1.原文连结:
http://finance.yahoo.com/news/betting-boring-brings-stock-outperformance-052003352.html
2.内容:
Humbler不负责任翻译
NEW YORK (Reuters) - Largely ignored during much of last year's 30 percent
rally in the Standard & Poor's 500 Index, the stocks leading the U.S. market
this year rank among its usually sleepiest components.
纽约(路透社)大部分的人都忽视去年S&P500急涨了30%,引导了今年美国股市的攀升,尽
管公布数字十分平淡。
The best sector in 2014 is utilities, including Consolidated Edison, about as
staid a group as one can get. They're up 14.5 percent on a total return basis
this year, compared with 6.4 percent for the S&P 500 as a whole.
2014发展最好的产业是公用事业,像是艾迪森水泥,一个任何人可买到的稳定个股,今年
为止的总报酬率是14.5%,相较去年一整年S&P的报酬率是6.4%
(这段total return basis我不知道怎么翻译比较好,求高手解释)
What's happening is the opposite of what ordinarily happens in a moving
market. It relates to an investing concept known as "beta," which refers to
the amount of risk a particular stock adds to a portfolio. Stocks that tend
to rise or fall with the market – but in a more pronounced way – are called
"high beta." They generally outperform in up markets and fall the most in
down markets.
与以往上涨股市不同,发生了不寻常的情况。这关系到投资观念称作”beta值”,它代表
了个股在股市中的危险性。在beta值高的时候,往往也代表着市场的上扬或下降。他们通
常出现在股市在最高点或是最低点。
Best Buy and Priceline, two discretionary stocks that were among the S&P's
strongest in 2013, are good examples because their sales and profits rise
along with the economy, and they led the way last year.
Best Buy 和 Priceline这两档传产类股是去年S&P中最强势的两档,它们是很好的例子,
因为他们的业绩和利润随着经济成长,也带领他们在去年股市的上扬。
This year, those stocks are lagging the more boring "low beta" stocks –
those that tend to move less dramatically than the market. It's a signal
that investors are worried about earnings growth and U.S. economic demand,
and don't want to bet as heavily on the types of stocks that generally
qualify as high beta – often cyclical names in the technology, discretionary
and energy sectors.
今年,这两档股票远落后无趣的”低beta值”的股票,也就是幅度不如股票市场的起伏,
这代表一个现象,投资者担心营利成长和美国的经济需求,不希望把钱放在高beta值的股
票,通常就是景气循环股,像是科技类、传产、能源类股
To be sure, this may change if growth picks up, but after U.S. gross domestic
product contracted in the first quarter for the first time in three years,
investors are cautious.
当然,当经济成长或许这状况会改变,但是美国第一季的国内生产总额下滑,这是三年来
的第一次,引起投资人注意。
"You see this all over the place