:The shares represent a partial ownership of the company.

[05:58.32]blue-chip stocks,common stock cumulative 4 preferred stock

[06:10.52]All the people who buy stocks are investing money in a company or business.

[06:13.58]所有购买股票者都是在对公司或企业投资.

[06:16.63]Some people buy stocks as part of a plan to save money.

[06:18.88]有睦人购买股票是作为储蓄计划的一部分.

[06:21.13]Dividends 6 are usually sent to investors once every three months while they own the stock

[06:24.13]股息通常每季一次分给股民.

[06:27.13]Sometimes,it is very advantageous for the company to go public for tax reasons.

[06:30.48]有时,出于税收原因,发行股票对公司十分有利.

[06:33.82]There are different kinds of risks

[06:34.97]有不同程度的风险,

[06:36.12]for different kinds of investments in different kinds of stocks.

[06:38.17]对不同种类股票的不同类型的投资具

[06:40.22]Of all the different kinds of securities,common stocks are the most risky 7 investment.

[06:43.72]各种不同的证券中,数普通股的风险最大.

[06:47.22]Common stocks have no specified 8 yearly cash payments or maturity 9 date.

[06:50.72]普通股票没有明确的年偿还金额,也没有偿还日期.

[06:54.22]Its returns for the investment depend on the payout ratio of the corporation.

[06:57.42]普通股的投资回报取决于发行股票的公司的派息率.

[07:00.62]Higher payout ratio and more bonus stocks will make the price of the shares higher

[07:03.82]派息率越高、送红股越多,就会使普通股的股价越高,

[07:07.02]and will bring considerable capital gain.

[07:09.07]带来客观的资本增值.

[07:11.12]The following are the risks of common stocks:

[07:13.33]普通股的风险有:

[07:15.54]firstly,the payout ratio is not guaranteed;

[07:17.73]首先,派息率是无保证的;

[07:19.93]secondly,if the corporation is to close accounts unfortunately,

[07:22.23]其次,如果公司不幸清盘,

[07:24.53]the stockholders are the last to have the right for the distribution of property,

[07:27.07]普通股的股民是最后一批获得财产分配的,

[07:29.62]while the assets are to be distributed first among the preferred stockholders.

[07:32.61]公司资产首先在优先股股民中进行分配.

[07:35.60]Preferred stocks are similar to bonds

[07:37.00]优先股与债券相似,

[07:38.40]in that they have stated face values and a specified dividend 5 payment.

[07:41.15]它们有明确的面值和确定的股利.

[07:43.91]The direct cause of stock price is the relation between supply and demand of stocks.

[07:46.86]影响股票价格走向的直接原因是股票的供求关系.

[07:49.81]There is a saying that the investor 1's atmosph ere is the temperature of the stock market.

[07:52.96]有个说法:人气是股市的温度计.

[07:56.11]The more people invest in stocks,the higher the stock prices rise.

[07:59.06]买进的人多了,股市行情就看涨;

[08:02.01]The more people heavily sell stocks,the lower the stock prices fall.

[08:04.75]卖出的人多了,股市行情就看跌.

[08:07.50]The economic situation at home and abroad,

[08:09.20]国内及国外的经济状况,

[08:10.89]including the interest rate,the exchange rate,

[08:12.89]包括利率、汇价、

[08:14.89]easy money(expansion of money supply)or tight money(contraction of money supply)

[08:18.39]银根的松紧(货币供应量的扩大与缩小)

[08:21.89]has a long term influence on stock prices.

[08:24.23]对股价有长期的影响.

[08:26.57]The stability of internal or external politics

[08:28.46]国内外政治稳定程序

[08:30.35]have great influence on the stock prices.

[08:32.00]对股市有很大的影响.

[08:33.65]The business performance of a company can influence the stock price

[08:36.15]公司的业绩对股价也产生影响,

[08:38.66]in that it makes its stock price

[08:40.41]公司的业绩使其股价

[08:42.16]go in contrary directions to most of the stock prices in the large stock market.

[08:45.36]与大市股价分道扬辘.

[08:48.56]The stock price of a promising 10 and profit-making enterprise

[08:50.61]前景看好且盈利的公司,

[08:52.66]may only itself go up while others are going down.

[08:54.86]在大市股价趋跌中,其股价独升.

[08:57.05]On the contrary,if it has a bad business performance

[08:59.00]如果其公司业绩不佳,

[09:00.94]its stock price may only itself go down while others are going up.

[09:03.74]在大市趋升中,其股价会独跌.

[09:06.53]The influence becomes obvious

[09:08.08]这方面的影响尤为明显

[09:09.62]at the time when companies are declaring their financial performance.

[09:12.76]在宣布业绩期间.

[09:15.91]Unit 6 Securities (II)   Dialogue

[09:19.15]第六单元有价证券(II)

[09:22.39]S:How can investors make money?

[09:24.28]投资者如何才能赚钱呢?

[09:26.18]P:Good question!

[09:27.73]问得好!

[09:29.29]Investors who buy shares or stock in a company may make money in two ways.

[09:32.88]在股市上买了某公司股票的投资者可通过两种方式赚钱.

[09:36.47]They may begin to make money right away.

[09:39.17]他们可能很快就赚钱.

[09:41.88]Suppose that a person invests in a company and the company makes money.

[09:45.43]如果一个人买了一家效益很好的公司的股票,

[09:48.98]The company shares this money with the investor

[09:51.73]公司与投资者共享所挣的钱,

[09:54.47]This money it shares is called a dividend.

[09:58.48]这分享的钱叫做红利.

[10:02.49]Notes:The company shares this money with the investor.

[10:09.18]This money it shares is called a dividend.

[10:13.67]Notes:dividend

[10:53.17]Dividends are usually sent to investors once every three months

[10:55.50]红利一般一季度分一次,

[10:57.84]as long as they own the stock.

[10:59.33]只要他们拥有股票.

[11:00.82]A second way that investors may make money

[11:04.72]投资者赚钱第二种方式是

[11:08.63]is to sell the stock at a higher price than they formerly 11 bought.

[11:11.48]将股票以高于他们买时的价格卖出去.

[11:14.32]The price of each share will go up if the company does very well.

[11:17.38]如果公司经营有方,它们的股票会增值;

[11:20.44]It may also go up for many other reasons.

[11:23.13]其它许多原因也会使股票增值.

[11:25.82]When it goes up,a person may sell it and make a profit.

[11:28.77]一旦价格上扬,持有者就可以把它们卖出以获利.

[11:31.72]S:Could you please give me an example to show how this process works?

[11:34.92]你能给我举个例子说明一下这个过程吗?

[11:38.12]P:Yes,for example,Mr.And Mrs.Brown have $1000 to invest.

[11:42.37]可以,比如说,布朗夫妇想把1000美元用于投资.

[11:46.61]They talk to a stock broker 12 who can help them to buy a good stock.

[11:49.36]他们找一位股票经纪人谈.

[11:52.10]He tells them about the Ward 13 Pencil Company,

[11:54.55]这位经纪人告诉布朗夫妇沃德笔公司的情况,

[11:57.01]which is making a lot of money by manufacturing pencils

[11:59.86]这家公司通过生产铅笔赚了钱,

[12:02.70]and it is selling shares of stock in order to get money to expand.

[12:05.60]为了得到扩大生意的资金,这家公司正在出售股份,

[12:08.50]The share cost $5 each

[12:10.45]每股5万元.

[12:12.40]The Browns have decided 14 to buy 100 shares of stock in the Ward Pencil Company.

[12:16.25]布朗夫妇决定买100股.

[12:20.10]The broker fills this order,and the Browns own these 100 shares.

[12:23.35]经纪人填了单,布朗夫妇就拥有100股.

[12:26.61]Three months later,the Ward Pencil issues a dividend of $1 a share.

[12:30.25]三个月后,沃德公司发每股1美元的红利.

[12:33.89]The Browns have 100 shares,so they get a $100 dividend.

[12:36.79]布朗夫妇一共得了100美元.

[12:39.69]A year later,the company expands.

[12:41.60]一年后,公司扩大,

[12:43.51]It sells many more pencils.The price of the stock goes up to $6 a share.

[12:47.35]生意更火,股票价格涨到每股6美元.

[12:51.19]So the Browns get back $600,plus all the money they have received in dividends.

[12:55.08]所以布朗一家共得到股息600美元.

[12:58.97]This is a good investment.

[13:01.07]他们的投资得到了客观的回报.

[13:03.18]S:It is also possible for the investors to get a complete loss,isn't it?

[13:07.07]投资也有可能什么也拿不回来,对吗?

[13:10.96]P:Investing money in the stock market

[13:12.70]投资股市

[13:14.44]is not at all the safest way in the world to make money.

[13:16.83]并非世界上最安全的赚钱方式.

[13:19.22]There is no guarantee,for example,

[13:21.27]例如,人们并不能保证

[13:23.32]that the Ward Pencil Company will do well,and that the stock will go up.

[13:26.97]沃德公司会很兴隆,股票会涨.

[13:30.63]The company may do badly.

[13:32.68]该公司生前可能很糟,

[13:34.73]Then the stock will go down,and the investors will lose money.

[13:37.88]股票会因此下跌,投资者就会赔钱.

[13:41.03]The stock may go up or down for a number of very complex reasons.

[13:43.82]股票涨跌是由于许多复杂原因.

[13:46.62]Everyone wants the stock market to go up,

[13:48.67]人人都希望股票上涨,

[13:50.72]but sometimes,even when a company does well the stock may go down.

[13:53.72]但即使有时公司生意兴隆其股票也会下跌.

[13:56.73]This is usually for all stocks.

[13:58.62]对所有股票来说都如此.

[14:00.52]S:You mean it is risky to invest money in the stock market?

[14:03.66]您的意思是投资于股票市场是有风险的?

[14:06.81]P:Well,investing money in the stock market is a gamble.

[14:09.50]投资股票是一场赌博.

[14:12.19]Everyone hopes to make money by investing.

[14:14.49]人人都希望投资股市赚钱.

[14:16.79]Companies that need money are glad

[14:18.75]需资金的公司很高兴

[14:20.71]that many people are willing to gamble in order to make money.

[14:22.85]看到许多人因为想赚钱而赌博.

[14:24.99]The stock market is a very interesting and complex part of the business world.

[14:28.14]股票市场是商业世界中一个非常有趣而复杂的部分.

[14:31.29]Supplementary Reading Bonds,Interest Rates,and Bond Prices

[14:34.93]债券、利率、债券价格

[14:38.58]Bonds are simply IOUs issued by firms and governments.

[14:41.67]债券是由公司或政府签发的形式简单的欠款单.

[14:44.77]Notes:bonds   Bonds are simply IOUs issued by firms and governments.

[15:35.58]Issuing bonds is a method of borrowing money to finance economic activity.

[15:38.58]签发债券是为经济活动融资进行借款的一种方式.

[15:41.58]The entity 15 issuing the bond

[15:43.48]签发债券的实体

[15:45.37]promises to pay the bondholder the amount borrowed(called principal)

[15:48.08]承诺偿还向债券持有人所借的本金

[15:50.78]at a designated future date plus a fixed 16 amount of interest

[15:54.23]以及固定的息金,在将来一个指定的日期.

[15:57.68]Notes:principal   The entity issuing the bond

[16:01.99]promises to pay the bondholder the amount borrowed (called principal)

[16:06.97]at a designated future date plus a fixed amount of interest.

[16:28.37]Some bonds pay the interest at designated intervals 17

[16:30.77]有的债券是在每年固定日期支付息金.

[16:33.18](i.e.,on a specific date each year).

[16:38.27]Notes:Some bonds pay the interest at designated intervals

[16:43.78](i.e.,on a specific date each year).

[17:11.18]Notes:designated intervals  Others pay both principal and interest

[17:13.68]有的债券同时支付本金和息金,

[17:16.17]when the bonds mature at a specified date in the future.

[17:18.33]在将来某一个日期当债券到期时.

[17:20.48]The bond shown here is a typical government bond.

[17:22.87]在此列举的是典型的政府债券(公债券).

[17:25.26]The face value of the bond is $10,000.

[17:27.51]债券的面值为10000美元.

[17:29.76]Notes:The face value of the bond is $10,000 face value

[17:59.85]and the bond will pay the owner 9.25 percent interest paid annually 18

[18:02.95]并且每年支付债券持有人9.25%的利息

[18:06.04](half in August and half in February) over a 30-year period.

[18:08.59](一半在八月支付,一半在二月),偿付期为30年.

[18:11.13]The bond matures on February 15,2016.

[18:13.93]债券于2016年2月16号到期.

[18:16.72]At that time,the owner of the bond

[18:18.02]届时,债券持有人

[18:19.31]will receive from the Treasury 19 Department the $10,000 principal,

[18:21.86]将收到财政部偿还的10000美元的本金

[18:24.41]plus the interest for the final six months.

[18:26.35]以及最后六个月的息金.

[18:28.30]Even though most bonds are issued for long periods of time,

[18:30.35]尽管大多数债券的偿还期较久,

[18:32.40]they can be sold to another party to their maturity.

[18:34.40]但是仍可以将债券在偿还期之前卖给第三方.

[18:36.40]Notes:maturity They can be sold to another party to their maturity.

[19:06.31]Each day,sales of previously 20 issued bonds comprise the majority of bonds

[19:09.05]每天,一些活动都是针对以前发行的债券,

[19:11.79]bought and sold on the bond market.

[19:13.24]即股市上进行的买卖。

[19:14.69]Like most stocks traded on the stock market,

[19:16.48]正如股市上的股票买卖一样,

[19:18.27]new issues of bonds account for only a small part of all bond sales.

[19:20.72]新发行债券的买卖只占所有交易的一小部分.

[19:23.18]How does a change in the market interest rate affect bond prices?

[19:25.53]市场利率的变化是如何影响债券的价格的?

[19:27.88]Suppose you have just bought a newly issued $1,000 bond

[19:30.23]假设你购买了刚刚发行的1000美元的债券,

[19:32.58]that pays 8 percent per year in perpetuity (forever)on the $1,000 principal.

[19:35.98]你将获得本金百分之八的永续年金.

[19:39.38]Notes:Suppose you have just bought a newly issued $1,000 bond

[19:44.18]that pays 8 percent per year in perpetuity(forever)on the $1,000 principal.

[19:50.27]Notes:perpetuity

[20:15.58]As long as you own the bond,you are entitled to a fixed return of $80 per year.

[20:15.08]只要你拥有债券,就能获得每年80美元的年金.

[20:14.58]Let us also assume that,after you have held the bond for one year

[20:17.93]让我们假设,你已经拥有该债券一年时间

[20:21.27]and have collected your $80 interest for that year,

[20:23.22]并且已经获得80美元的年金,

[20:25.16]the market interest rate increases to 10 percent.

[20:27.51]现在市场利率上升到10%.

[20:29.86]Notes:The market interest rate increases to 10 percent.

[20:35.66]market interest rate

[21:03.07]How will the increase in the interest rate affect the market price of your bond?

[21:05.70]该市场利率的提高是如何影响债券的市场价格的呢?

[21:08.34]Since bond purchasers can now earn 10 percent interest

[21:10.59]债券购买人能获得10%的年金,

[21:12.83]if they buy newly issued bonds,

[21:14.48]如果他们现在购买新发行的债券

[21:16.13]they will be unwilling 21 to pay more than $800 for your bond,

[21:18.32]因此若高于800美元他们就不乐意收购上述面值为1000美元的债券,

[21:20.51]which pays only $80 interest per year.

[21:22.36]因为这种债券每年只有80%美元的年金.

[21:24.20]After all,why would anyone pay $1,000 for a bond

[21:26.14]但是,为什么有人愿意用1000美元购买年金

[21:28.09]that yields only $80 interest per year

[21:29.93]只有80美元的债券,

[21:31.77]when the same $1,000 will now purchase a bond

[21:33.88]而用同样的1000美元

[21:35.98]that yields $100(10 percent)per year?

[21:38.17]现在可买到年金100美元的债券?

[21:40.37]Once the interest rate has risen to 10 percent,

[21:42.22]一旦市场利率升到10%,

[21:44.08]your 8 percent $1,000 bond will no longer sell for its original value.

[21:47.53]你拥有的年金为本金8%的1000美元的债券就无法按面值出售.

[21:50.97]If potential buyers expect the new 10 percent rate to continue,

[21:53.08]如果购买者预期10%的市场利率还会继续攀升,

[21:55.18]the market value of your bond will fall to $800.

[21:57.43]那么你的债券市场价值就跌到800美元.

[21:59.67]Notes:market value The market value of your bond will fall to $800.

[22:33.79]You have experienced a $200 capital loss on the bond during the year.

[22:36.83]你每年遭受200美元的资本损失.

[22:39.87]Notes:You have experienced a $200 capital loss on the bond during the year.

[22:47.27]capital loss

[23:22.66]Rising market interest rates cause bond prices to decline.

[23:26.15]逐渐攀升的市场利率使得债券价格下跌.

[23:29.64]On the other hand,falling interest rates will cause bond prices to rise.

[23:32.38]相反,下跌的市场利率会使债券价格上升.

[23:35.12]If the market interest rate had fallen to 6 percent,

[23:37.23]如果市场利率跌破6%,

[23:39.33]what would have happened to the market value of your bond?

[23:41.43]债券的市场价格会如何变化呢?

[23:43.54](Hint:$80 is 6 percent of $1,333).

[23:47.23](提示:80美元的年金若占本金的6%,则本金为1333美元)

[23:50.93]Bond prices and interest rates are inversely 22 related to each other.

[23:53.72]债券市场价格同利率成反比.



1 investor
n.投资者,投资人
  • My nephew is a cautious investor.我侄子是个小心谨慎的投资者。
  • The investor believes that his investment will pay off handsomely soon.这个投资者相信他的投资不久会有相当大的收益。
2 investors
n.投资者,出资者( investor的名词复数 )
  • a con man who bilked investors out of millions of dollars 诈取投资者几百万元的骗子
  • a cash bonanza for investors 投资者的赚钱机会
3 advantageous
adj.有利的;有帮助的
  • Injections of vitamin C are obviously advantageous.注射维生素C显然是有利的。
  • You're in a very advantageous position.你处于非常有利的地位。
4 cumulative
adj.累积的,渐增的
  • This drug has a cumulative effect.这种药有渐增的效力。
  • The benefits from eating fish are cumulative.吃鱼的好处要长期才能显现。
5 dividend
n.红利,股息;回报,效益
  • The company was forced to pass its dividend.该公司被迫到期不分红。
  • The first quarter dividend has been increased by nearly 4 per cent.第一季度的股息增长了近 4%。
6 dividends
红利( dividend的名词复数 ); 股息; 被除数; (足球彩票的)彩金
  • Nothing pays richer dividends than magnanimity. 没有什么比宽宏大量更能得到厚报。
  • Their decision five years ago to computerise the company is now paying dividends. 五年前他们作出的使公司电脑化的决定现在正产生出效益。
7 risky
adj.有风险的,冒险的
  • It may be risky but we will chance it anyhow.这可能有危险,但我们无论如何要冒一冒险。
  • He is well aware how risky this investment is.他心里对这项投资的风险十分清楚。
8 specified
adj.特定的
  • The architect specified oak for the wood trim. 那位建筑师指定用橡木做木饰条。
  • It is generated by some specified means. 这是由某些未加说明的方法产生的。
9 maturity
n.成熟;完成;(支票、债券等)到期
  • These plants ought to reach maturity after five years.这些植物五年后就该长成了。
  • This is the period at which the body attains maturity.这是身体发育成熟的时期。
10 promising
adj.有希望的,有前途的
  • The results of the experiments are very promising.实验的结果充满了希望。
  • We're trying to bring along one or two promising young swimmers.我们正设法培养出一两名有前途的年轻游泳选手。
11 formerly
adv.从前,以前
  • We now enjoy these comforts of which formerly we had only heard.我们现在享受到了过去只是听说过的那些舒适条件。
  • This boat was formerly used on the rivers of China.这船从前航行在中国内河里。
12 broker
n.中间人,经纪人;v.作为中间人来安排
  • He baited the broker by promises of higher commissions.他答应给更高的佣金来引诱那位经纪人。
  • I'm a real estate broker.我是不动产经纪人。
13 ward
n.守卫,监护,病房,行政区,由监护人或法院保护的人(尤指儿童);vt.守护,躲开
  • The hospital has a medical ward and a surgical ward.这家医院有内科病房和外科病房。
  • During the evening picnic,I'll carry a torch to ward off the bugs.傍晚野餐时,我要点根火把,抵挡蚊虫。
14 decided
adj.决定了的,坚决的;明显的,明确的
  • This gave them a decided advantage over their opponents.这使他们比对手具有明显的优势。
  • There is a decided difference between British and Chinese way of greeting.英国人和中国人打招呼的方式有很明显的区别。
15 entity
n.实体,独立存在体,实际存在物
  • The country is no longer one political entity.这个国家不再是一个统一的政治实体了。
  • As a separate legal entity,the corporation must pay taxes.作为一个独立的法律实体,公司必须纳税。
16 fixed
adj.固定的,不变的,准备好的;(计算机)固定的
  • Have you two fixed on a date for the wedding yet?你们俩选定婚期了吗?
  • Once the aim is fixed,we should not change it arbitrarily.目标一旦确定,我们就不应该随意改变。
17 intervals
n.[军事]间隔( interval的名词复数 );间隔时间;[数学]区间;(戏剧、电影或音乐会的)幕间休息
  • The forecast said there would be sunny intervals and showers. 预报间晴,有阵雨。
  • Meetings take place at fortnightly intervals. 每两周开一次会。
18 annually
adv.一年一次,每年
  • Many migratory birds visit this lake annually.许多候鸟每年到这个湖上作短期逗留。
  • They celebrate their wedding anniversary annually.他们每年庆祝一番结婚纪念日。
19 treasury
n.宝库;国库,金库;文库
  • The Treasury was opposed in principle to the proposals.财政部原则上反对这些提案。
  • This book is a treasury of useful information.这本书是有价值的信息宝库。
20 previously
adv.以前,先前(地)
  • The bicycle tyre blew out at a previously damaged point.自行车胎在以前损坏过的地方又爆开了。
  • Let me digress for a moment and explain what had happened previously.让我岔开一会儿,解释原先发生了什么。
21 unwilling
adj.不情愿的
  • The natives were unwilling to be bent by colonial power.土著居民不愿受殖民势力的摆布。
  • His tightfisted employer was unwilling to give him a raise.他那吝啬的雇主不肯给他加薪。
22 inversely
adj.相反的
  • Pressure varies directly with temperature and inversely with volume. 压力随温度成正比例变化,与容积成反比例变化。 来自《简明英汉词典》
  • The amount of force needed is inversely proportional to the rigidity of the material. 需要的力度与材料的硬度成反比。 来自《简明英汉词典》
学英语单词
accessary thyroid glands
acoelous vertebra
actual worth
add-drop multiplexing
aggregate price effect
all-witty
alopecia unguium
Amanotkel
anoa depressicorniss
aparasitemic
automatic blow-off valve
Baiomys
banque de affaires
basal bodies
bewhete
block chlorination
bull sessions
burgher republics
Böttingen
central placenta tion
Charcot's zone
cudgel one's brains
dacryocystotome
DBD
depreciation of a currency
descending on
digital immune system
dimethylnaphthalene
Divisões, Sa.das
drone trap
eczematoid seborrhea
furuncle in the site between the eyebrows
gamblei
genetic engineering project
gentiler
ichthyootoxic fishes
immune system
information fatigue
konigite
lamp ultraviolet
lateral thrust
law-abidding
legal binding
Leptodermis gracilis
limiting magnitude
line-fetch
load susceptance
look down at
macrocephalies
macroscopic system
MAGLOC
main purpose rule
make a long harvest for a little corn
manti
master file index
millier
mirror stage
molecular field
mullineuxes
natural convection heat transfer
nutritive yolk
open stock
overthrust block
oxyuras
paleodepth
Pentrefoelas
petaloidy
phantom letter
photon excited atom
prenodal
Protium serratum
pround flesh
radix jalalae
reinstitutionalising
relative complement of set
reversing water sampler
Richard John Roberts
rossington
rotating extractor
Row number
runner pin
ryania
scaphoid abdomen
scleroderms
semibalance
shaggymane
sideroscope
sodium reduction
solar-magnetic dipole field
spheroidization of pearlite
sports biochemistry
spruce needle rust
supplementary storage
syndrome of coagulation cold due to blood deficiency
syracosphaera ossa
trimethylamino-acetic acid
unperceptivenesses
user agent layer
usurous
verbal
waiver of obligation
xenocontamination