The english we speak(BBC教學)第244期:Bull and bear market 牛市和熊市

Neil is obsessed with the value of shares on the stock market. He tells Li how the ups and downs can be compared to the behaviour of two big animals.

尼爾對股市股價很着迷。他告訴莉股市的上下波動就好比兩種大型動物的行爲。

Note: This is not a word-for-word transcript.

注：音頻與文本並不完全對應。

Li: Hello, this is The English We Speak, with me Li… and Neil! … Neil?

莉：大家好，歡迎大家收聽地道英語節目，我是莉，這是尼爾，尼爾在哪？

Neil: Ah! Yes! Oh, hi Li, hi everyone!

尼爾：啊！對，嗨，莉，大家好！

Li: What's taking all your attention? You can't stop looking at your smartphone!

莉：什麼事情吸引了你的注意力？你一直不停地看手機！

Neil: Li, it's the stock exchange. I'm waiting to see if my shares have gone up. I want to be rich!

尼爾：莉，這是股票交易。我正在等待，想看看我的股票會不會漲。我想變得富有！

Li: Yeah. But you have to remember that the stock market can be very volatile. It means the value of shares can go down as well as up. How do you know if the market is good for investors?

莉：嗯。不過你要記住，股市非常不穩定。股價可能下跌，也可能上漲。你怎麼知道股市是不是對投資者有利？

Neil: Well, experts say it's a bull market when the price of shares on the stock market is rising. And they say it's a bear market when the price of shares on the stock market is falling.

尼爾：嗯，專家說股市價格上漲時就是牛市。而股市價格下跌時就是熊市。

Li: So a bull market is on the up and a bear market is when the price of shares is going down. Interesting. I wonder why…

莉：股價上漲是牛市，下跌是熊市。真有意思，我想知道爲什麼這麼說……

Neil: It's easy to understand. Think about the way these animals attack. The bull thrusts its horns up into the air…

尼爾：這很好理解。想想這兩種動物發動襲擊的方式。牛會把角頂向空中……

Li: Oh, yes, that's frightening…

莉：對，那很可怕……

Neil: It is. And the bear, on the other hand, swipes its paws down, so the shares go down. Do you get it?

尼爾：沒錯。而熊則相反，熊會用爪子往下打，就像股價下跌一樣。你明白了嗎？

Li: Yes, now I do. That makes it very clear. Let's hear some examples of how these expressions are used.

莉：現在我明白了。這樣表達的很明白。我們來聽些例句，看這些表達方式如何使用。

Examples

例句

Stocks rose in early trading. It was a bull market which stunned even the most pessimistic analysts. The financial crisis might be over.

股市在早盤上漲。這種牛市使最悲觀的分析師都感到震驚。金融危機可能已經結束了。

The index of the UK's biggest 100 companies, the FTSE 100, has fallen 15% in the last few months. However, we can only call it a bear market when the index drops 20% or more.

反映英國100家大公司股價的指數稱爲FTSE 100指數，過去幾個月以來FTSE 100指數下跌了15%。但是，只有在該指數下跌20%以上才能說股市進入熊市。

Neil: So you see, a bear market for when values are falling, and a bull market for when they're rising.

尼爾：股價下跌時就是熊市，而股價上漲時則稱爲牛市。

Li: Neil, you are not a big investor and you are not exactly an expert in high finances, are you?

莉：尼爾，你不是大投資者，你也不是高級金融的專家，對吧？

Neil: Well… er…no, not really.

尼爾：嗯……不是。

Li: Stop dreaming. If you like animals so much, let's spend the afternoon at the zoo.

莉：那就不要做夢了。如果你這麼喜歡動物，那我們下午就去動物園玩吧。

Neil: Well, that is a good idea! But could we stop by my stock broker's office on the way?

尼爾：這是個好主意！不過我們路上能順便去一下我股票經紀人的辦公室嗎？

Li: You are really hooked on this, aren't you? Let's go. Bye!

莉：你真是太沉迷股票了，不是嗎？我們走吧。再見！

Neil: Bye!

尼爾：再見！

譯文屬僅供學習交流使用，未經許可請勿轉載

重點講解：
1. on the other hand （從）另一方面（來說）（用於引出相對照的另一點）；
例句：On the other hand, nobody seemed excited about it.
另一方面，似乎沒有人對此感到興奮。
2. make clear 把…表達清楚；把…說明白；
例句：She makes clear to us that she wants to be master in her own house.
她使我們很清楚地瞭解到，她要自主處理自己的事情。
3. stop by 順便拜訪；順路探望；
例句：We suggested that she stop by that evening to talk things over.
我們建議她在那晚順便來找我們，把事情商量一下。
4. be hooked on （被…）迷住的；（對…）入迷的；
例句：She's really hooked on gardening.
她真的迷上了園藝。