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  3. The term investment portfolio conjures up visions of the truly rich the Rockefellers, the Wal-Mart Waltons, Bill Gates. But toda

The term investment portfolio conjures up visions of the truly rich the Rockefellers, the Wal-Mart Waltons, Bill Gates. But toda

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问题      The term investment portfolio conjures up visions of the truly rich the Rockefellers, the Wal-Mart Waltons, Bill Gates. But today, everyone from the Philadelphia firefighter, his part-time receptionist wife and their three children, to the single Los Angeles lawyer starting out on his own needs a portfolio.
     A portfolio is simply a collection of financial assets. It may include real estate, rare stamps and coins,, precious metals and even artworks. But those are for people with expertise. What most of us need to know about are stocks, bonds and cash (including such cash equivalents as money market funds). How do you decide what part of your portfolio should go to each of the big three? Begin by understanding that stocks pay higher returns but are more risky; bonds and cash pay lower returns but are less risky.
     Research by Ibbotson Associates, for example, shows that large company stocks, on average, have returned 11.2 percent annually since 1926. Over the same period, by comparison, bonds have returned an annual aver age of 5.3 percent and cash, 3.8 percent. But short term risk is another matter. In 1974, a one year $ I000 investment in the stock market would have declined to $ 735.
     With bonds, there are two kinds of risk: that the borrower won’t pay you back and that the money you ’11 get won’t be worth very much. The U.S. government stands behind treasury bonds, so the credit risk is almost nil. But the inflation risk remains. Say you buy a $1000 bond maturing in ten years, ff inflation averages about seven percent over that time, then the
$1000 you receive at maturity can only buy $ 500 worth of today’s goods.
     With cash, the inflation risk is lower, since over a long period you can keep rolling over your CDs every year (or more often). If inflation rises, interest rates rise to compensate.
     As a result, the single most important rule in building a portfolio is this: If you don’t need the money for a long time, then put it into stocks, If you  need it soon, put it into bonds and cash.
The author of the passage points out that ______.
选项 A、keeping cash is the only way to avoid risks
B、the longer you own a stock, the more you lost
C、the high rate of profit and high rate of risk coexist in stocks
D、the best way to accumulate wealth is by investing in stocks
答案C
解析 作者指出可以是文章中直接提到的，也可以是作者的言外之意，要结合文章判断四个选项本身是否正确。A“保留现金是避免风险的唯一方式”，作者鼓励合理投资，显然这不是作者意思；B“你持有股票越久，你损失越大。”这句话本身有误，文章中也没有提及；C“高利润和高风险在股票市场中同时存在”，这正是第三段中“stocks  pay higher returns but an more risky．”意思，所以正确；D“积累财富最好的方式是投资股票”，作者在文章最后明确指出“如果你长期不需要用钱，就投资股票；如果你短期要用，
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