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  3. We’re moving into another era, as the toxic(有毒的)effects of the bubble(泡沫)and its grave consequences spread through the financial

We’re moving into another era, as the toxic(有毒的)effects of the bubble(泡沫)and its grave consequences spread through the financial

admin2014-11-24  83
问题     We’re moving into another era, as the toxic(有毒的)effects of the bubble(泡沫)and its grave consequences spread through the financial system. Just a couple of years ago investors dreamed of 20 percent returns forever. Now surveys show that they’re down to a "realistic" 8 percent to 10 percent range.
    But what if the next few years turn out to be below normal expectations? Martin Barners of the Bank Credit Analyst in Montreal expects future stock returns to average just 4 percent to 6 percent. Sound impossible? After a much smaller bubble that burst in the mid-1960s Standard & Poor’s 5000 stock average returned 6.9 percent a year(with dividends reinvested)for the following 17 years. Few investors are prepared for that.
    Right now denial seems to be the attitude of choice. That’s typical, says Lori Lucas of Hewitt, the consulting firm. You hate to look at your investments when they’re going down. Hewitt tracks 500,000 401(k)accounts every day, and finds that savers are keeping their contributions up. But they’re much less inclined to switch their money around. "It’s the slot-machine(老虎机)effect," Lucas says. "People get more interested in playing when they think they’ve got a hot machine"—and nothing’s hot today. The average investor feels overwhelmed.
    Against all common sense, many savers still shut their eyes to the dangers of owning too much company stock. In big companies last year, a surprising 29 percent of employees held at least three quarters of their 402(k)in their own stock.
    Younger employees may have no choice. You often have to wait until you’re 50 or 55 before you can sell any company stock you get.
    But instead of getting out when they can, old participants have been holding, too. One third of the people 60 and up chose company stock for three quarters of their plan, Hewitt reports. Are they inattentive? Loyal excessively? Sick? It’s as if Lucent, Enron and Xerox never happened.
    No investor should give his or her total trust to any particular company’s stock. And while you’re at it, think how you’d be if future stock returns—averaging good years and bad—are as poor as Barnes predicts.
    If you ask me, diversified stocks remain good for the long run, with a backup in bonds. But I, too, am figuring on reduced returns. What a shame. Dear bubble, I’ll never forget. It’s the end of a grand affair.
In the author’s opinion, employees should______.
选项 A、invest in company stock to show loyalty to their employer
B、get out of their own company’s stock
C、wait for some time before disposing of their stock
D、give trust to a particular company’s stock
答案B
解析 细节题。第五段中作者提到，年轻的雇员没有选择，只能等到50岁或55岁才能卖掉公司的股票。第六段则提到，而老雇员在能够退出(getting out)的时候却没有。60岁及以上的人中1／3选择公司股票作为他们3／4的投资计划。该段末句作者连续用几个问号对这种作法进行了质疑：难道他们疏忽了?过度忠诚?疾病?由此我们可推出作者的观点是反对投资自己公司的做法。因此B项正确，排除A项。第七段首句作者则提到，投资者不应该完全信任任何一家公司的股票。因此D项是作者反对的。C项文中未提。
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