规划股票投资组合
课文学习台
Planning a Share Portfolio
区分观点、依据、例子与限制，用自己的话准确重建论述。
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第1段
There is no shortage of tipsters around offering "get-rich-quick" opportunities. But if you are a serious private investor, leave the Las Vegas mentality to those with money to fritter. The serious investor needs a proper "portfolio"—a well-planned selection of investments, with a definite structure and a clear aim. But exactly how does a newcomer to the stock market go about achieving that?
我们周围不乏兜售暴富机会的情报贩子。 但是，如果你是一个严肃的个人投资者，就把拉斯维加斯的赌徒心态留给那些把钱浪费掉的人吧。 严肃的投资者需要（构建）合适的投资组合—— 一个合理计划的投资产品选择，配以明确的资产结构和清晰的投资目的。 但是,一个股市新人又如何能准确制定投资组合呢？
第2段
Well, if you go to five reputable stock brokers and ask them what you should do with your money, you're likely to get five different answers,—even if you give all the relevant information about your age, family, finances and what you want from your investments. Moral? There is no one "right" way to structure a portfolio. However, there are undoubtedly some wrong ways, and you can be sure that none of our five advisers would have suggested sinking all or perhaps any of your money into Periwigs.
如果你去五家声誉良好的股票经纪商咨询你应该如何规划你的资金，你很可能得到5种不同的答复——即便你提供了所有相关的个人信息，包括年龄、家庭情况、个人财务状况，以及你的投资目标。这说明什么呢？没有唯一“正确” 的构建投资组合的方法。 然而，毫无疑问，却有几种错误的方法，你可以肯定我们这五家经纪商中，不会建议你把全部 （或一部份）资金投入 Periwigs 公司。
第3段
So what should you do? We'll
那么你该怎么做
第4段
assume that you have sorted out the basics— like mortgages, pensions, insurance and access to sufficient cash reserves. You should then establish your own individual aims. These are partly a matter of personal circumstances, partly a matter of psychology.
呢？我们假定你已对于投资产品的基础知识有所了解，比如抵押贷款、养老金、保险和可动用的足够现金储备。然后，你应该确立自己的投资目标。这个目标部分视乎个人所处的境地，部分视乎个人的心理素质。
第5段
For instance, if you are older you have less time to recover from any major losses, and you may well wish to boost your pension income. So preserving your capital and generating extra income are your main priorities. In this case, you'd probably construct a portfolio with some shares but not high risk ones, along with gilts, cash deposits, and perhaps convertibles or the income shares of split capital investment trusts.
比如说，如果你年纪较大，一旦遭受重大损失，你用来弥补损失的时间也较少，你可能很希望能够提高你的养老金收入。因此，你的首要任务就是保存你的本金和产生额外的收入。在这种情况下，你大概想制定一份包括某些股份（但不是风险很大的股份）的投资组合，同时还有英国国债、现金存款，可能还有可转换债券，或是分割资本投资信托的收入级份额。
第6段
If you are younger, and in a solid financial position, you may decide to take an aggressive approach—but only if you're blessed with a sanguine disposition and won't suffer sleepless nights over share prices. If you recognize yourself in this description, you might include a couple of heady growth stocks in your portfolio, alongside your more pedestrian investments. Once you have decided on your investment aims, you can then decide where to put your money. The golden rule here is "spread your risk"—if you put all of your money into Periwigs International, you're setting yourself up as a hostage to fortune.
如果你年轻一些，并且财务状况稳健，你则可能会决定采取进取的投资策略— —不过你需要性格乐观，不会因股价的波动而失眠。如果你认为自己符合以上描述，你可能囊括一些迅猛的成长股，和你比较平常的投资一起放入投资组合。一旦确立好了你的投资目标，你就可以决定资金如何分配了。这里的黄金法则是：分散你的风险。如果你把所有的资金投入Periwigs 国际公司，你这是把自己作为人质，听天由命了。
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译文与解析据吴应时整理资料及本站首轮审校稿；词伙与练习提示为本站学习设计。原PDF第228—234页，2022年2月第2版。