Date
12/15
College English (Week 14 – Dec. 15)
Schedule
Activities
Business 1. Review business news from I.C.R.T.
2. Interpretation Practice
On Politics & Economics
Extensive reading -- NT dollar
3. Listening practice –news report
4. Reading & Writing – Part 2
Group project on Business
5. Feedback
Review
Listening Practice—Adapted from I.C.R.T
On Words
1. fight off 擊退
2. plunge 大跌 3. Nikkei (日本)日經(指數)
4. yen 日圓
5. slip 滑落
6. greenback 美元
7. Hang Seng (香港)恆生指數
Supplements—股市、匯市、綜合篇
股市篇
◎關鍵字 Dow (Jones) (美國)道瓊工業指數；Hang Seng (香港)恆生指數
NASDAQ 納斯達克綜合指數；Nikkei (東京)日經指數；U.S. stocks 美
TAIEX 台股；TAIEX weighted index 台股加權指數；Wall Street 華爾街、美股
Expression:
股市收盤指數使用的句型：

The Hang Seng index fell / dropped / lost 107 points, finishing / ending /
closing at 10,492.
◎漲跌的說法
1. The Dow climbed 159 points to 7,842.
2. The Dow jumped 155 points, or 2 percent, to 7,997.
3. The NASDAQ loses 36 points, sliding to a six-year low of 1,184 and the Dow
drops more than 100 points, or about 1.5 percent, to 7,872.
4. Stocks tumbled as the Dow lost 183 points, or 2.3 percent, ending at 7,755.
5. US stocks rebounded strongly overnight.
匯市篇
◎關鍵字 greenback 美元；NT 台幣；U.S. dollar 美金；yen 日圓
Expression:
1. The NT gained strength against the U.S. dollar, closing at 34.099, up 0.018.
2. The yen was stronger against the dollar, trading at 124.18, up 0.36 yen.
3. The yen lost some ground this afternoon, trading against the greenback at 116.22,
down 0.04 yen.
Full Text
Over in Japan, Tokyo stocks fought off a morning decline to close slightly
higher, on hopes that Wall Street’s latest plunge would bring an end to
months of weakness in U.S. stocks. The Nikkei gained 27 points to end
trading at 10,622. The yen slipped against the greenback, trading at
120.34, down 0.78 yen. And in Hong Kong, stocks closed lower, pulled
down by Wall Street. The Hang Seng index fell 107 points, finishing at
10,492.
Interpretation Practice
The Words
1. appreciate 升值
2. depreciate 貶值 3. press 施壓
4. local currency 當地貨幣 5. in dollar terms 以美元為單位
6. inflow 湧入
Class Practice
美元最近一直在貶值；同時，美國一直在施壓，要人民幣升值。
它的目的何在呢？
首先，因為美國每天有十幾億美元湧入國內，以應付國內的種種
開銷，而美國公司在海外的收入都是外幣，所以較便宜的美元意味著
當地貨幣會轉為較多的美元。所以，弱勢的美元貨幣政策可以刺激；
美國的經濟成長。
America has been depreciating the American dollar while, at the same
time, pressing China to appreciate the RMB yuan. What are they up to?
First of all, since the US economy needs a more than one billion
US-dollar inflow from abroad to finance its balance of payments deficit,
profits made abroad, in local currencies, can translate into higher figures
in dollar terms at a low dollar value. As a result, a weaker US dollar
would boost the US economy.
Extensive reading
Further reading on Business -- NT dollar hits 13-year high
Taipei Times Wed, Dec 15, 2010 - Page 12
http://www.taipeitimes.com/News/biz/archives/2010/12/15/2003490951
INTERVENTION: The central bank allegedly intervened to prevent the rise from
hurting exports, but analysts expect the rise of Asian currencies to continue
over the long term
By Lisa Wang / Staff Reporter
An electronic board shows the value of the NT dollar as it rose to
NT$29.89 to the US dollar yesterday, its strongest level in 13 years. The
currency pared its gains in late trading and closed at NT$30.45.
PHOTO: CHANG CHIA-MING, TAIPEI TIMES
The New Taiwan dollar yesterday surged to NT$29.89, its strongest level
in 13 years in the morning session against the US currency, but pared its
gains later after alleged central bank intervention. It rose NT$0.15, or
nearly 0.5 percent, to end at NT$30.45.
The US dollar has continued its recent weakness after the US Federal
Reserve said it might step up its US$600 billion bond purchase plan to
bolster the US economy.
“The fact that the US government could take further economic stimulus
measures means its economy remains weak,” a dealer at the Bank of
Taiwan (BOT, 臺灣銀行) said. “That will lead to more hot money
inflows [into emerging markets] and further weaken the US dollar against
the euro and other currencies like the NT dollar.”
The NT dollar’s appreciation yesterday matched the rise in the euro and
major Asian currencies against the US dollar, the central bank said in a
statement. The Japanese yen rose 1.01 percent and the South Korean won
rallied 0.49 percent versus the greenback, while the euro appreciated 1.92
percent, the central bank’s data showed.
Dealers said the central bank intervened to help stabilize the local
currency and to prevent the nation’s economic growth from derailing.
“To keep the nation’s economic growth on track, the central bank is
trying to keep the NT dollar at a relatively stable level, which local
technology companies can tolerate,” said the BOT dealer, who preferred
to remain anonymous.
Exports are one of the major pillars of Taiwan’s economic growth and
electronics goods make up the biggest proportion of those exports.
In the long term, “Asian currencies will stick to the existing uptrend,”
Citigroup economist Cheng Cheng-mount (鄭貞茂) said.
That strength would come from robust stock market momentum, Cheng
said, saying that as long as overseas fund managers keep buying local
stock, the demand for local currency would grow.
“Taiwanese stocks are attractive to foreign investors because of robust
economic growth and strong demand for its electronic goods,” Cheng
said.
Yesterday, overseas fund managers bought a net of NT$8.2 billion
(US$274.6 million) in local stocks, bringing the net purchase to
NT$43.93 billion since early this month, according to the Taiwan Stock
Exchange’s tallies.
The NT dollar is expected to stabilize at the NT$30.5 level versus the US
dollar this quarter, Taipei-based Polaris Research Institute (寶華綜合經
濟研究院) has projected.
Because the US Senate has passed US President Barack Obama's plan to
extend the Bush-era income-tax cut bill, the institute's president Liang
Kuo-yuan (梁國源) said that could reduce the possibility of the US
Federal Reserve taking another round of quantatative easing measures.
"That tax-cut bill's passage indicates no double-dip recession risk for
the US economy. And that would help boost the US dollar," Liang said.
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Group Project on Reading & Writing Practices
陳靖、薪潔—What to do with $$10,000 now?
鈺頷、盈嫻—Starbucks – Something about its intellectual property
品臻、瑀旋、虹君—Good Jobs
又麟、芝帆、振宇—The Find: 85C in Irvine
宇樵、廷偉、昱安—Business
陳靖 薪潔：What to do with $10,000 now
Given the uncertain economic picture, you probably have a chunk of
change squirreled away. Here's how to best use that cash.
1. Acquire museum-quality art
Although the art market hasn't completely recovered from its slump, an
oil on canvas by a big 20th-century name can still run tens of thousands
of dollars and up -- often way up.
But it's possible to find a limited-edition print by one of those same artists
for $10,000 or less today.
One example: "Windy Day," a 1924 oil-on-canvas by David Davidovich
Burliuk, which sold recently at Sotheby's for $7,500.
Visit auction-house websites for Sotheby's and christies to check out
upcoming sales.
By Carolyn Bigda, Amanda Gengler, Ismat Sarah Mangla, Peter
Valdes-Dapena and Penelope
2. Play a hunch
Maybe you have your investment bases covered and are itching to bet on
a promising market niche. That's fine -- but to limit risk, keep your
gamble to no more than 5% of your total holdings, or $10,000 for each
$200,000 in your portfolio.
Here's how you might play three hunches.
1. Think Asian economies will outpace everyone else?
ETF: iShares S&P Asia 50 Index (AIA)
Expense ratio: 0.52%
Top holdings: Samsung Electronics, China Mobile, Taiwan
Semiconductor
2. Think people will demand more tech gadgets, no matter what?
ETF: iShares S&P North American Technology-Software Index (IGV)
Expense ratio: 0.48%
Top holdings: Adobe Systems, Oracle, Microsoft
3. Think Wall Street will rebound?
ETF: iShares Dow Jones U.S. Financial Services (IYG) Expense ratio:
0.48%
Top holdings: J.P. Morgan Chase, Bank of America, Wells Fargo
3. Protect against deflation
With the economy still sluggish, the specter of deflation -- not inflation -haunts investors now. The best-performing stocks when prices are falling
tend to be utilities (because energy rates are fixed) and telecom (because
people tend to keep paying phone bills). These pay dividends up to three
times higher than the 2% S&P average.
4. Build a Treasury bond ladder
Treasuries' lower yields -- a 10-year pays 2.7% -- make them less
attractive now. But if you're set on them for the safety they provide, at
least "ladder" them, says Mario DeRose, a fixed-income strategist at
Edward Jones.
Laddering means buying bonds that mature at different times. Say you
put $2,000 each into bonds that mature in 2012, 2013, 2015, 2017, and
2020 (buy 'em at Treasurydirect.gov).
When your shortest bond matures, reinvest in a new 10-year bond. That
lets you maintain your portfolio's average maturity -- in this case, five to
six years -- and take advantage of future rate rises.
5. Pick the right retirement target
Want live the good years somewhere like Durham, N.C., our best place to
retire? But you're getting a late start and want something you can buy and
forget? A target-date fund, which adjusts a mix of stocks, bonds, and
cash to suit your gold-watch date, could be for you.
But these funds can have very different styles. For example, Vanguard's
2020 fund has 66% of assets in stocks; Oppenheimer Transition 2020 has
a riskier 76%. Check a fund's allocation at Morningstar.com before
making a choice. And if you aim to retire in 2020 but want more safety
than Vanguard's 2020 fund, you might buy its 2015 fund (59% stocks)
instead.
鈺頷、盈嫻—Starbucks – Something about its intellectual property
Starbucks------something about its Intellectual
property
http://en.wikipedia.org/wiki/Starbucks
Name
The company is named in part after Starbuck, Captain Ahab's first mate in the
novel Moby-Dick, as well as a turn-of-the-century mining camp (Starbo or Storbo) on
Mount Rainier. According to Howard Schultz's book Pour Your Heart Into It: How
Starbucks Built a Company One Cup at a Time, the name of the company was derived
from Moby-Dick, although not in as direct a fashion as many assume. Gordon
Bowker liked the name "Pequod" (the ship in the novel), but his then creative partner
Terry Heckler responded, "No one's going to drink a cup of Pee-quod!" Heckler
suggested "Starbo". Brainstorming with these two
ideas resulted in the company being named for the
Pequod's first mate, Starbuck.
Logo
In 2006, Valerie O'Neil, a Starbucks
spokeswoman, said that the logo is an image of a
"twin-tailed siren". The logo has been significantly
streamlined over the years. In the first version, which
was based on a 17th-century "Norse" woodcut, the Starbucks siren was topless and
had a fully visible double fish tail. The image also had a rough visual texture and has
been likened to a melusine. In the second version, which was used from 1987–92, her
breasts were covered by her flowing hair, but her navel was still visible, and the fish
tail was cropped slightly. In the current version, used since 1992, her navel and
breasts are not visible at all, and only vestiges remain of the fish tails. The original
"woodcut" logo has been moved to the Starbucks' Headquarters in Seattle.
At the beginning of September 2006 and then again
in early 2008, Starbucks temporarily reintroduced its
original brown logo on paper hot-drink cups. Starbucks
has stated that this was done to show the company's
heritage from the Pacific Northwest and to celebrate 35
years of business. The vintage logo sparked some
controversy due in part to the siren's bare breasts, but the
temporary switch garnered little attention from the media. Starbucks had drawn
similar criticism when they reintroduced the vintage logo in 2006. The logo was
altered when Starbucks entered the Saudi Arabian market in 2000 to remove the
mermaid, leaving only her crown, as reported in a Pulitzer Prize-winning column by
Colbert I. King in The Washington Post in 2002. The company announced three
months later that it would be using the international logo in Saudi Arabia.
品臻、瑀旋、虹君—Good Jobs
GOOD JOB!!!
Les Sables d'Olonne job to rub sun lotion on guests
by Staff Writers From: news.com.au April 13, 2010 9:50am
A RESORT in France is offering to pay two lucky candidates
$1250 a week to rub sun cream on tourists.
Les Sables d’Olonne, a beach and sailing haunt, is advertising for
one man and one woman to rub lotion on guests from mid-July to late
August, Timesonline reports.
The resort’s website says applicants must be interest in beach
holidays and sun protection, be fluent in English and French, and have an
outgoing personality.
In return the winners will be paid 5000 euros ($7333) for six weeks
work “on the most beautiful sandy beaches of the Atlantic”.
The two “creamers,” as they are called in France, will be selected
from an internet competition by a jury in June after pre-selection by
voting on the internet.
“We are recruiting two young people who will apply creme
solaire and above all advise tourists on protection,” Francois Boche,
director of the town’s tourist office, said.
The internet site for the creamer jobs is now open and candidates
can apply at lejobdelete.com.
The Les Sables d’Olonne is well known for its quirky marketing
campaigns. Last year it guaranteed sunny holidays by offering a full
refund for people who cancelled reservations because of a bad weather
forecast no less than two days before their scheduled arrival.
Life at Google
Google is not a conventional company, and they don’t intend to become
one. They share attributes with the world’s most successful
organizations – a focus on innovation and smart business practices comes
to mind – but even as google continue to grow, they’re committed to
retaining a small-company feel. At Google, they know that every
employee has something important to say, and that every employee is
integral to their success. Google provide individually-tailored
compensation packages that can be comprised of competitive salary,
bonus, and equity components, along with the opportunity to earn further
financial bonuses and rewards.
Google has offices around the globe, from Bangalore to Zurich, but
regardless of where they are, they nurture an invigorating, positive
environment by hiring talented, local people who share their commitment
to creating search perfection and want to have a great time doing it.
Googlers thrive in small, focused teams and high-energy environments,
believe in the ability of technology to change the world, and are as
passionate about their lives as they are about their work.
Island Caretaker “ Great Barrier Reef ”
Tourism Queensland is seeking applicants for the best job in the world!
The role of Island Caretaker is a six-month contract, based on luxurious
Hamilton Island in the Great Barrier Reef. It’s a live-in position with
flexible working hours and key responsibilities include exploring the
islands of the Great Barrier Reef to discover what the area has to offer.
You’ll be required to report back on your adventures to Tourism
Queensland headquarters in Brisbane (and the rest of the world) via
weekly blogs, photo diary, video updates and ongoing media interviews.
On offer is a unique opportunity to help promote the wondrous Islands of
the Great Barrier Reef.
Other duties may include (but are not limited to)

Feed the fish - There are over 1,500 species of fish living in the
Great Barrier Reef. Don’t worry – you won’t need to feed them all.

Clean the pool - The pool has an automatic filter, but if you happen
to see a stray leaf floating on the surface it’s a great excuse to dive
in and enjoy a few laps.

Collect the mail – During your explorations, why not join the aerial
postal service for a day? It’s a great opportunity to get a bird’s eye
view of the reef and islands.
Sleeping bag tester job pays £600 a week
April 13, 2010 2:02 PM
A company is looking to employ someone who is capable of sleeping
on the job -- for £600 a week.
Halfords are planning to recruit a 'sleeping bag tester' to snooze in a
variety of products and report back about how good they are.
A job advert placed in a West Midlands newspaper states that would-be
testers much be willing to sleep under canvas and normally be a good
sleeper.
The successful applicant will get £10 per hour with a minimum of £600
for a 5-day sleep-in and bosses say it would suit someone interested in the
factors that contribute to a good nights sleep.
We are tempted to apply, if only so we get the chance to phone the boss
at 9.15 and tell him we overslept.. for him to say well done.
又麟、芝帆、振宇—The Find: 85C in Irvine
The Find：85C in Irvine
It's always a wild scene at
85C, a coffee shop, bakery
and patisserie in Irvine. From
morning through evening,
hundreds of customers of
every age and walk of life
pour through its doors heaping
their trays high with a
fantastical array of baked
goods and the sea salt lattes
that helped to popularize this Taiwanese cafe.
Every few minutes a worker pops through the bakery's gleaming
stainless steel doors into the bustling sales area carrying a tray of
warm goodies fresh from the oven while majestically announcing
its name. "Fresh milk pudding buns!" "Fresh marble taro bread!"
A throng of plastic tong-wielding hopefuls waits to snap up a
favorite item. A few minutes later another tray is announced and
added to the lineup. So it goes throughout the day and, despite the
crowds, the line moves swiftly thanks to an efficient team
that bags customers' selections then directs them to the coffee
pick-up station.
"It's a phenomenon," said customer Veronica Peinado. The likes
of mochi-filled coffee bread and squid-ink garlic cheese buns
may be a little over the top for most American palates. But among
the bakery's 75 sweet and savory offerings in display cases and
lined up on trays buffet-style, the shop's diverse customers have
found plenty to fall in love with. Manager Stephanie Peng,
who grew up in Orange County, says a few of the original recipes
of this Taiwanese chain, known as the Starbucks of Taiwan,
were tweaked to suit American tastes.
And some take a little experimenting. To get the full effect of
85C's salted latte, newcomers discover it's important to sip
directly from the cup, not through a straw. The salt isn't present
throughout the subtly sweet coffee; it's in the milky foam.
Unique as it is, 85C isn't gimmicky. (Its name is a reference to
the ideal temperature — in degrees Celsius — at which to
serve coffee). For the lattes and other espresso-based drinks, the
shop uses premium Antigua Arabica, the Guatemalan beans
reserved for high-end coffee vendors.
Credit 85C's success on changing American tastes — and
impeccable timing. After years of customers learning to eat sushi,
Thai and other Asian cuisines in which a salt-sweet balance is
fundamental, the salt-laced desserts so favored among high-end
pastry chefs are sweeping into the mainstream.
Despite the allure of 85C's gorgeous iced cakes and pastries,
most eat-in customers get the sweets made from yeasted
doughs that are lighter (but often larger) than a standard butter or
shortening-laced Danish-style pastry or croissant.
At their best when slightly warm are the boroh cream Danish
(named in Cantonese for its pineapple shape — there is no
pineapple flavor), a grapefruit-size almond-covered ball of sweet
bread with a smooth almond-flavored milk and butter filling and
the brioche-like milk pudding whose creamy vanilla center i s a
close cousin to Beard Papa's cream puff filling. Ditto for the
exceptionally popular 85C rose cheese, a fragrant, meltingly
delicious cranberry-studded mauve and white dome of sweet
bread of nearly soccer ball proportions holding a lightly whipped
cheese-cream—easily enough for three or four to share.
The savories are equally wonderful. The wheat germ mushroom,
a long skinny pizza-like creation, comes topped with a
savory blend of fresh mushrooms, herbs and cheese, a
pizza bianca of sorts. Good cheddar flavors the cheese twists and
the bite-sized cheese bites that look and taste like savory mini
cheesecakes.
Hot dogs are baked into buns or sliced as toppings for flat
breads in combination with cheese. Although some items seem
familiar from other Taiwanese bakeries, 85C's chefs have nailed
the flavors — even the swirled lavender taro-filled bread
and mocha-centered coffee bread beguile non-Asian palates.
Less baroque breads make wonderful accompaniments for
steaming cups of tea. The raisin wheat bran bar o r the sugared
cream cheese brioche topped with dabs of farmer's cheese
resemble subtly sweet European tea breads.
So far, it may be that globally influenced sweets have been the
purview of high-end pastry chefs or Asian bakeries, but
judging from the crowds at 85C it's clear they're soon set to go
mainstream.
宇樵、廷偉、昱安—Business
Business
A business (also known as company, enterprise, or firm) is a legally recognized
organization designed to provide goods, services, or both to consumers or tertiary
business in exchange for money. Businesses are predominant in capitalist economies,
in which most businesses are privately owned and typically formed to earn profit that
will increase the wealth of its owners. The owners and operators of private, for-profit
businesses have as one of their main objectives the receipt or generation of a
financial return in exchange for work and acceptance of risk. Businesses can also be
formed not-for-profit or be state-owned.
The etymology of "business" relates to the state of being busy either as an individual
or society as a whole, doing commercially viable and profitable work. The term
"business" has at least three usages, depending on the scope — the singular usage
(above) to mean a particular company or corporation, the generalized usage to refer to
a particular market sector, such as "the music business" and compound forms such as
agribusiness, or the broadest meaning to include all activity by the community of
suppliers of goods and services. However, the exact definition of business, like much
else in the philosophy of business, is a matter of debate and complexity of meanings.
Nouriel Roubini
Nouriel Roubini (born 29 March 1959) is an American professor of economics at
New York University's Stern School of Business and chairman of Roubini Global
Economics, an economic consultancy firm.
After receiving a BA in political economics at Bocconi University, Milan, Italy and a
doctorate in international economics at Harvard University, Cambridge,
Massachusetts, he began academic research and policy making by teaching at Yale
while also spending time at the International Monetary Fund (IMF), the Federal
Reserve, World Bank, and Bank of Israel. Much of his early studies focused on
emerging markets. During the administration of President Bill Clinton, he was a
senior economist for the Council of Economic Advisers, later moving to the United
States Treasury Department as a senior adviser to Timothy Geithner, who is now
Treasury Secretary.
In 2008, Fortune magazine wrote, "In 2005 Roubini said home prices were riding a
speculative wave that would soon sink the economy. Back then the professor was
called a Cassandra. Now he's a sage". The New York Times notes that he foresaw
"homeowners defaulting on mortgages, trillions of dollars of mortgage-backed
securities unraveling worldwide and the global financial system shuddering to a halt".
In September 2006, he warned a skeptical IMF that "the United States was likely to
face a once-in-a-lifetime housing bust, an oil shock, sharply declining consumer
confidence, and, ultimately, a deep recession". Nobel laureate Paul Krugman adds that
his once "seemingly outlandish" predictions have been matched "or even exceeded by
reality."
As Roubini's descriptions of the current economic crisis have proven to be accurate,
he is today a major figure in the U.S. and international debate about the economy, and
spends much of his time shuttling between meetings with central bank governors and
finance ministers in Europe and Asia. Although he is ranked only 512th in terms of
lifetime academic citations, he was #4 on Foreign Policy magazine's list of the "top
100 global thinkers." He has appeared before Congress, the Council on Foreign
Relations, and the World Economic Forum at Davos
Marc Faber
Faber was born in Zürich and schooled in Geneva, Switzerland, where he raced for
the Swiss National Ski Team. He studied Economics at the University of Zurich and,
at the age of 24, obtained a Ph.D. degree in Economics magna cum laude Faber is best
known for the Gloom Boom & Doom Report newsletter and its related web site
featuring "Dance of Death" paintings created by Kaspar Meglinger.
During the 1970s Faber worked for White Weld & Company Limited in New York
City, Zürich, and Hong Kong. He moved to Hong Kong in 1973. He was a managing
director at Drexel Burnham Lambert Ltd Hong Kong from the beginning of 1978 until
the firm's collapse in 1990. In 1990, he set up his own business, Marc Faber Limited.
Faber now resides in Chiangmai, Thailand, though he keeps a small office in Hong
Kong.
Faber has a reputation for being a contrarian investor and has been called "Doctor
Doom" for a number of years. He was the subject of a book written by Nury Vittachi
in 1998 entitled Doctor Doom - Riding the Millennial Storm - Marc Faber's Path to
Profit in the Financial Crisis Faber has become a frequent speaker in various forums
and makes numerous appearances on television around the world including various
CNBC and Bloomberg outlets, as well as on internet venues like Jim Puplava's
internet radio show.He has also been a participant of the Barron's Roundtable.
Marc Faber Ltd.
Faber's company, Marc Faber Limited, acts as an investment advisor concentrating on
value investments with tremendous upside often based on contrarian investment
philosophies. Faber also invests and acts as a fund manager to private wealthy clients.
Faber is a regular speaker on the investment circuit, often quoted in the financial press
for his non-conformist viewpoint and alternative investment philosophies. His
current — if eccentric — tag-line is: 'buy a $100 US bond and frame it to teach your
children about inflation by watching the US bond value diminish to almost nothing
over the next 20 years'.
Faber is famous for advising his clients to get out of the stock market one week before
the October 1987 crash. However Faber said that this prediction was "accidental"
Faber has gotten the trend right, but the timing wrong in some cases. The prime
example was his calling a NASDAQ top and advising investors go long commodities,
including gold, in 1999. He lost money shorting US stocks since 1999. He admits that
market timing is very difficult. Nevertheless his market advice since 2000 is quite
accurate. Faber predicted the rise of oil, precious metals, other commodities,
emerging markets and especially China in his book Tomorrow's Gold: Asia's Age of
Discovery. He also correctly predicted the slide of the U.S. dollar since 2002 and the
5/06 and 2/07 mini-corrections. He stated that there are few value investments
available, except for farmland and real estate in some emerging markets like Russia,
Paraguay, and Uruguay. He believed in early 2007 that a major market correction was
"imminent." (Fox News, 2-2007); however, by 5/2007 he was saying that U.S.
equities were moderately overvalued — less so than those of emerging markets.
In a June 2008 interview with Bloomberg, he goes over his bearish views on a wide
spectrum of investments: stocks, real estate and commodities. He is extremely critical
of the Fed's inflationary actions. However, his views for the short-run were almost
entirely deflationary except for holding precious metals; Faber still views
hyperinflation as a certainty within the next 10 years. He also correctly expressed
temporary bullishness for the U.S. dollar in the middle of 2008 before it dramatically
recovered and positive expectations for holding the Japanese yen. In December 2008,
Faber said, "I think a recovery will not come in the next couple of years, maybe in
five, ten years' time" On March 9 2009, Faber correctly predicted a U.S. stock
market bottom but incorrectly stated that the rally would last only six months.
Vocabuary
Tertiary 第三的
Predominant 卓越的,有力的
Etymology 語言學
Generalized 推斷,概括
Sector 部分,區域
Scope 領域,眼界
Doctorate 授勳給…
Speculative 投機的,思索的
Mortgage 抵押,債權
Unravel 散開,解開
Shudder 發抖,震動,顫抖
Halt 蹣跚,躊躇
Outlandish 奇異的,古怪的
Citation 引證,引用
Cum laude reputation 以高級優等
Forum(古羅馬)公會所,討論會,法庭
Successful businessman
巴菲特(Warren Edward Buffett)
eccentric 古怪的,反常的
bond 契約,證券,保證人
imminent 迫切的,緊急的
spectrum 範圍,系列
deflationary 通貨緊縮
hyperinflation 惡性通貨膨脹
bullishness 頑固
equities 股票
diminish[使]減少,縮小
contrarian 逆勢
投資股票致富
比爾蓋茲(Bill Gates)
微軟創辦人
索羅斯(George Soros)
投資期貨
卡洛斯·斯利姆·赫魯
2010 新世界首富
賈伯斯
apple 總裁