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26个有趣的经济类词汇（9）fallen angle - [商务英语]
2009-10-06
9. fallen angle 下坠天使：大公司的高价证券因某些不利的负面消息而使价格突然下跌。
Fallen Angel
What Does Fallen Angel Mean?
1. A bond that was once investment grade but has since been reduced to junk bond status. 曾是投资级别的债券突然跌至垃圾债券状况。
2. A stock that has fallen substantially from its all time highs. 一股价从持续的高位彻底下跌。
Investopedia explains Fallen Angel
There is a fine line between fallen angels that are value stocks and those that are headed straight towards bankruptcy. 在“堕落天使”“和直奔破产”之间仅存在一个微妙的差别。（以上词条解释来自：http://www.investopedia.com/，翻译者为Pin本人，因未经校对，仅供参考，欢迎指正。）
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26个有趣的经济类词汇（8）Chinese Wall - [商务英语]
2009-09-13
8.Chinese Wall 中国墙：不可逾越的障碍物，用以阻止华尔街商行的交易区不公正地使用投资银行家们从客户那里秘密获得的信息。
Chinese Wall 中国墙
What Does Chinese Wall Mean?
The ethical (not physical) barrier between different divisions of a financial (or other) institution to avoid conflict of interest. A Chinese Wall is said to exist, for example, between the corporate-advisory area and the brokering department to separate those giving corporate advice on takeovers from those advising clients about buying shares. The "wall" is thrown up to prevent leaks of corporate inside information, which could influence the advice given to clients making investments, and allow staff to take advantage of facts that are not yet known to the general public.Investopedia explains Chinese Wall
Maintaining client confidentiality is crucial to any firm, but particularly large multi-service businesses. Where firms are providing a wide range of services, clients must be able to trust that information about themselves will not be exploited for the benefit of other clients with different interests. And that means clients must be able to trust in Chinese Walls. Some Wall Street scandals in recent years, however, have made some people doubt the effectiveness of Chinese Walls, as well placed executives of respectable firms have traded illegally on inside information for their own benefit.英文说明摘自：Investopedia
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26个有趣的经济类词汇（7）butterfly spread - [商务英语]
2009-09-03
7.butterfly spread 蝴蝶差：同时在相同或不同的市场上买或卖三种期货合同，产生利润和借贷权。
Butterfly Spread 蝴蝶差
What Does Butterfly Spread Mean?
An option strategy combining a bull and bear spread. It uses three strike prices. The lower two strike prices are used in the bull spread, and the higher strike price in the bear spread. Both puts and calls can be used. 一种混合牛市套利和熊市套利的期货战略。它采用三种定约价。两个较低的订约价用于牛市套利，而较高价格的用于熊市套利。买进和卖出均可。Investopedia explains Butterfly Spread
This strategy has limited risk and limited profit. 这种期货策略可降险止损。（以上词条解释来自：http://www.investopedia.com/，翻译者为Pin本人，因未经校对，仅供参考，欢迎指正。） -
26个有趣的经济类词汇（6）bottom fisher - [商务英语]
2009-09-01
6.bottom fisher 底部钓鱼人：寻找那些价格已跌至最底点，即将发生转机的商品或股票投资者。在有些情况下指购买破产或濒临破产组织的股票或债券的人们。
Bottom Fisher 底部钓鱼的人
What Does Bottom Fisher Mean?
An investor who looks for bargains among stocks whose prices have recently dropped dramatically. The investor believes that a price drop is temporary or is an overreaction to recent bad news and a recovery is soon to follow.形容那些寻找低价股的投资者。有些股票价格短期内很快地下跌，这些投资者认为暂时的股价下跌是因为一些利空消息，其价格即将发生转机并迅速回升。Investopedia explains Bottom Fisher
A bottom fisher may attempt to find stocks that the market has undervalued through fundamental analysis. Bottom fishers may also be more active during prolonged bear markets where there may be stocks getting hammered through panic selling. Unfortunately, it's difficult to tell the difference between a bargain and a stock that has fallen for a fundamental reason.底部钓鱼者试图寻找一些被基础分析过低估值的市场，他们在恐慌性抛售股票、压低股价且持续低迷的熊市中显得更加活跃。不幸的是，要辨别一支股票到底是买得便宜还是亏本，却是很难的。 -
26个有趣的经济类词汇（5）bed and breakfast deals - [商务英语]
2009-08-31
5.bed and breakfast deals 床头和早餐交易：卖空骗局。个人或公司根据事先安排的交易，先卖出股票，继而在第二天买回，以此形成一个抵消资本收益的税损。本做法仅存于英国。
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26个有趣的经济类词汇（4）bear trap - [商务英语]
2009-08-29
4.bear trap 空头陷阱：当股票下跌时，引起大量抛售，然后价格又上涨。
Bear Trap
What Does Bear Trap Mean?
A false signal that the rising trend of a stock or index has reversed when it has not.股票或股指欲投机拉升估价时，抛出利空信号，而实际上是相反的。（注：以降低拉升所需的资金压力）
Investopedia explains Bear Trap
This can occur during a bear market reversal when short sellers believe the markets will sink back to its declining ways. If the market continues to rise, the short sellers get trapped and are forced to cover their positions at higher prices. 这会在熊市中发生，当一些做空者认为股市会持续下跌，股价反而上涨。如果股市继续上涨，那么做空者就被套并以更高的价格反手做多空。 -
26个有趣的经济类词汇（3）basket purchase - [商务英语]
2009-08-28
3. basket purchase 一篮子购买：以一种价格购买一组资产。然而在记帐时，每件物品可以单独记入，并对每件资产指定一个成本。
很显然，basket purchase属于财会用语，我在 CPA Finder 上，找到一位佚名网友的回复，其中举了一个浅显的例子来讲解何谓“整购”或“一篮子购买”
Basket Purchase 整购、一篮子购买
What Does Basket Purchase Mean?
A basket purchase is the acquisition of several transactions in one transaction. More often than not, a single price is assigned to the entire purchase, and the accountants are left to sort out the details.“整购”或“一篮子购买”是指将多笔交易作为一笔交易购买。通常，以一种价格购买一组资产，然后由会计处理细账。
For instance, if ABC Development purchased a building and land for $599,000. The “normal” course of action would be to ask an appraiser to determine the market value of each. Typical results would be something like this: 举个例子，如果“ABC发展”购置了一房产和一片地，共计599，000美元。一般情况下，我们需要找一名估价师确定每样资产的市价，典型结果如下：Building $350,000
房产
Land $300,000
土地
Total $650,000
合计
ABC didn’t waste their money on the appraisal. Even though they paid less than the appraised values (which is a good thing) they can still use this to assign reasonable values to both assets. The appraisal indicated the land is worth 46% ($300,000 / $650,000) of the total value and the building is worth 54% ($350,000 / $650,000). The accountants can apply these percentages to the purchase prices to make the following cost allocation: ABC没有在估价上浪费资金。即便他们用少于估值的价格购买了如上资产（这是个好交易），他们仍然可以使用它去为这两种资产估价。估价显示土地占总资产的46%($300,000 / $650,000) ，房产占54%。会计师可根据这个比例用于购买价格，并将以下资产重新指定成本。
Building ($599,000 X 54%) $323,460
房产
Land ($599,000 X 46%) $275,540
土地
Total $599,000
合计
（以上词条解释来自：http://www.investopedia.com/，翻译者为Pin本人，因未经校对，仅供参考，欢迎指正。）
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26个有趣的经济类词汇（2）backdoor listing - [商务英语]
2009-08-27
2.backdoor listing 后门上市：一家公司因其自身未能符合交易所上市规定，便买进一个上市公司，将自身并入其中而使自己能够上市。
Back Door Listing 借壳上市
What Does Back Door Listing Mean?
A strategy of going public used by a company that fails to meet the criteria for listing on a stock exchange. To get onto the exchange, the company desiring to go public acquires an already listed company. 一种上市手法：一家公司因其自身未能符合交易所上市规定，便买进一个上市公司，将自身并入其中而使自己能够上市。Investopedia explains Back Door Listing
Believe it or not, purchasing a public company can be a cost-effective way for some firms to go public. 信不信由你，买进一家上市公司来借壳上市是划算之举。（以上词条解释来自：http://www.investopedia.com/，翻译者为Pin本人，因未经校对，仅供参考，欢迎指正。）
Pin's English Notebook
梦醒了，起身走向森林，一步一步，累计成熟。
