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经济学人阅读|扉页文章 The real revolution on Wall

  经济学人The Economist是一份英国的英文新闻周报,分八个版本于每周五向全球发行,编辑部位于伦敦,创办于1843年9月。

  经济学人是一本综合性新闻评论刊物,有商业、国家和地区、经济和金融、科学和技术五大类。其中文章文风紧凑且严谨,对语言精准运用,展现出一种克制的风趣幽默,常运用双关语调侃。

  经济学人对于英语考试的重要性不言而喻,其文章常常出现在雅思托福、SAT、GRE、GMAT、考研英语、四六级、MTI和CATTI的阅读理解真题中。

  

经济学人阅读|扉页文章 The real revolution on Wall


  今天羚羊君(公众:aa-acad)给大家分享的是经济学人2021年02月06日期刊中扉页文章的第一篇:The real revolution on Wall Street

  这篇文章阐述了目前科技对于金融行业革新的影响以及散户对于华尔街的冲击。

  想要阅读往期内容,可以在公众号右下角点击"更多资讯-长文阅读"进入专栏。

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经济学人阅读|扉页文章 The real revolution on Wall


  The real revolution on Wall Street

  华尔街的革命

  Events on Wall Street have become so strange that Net?ix is said to be planning a show to immortalise them. But what should be the plot? One story is of an anti-establishment movement causing chaos in high ?nance, just as it has in politics. Another is how volatile shares, strutting online traders and cashcrunches at brokerage ?rms signal that a toppy market is poised to crash. Both gloss over what is really going on. Information technology is being used to make trading free, shift information ?ows and catalyse new business models, transforming how markets work (see Finance section). And, despite the clamour of recent weeks, this promises to bring big long-term bene?ts.

  华尔街的事件已变得如此诡异,以至于网飞计划拍一个剧来留住这样的故事。但是情节应该是什么呢?其中一个故事是一场反建制运动,如同在政治领域中一样,在金融领域引起了极大的混乱。另一个故事是,动荡的股市、强撑的在线交易员和经纪公司的现金紧缩如何预示着顶级市场将要崩溃。两个故事都掩盖了实际情况。信息技术的应用使交易自由、使信息流转移并催生新的商业模式,从而改变市场的运作方式(参见“财务”部分)。并且虽然最近几周相关问题仍然存在争执,但这样的变革有望带来长远的好处。

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经济学人阅读|扉页文章 The real revolution on Wall


  Don’t expect screenwriters to dwell on that, obviously. Their focus will be the 8m followers of WallStreetBets, an investment forum on Reddit, who have invented a new ?nancial adventurism: call it swarm trading. Together, they bid up the prices of some obscure ?rms in late January. This triggered vast losses at hedge funds that had bet on share prices falling (see Buttonwood). And it led to a cash squeeze at online brokers which must post collateral if volatility rises. Since January 28th the most prominent, Robinhood, has raised $3.4bn to shore itself up.

  显然,不要指望编剧对此有所关注。他们的重点将是Reddit上的一个投资论坛WallStreetBets的800万粉丝,他们发明了一种新的金融冒险主义:称之为群体交易。他们共同在1月下旬抬高一些默默无名的公司的价格。这引发了押注股价下跌的对冲基金的巨额亏损(参见Buttonwood),导致在线经纪人的现金紧缩。如果波动性增加,这些在线经纪人们则必须发布抵押。自1月28日以来,在此项行动中最为突出的公司Robinhood已筹集了34亿美元以支撑自己。

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经济学人阅读|扉页文章 The real revolution on Wall


  The swarm seems to have moved on. This week the price of some favoured shares sank and silver leapt. Meanwhile, in many markets the normal rules of play have been suspended. Almost 300 “spacs” listed last year, raising over $80bn and allowing ?rms to ?oat without the hassle of an initial public o?ering (ipo). Tesla has become America’s ?fth most valuable ?rm. Bitcoin, having gone from the fringe to the mainstream, has a total value of $680bn. Trading volumes for shares are at their highest in at least a decade and those for some derivatives are o? the charts.


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