NewHorizonVLS3Tapescripts of Unit10.docx

NewHorizonVLS3Tapescripts of Unit10.docx

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NewHorizonVLS3TapescriptsofUnit10

BasicListeningPractice

1.Script

W:

Letmerecommendmybrothertoyou.He’sreallydonewellinthestockmarketoverthelastfewyears.

M:

Therealquestionisthis:

Howhaveyoudinebytakinghisadvice?

Q:

Whatdoesthemanmean?

2.Script

M:

ManyinvestorsjumponIPOs,hopingtogetrichbygettingintoastockearlybeforeitgoesup.

W:

Butisn’tthatabitlikebuyingabookwithoutreadingit?

Imean,whatifitdoesn’tgoup?

Q:

Whatisthewoman’sopinion?

3.Script

W:

TheDowwasdownagaintoday.It’shardtomakemoneywhenhighfuelpricesarekillingthestockmarket.

M:

There’sstillmoneytobemade.Ifyouboughtoilfuturesthreemonthsago,you’dbesmilingrightnow.

Q:

Whatcanwelearnfromthedialog?

4.Script

M:

Ican’twaittogetbacktomycomputer.Onlinesharetradinghastotallychangedthestockmarketandthelivesofinvestors.HookuptotheInternetandbeyourownbroker!

W:

Inotherwordsyoucancutoutthemiddlemannow.Forabout＄500,youcanopenanaccountandbeginbuyingandsellingsharesfromyourownhome,24hoursaday.

Q:

WhichofthefollowingistrueiftheywanttotradesharesontheInternet?

5.Script

M:

Holdontoyourhat!

We’llberich.I’mbuyingsharesinanewcompany.

M:

Youcan’tbuyIPOsharesunlessyouhaveabigactivewithabroker.Thedayofdot-comfortunesfromIPOsareover.

Q:

Accordingtotheconversation,whatistheconditionforbuyingIPOshares.

1.D2.C3.A4.B5.C

ListeningIn

Task1:

Tellmeaboutthestockexchange.

Script

George:

I’msupposedtogiveapresentationonthestockexchange,butIdon’tyetknowathingaboutit.Couldyougivemesometips?

Diana:

Theproblemwithyouisthatyou’veskippedtoomanyclasses.Now,letmegiveyouafewtips.Firstofall,youneedtodefinethestockexchange.It’sanorganizationofbrokersandinvestmentbankers.InEuropeitisoftencalledabourse.

George:

Couldyoutellmemoreaboutit?

Like,howdoesitwork?

Diana:

Itprovidesfacilitiesforthetradingofcompanystocks,mainlythelocationandtherecord-keepingdevices.

George:

CanIgoandtradethere?

Diana:

Itdepends.Youhavetobeamemberoftheexchangebeforeyoucanbuyandsellsharesthere.Theycallithaving“aseat”ontheexchange.

George:

Somethingtheyusetheterm“stockmarket”.

Diana:

Well,thetradingofstockonstockexchangesiscalledthestockmarket.

George:

Howcanacompanybelistedonthestockexchange?

Diana:

Ithastomeetcertainrequirements.TobelistedontheNewYorkStockExchangelastyear,forexample,acompanyhadtohaveissuedatleastamillionsharesofstockworth＄16andhadtohavehadmorethan＄2.5millionnetincome.

George:

Wow,that’sahugesum!

Smallcompanieshaven’tgotachance.

Diana:

Bigcompanieshavemoreinfluenceonthestockpricesafterall.

George:

Iseewhatyoumean.

StockexchangeathingsometipsdefineinvestmentbankersEuropeamemberstockmarketrequirementsamillionsharesnetincome

Task2:

StockbrokerhelpsMr.Junkietoshort

Script

ABCstockreached＄155.“＄155”forastockthatshouldbevaluedat＄100.Wow!

“That’sit,”Isaidtomyself.“It’stimeImakeadecision.I’mgoingtoshortthatstock.”Ithoughttomyself,“Thisstockisovervalued.Itcan’tremainatthepresentlevelforlong.Thismeansmoneyinthebank.”

SoIphonedmybroker.

“Iwanttoplaceatrade.Iwanttoshort1,500sharesofABC.

“I’msorry,Mr.Junkie,”hesaid,“Ican’tprocessthatforyou.Youraccountiscashaccount.Youneedamarginaccounttoshortastock.Icansendyoutheapplicationformoryounearestfinancialinstitutiontofillouttheforms.”

TheminuteIgotofthephone,Iheardoutthedoorbecausetimeismoney.Irantothefinancialinstitutiontofillouttheformandsentittothebrokerbyexpressmailservice.NextmorningIcalledhim.

“Hello,it’sMr.Junkie.Didyougetmyapplication?

“Yes.”

“Great,IwouldliketoshortABCthen.”

“Oneminuteplease…I’msorry,Mr.Junkie,butyounowneedashorter’saccount.”

“What!

Youmeanthemarginaccountisn’tenough?

”

“No,youalsoneedashorter’saccount.Anyfinancialinstitutionnearbyhastheforms.”

OffIranagain.Icompletedtheformandhadataxidelivertomybroker.IntheafternoonIcalledagain.

“Hello,it’sMr.Junkie.Iwanttoshort1,500sharesofABCat＄155.”

Afewmomentslaterheanswered,“Mr.Junkie,Iamsorry,butIdon’tthinkthatispossible.”

“Whynot?

”

“Well,thelasttradewentthroughat＄99.”

F1.ThebrokerdidnotbelieveABCstockcouldremainat＄155forlong.

T2.Mr.Junkiewantedtoshort1,500sharesofABC.

T3.Mr.Junkiecouldgetamarginaccountthrougheitherafinancialinstitutionorhisbroker.

T4.Toshortastock,oneneedsbothamarginaccountandashorter’saccount.

F5.Mr.Junkieaskedataxidrivertheformsforamarginaccounttothebroker.

Task3:

WhoamIifIownstocks?

Script

Whenapersonbuysstocksinacompany,thatpersonbecomesashareholderinthatcompany.Stockholderisanothernameforshareholder.Ashareholdercanalsobecalledaninvestorofthecompany.Whenthatcompanymakesmoney,whichcanalsobecalledearnedincomeorprofit,thevalueofthecompany’sstockoftenincreases.That’sbecausemorepeoplemaybecomeinterestedininvestinginthecompany.Sometimes,shareholdersreceiveadividend,whichispartofthecompany’searnedincomes,intheformofacashpayment.

Somepeopletrytomakemoneybybuyingandsellingstocks.Stockpricescanmoveupanddown.Shareholdersmaymakemoneyorlosemoneybysellingstocksthattheyown,dependingonwhetherthepricehasgoneupordownsincetheyboughttheirshares.Acompany’sstockpricemaybeaffectedbymarketoreconomicconditions.Forexample,let’ssaythatBCDEnterprisesisasoftwarecompanythathasintroducedanewvideogameintothemarket.Ifthatgameisahit,salesofthevideogamecouldboostthecompany’searnings.BecauseofthepotentialforBCDEnterprisestogrow,itsstockmaybeviewedasanattractiveinvestmentanditsstockpricemaygoupasmorepeoplebuyitsshares.Ontheotherhand,let’ssaythevideogamethatBCDEnterprisesintroducedisaflop.Or,itcouldbeagoodtime,butBCDintroduceditatatimewhenpeoplearespendinglessonleisureproducts,andhardlyanyoneisbuyingthegame.Soit’sreportedthatBCDislosingmoneybecauseofthisnewproduct.ThenthestockpriceforBCDEnterprisesmaygodownifanumberofshareholdersdecidetoselltheirshares.

1.Whatisthepassagemainlyconcernedwith?

C）Theinfluenceofshareholders’buyingandsellingonacompany.

2.WhichofthefollowingisNOTthesameasashareholder?

B）Apersonsellingsharesonbehalfofothers.

3.Whatmayaffectacompany’sstockprice?

D）Alloftheabove.

4.Accordingtothepassage,whichofthefollowingistrueifacompany’sproductisgood?

A）Thecompany’sstockpricemaygoup.

5.WhydoesthespeakermentionBCDEnterprises?

D）BCDisusedasanexampletoillustratethestockmarketprinciples

SpeakingOut

MODEL1Thestockmarketisdrivenbyfearandgreed.

Chris:

Nora!

Nora:

HeyChris.Whythebiggrin?

Youlooklikethecatthatswallowedthecanary.

Chris:

Evenbetter.AnuncleIhardlyknewpassesawayandleftaninheritanceof＄100,000.SonowI’mthinkingofmakingsomeinvestments.

Nora:

Goodidea,thouhitwouldbemorefunifwespentittogether.Whatsortofinvestmentdoyouhaveinmind?

Chris:

Thestockmarketislookingattractive.It’sbeenabearmarketforseveralyearsnow,andIthinkstockpricesareprettydepressed.

Nora:

Thedeclingmarkethasinvestorsdepressed,too.

Chris:

Butallthingsworkincycles.Abearmarketwilleventuallybefollowedbyabullmarket.

Nora:

That’ssure.I’vebeenreadingthatinvestorsarecomingbacktothemarket,andthatwilldriveupthevalueofstocks.

Chris:

Ibelievethemarketispickingup.

Nora:

Butthere’sstillarisk.Wars,weatherproblems—alltheseimpactincestors’confidence.

Chris:

Iknowwhatyoumean.Thestockmarketisdrivenbyfearsndgreed.Wheninvestorsarecinfidentodmakingofafortune,theybuy—that’sgreedatwork.

Nora:

Butalongcomessomethingtoshaketheirconfidence…

Chris:

Likeariseininterestrates,forexample,andbingo,theybecomeafraidthattheymightlosetheirshares,sotheypulloutofthemarket.

NowYourTurn

A:

I’vesavedalotofmoneyoverthepastyears,andnowI’dliketoinvestitforaprofit.

B:

Whatsortofinvestmentdoyouhaveinmind?

A:

Thestockmarketislookingattractive.It’sbeenabearmarketforseveralyearsnow,andIthinkstockpricesareprettydepressed.

B:

Thefallingmarkethasdiscouragedmanyinvestors.

A:

Butallthingsworkincycles.Abearmarketwilleventuallybefollowedbyabullmarket.

B:

That’strue.Whenthemarketdoestouchitsbottom,it’llrebound.

A:

Ihopetheinvestorswillsooncomebacktothemarketanddriveitup.

B:

Butthere’restillrisks.Wars,weatherproblems—alltheseaffectbuyers’confidence.

We’renotsureifthemarkethasreacheditsbottom.

A:

Thebearmarkethaslastedoverfouryears;Ithinkit’stimeforittopickup.

B:

It’sreallyhardtosay.TheJapanesestockmarkethashadabearrunofabouttenyears.

A:

Really?

B:

AndwhenNASDAQfellfrom5,000pointsto3,000points,somepeoplebelieveitwasagoldenopportunitytoenterthemarket.Thenthemarketplunged.

A:

Sothestockmarketisreallyrisky.Imaylosemoney.

B:

Andmaybeevenyourshirts.

A:

Well,perhapsI’dbetterputmymoneyonthebank.

Thestockhastobelaunched.

Helen:

Youknow,thishasbeenaprivatelyownedcompanysincewefirstopened