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金融的5个小知识

时间：2020-10-23 18:04:52 金融我要投稿

有关金融的5个必备小知识

　　Investment Bank投资银行

有关金融的5个必备小知识

　　We all know the stereotype of the investment banker, but what actually happens behind the doors of these fabled institutions? Investment banks help companies raise money through issuing securities. In 2012, Facebook (FB) employed Morgan Stanley (MS) to handle its initial public offering (IPO). In this capacity, Morgan Stanley researched the company to determine a fair price for the shares and handled other logistical matters that would transform Facebook from a private company to a public company trading on the NASDAQ.

　　我们都只是投资银行的就规矩，但是实际上在银行那道门的后面究竟是什么样的传说中的制度呢？投资银行通过发行证券来帮公司挣钱。在2012年，脸面（FB）雇佣摩根利坦利公司去处理首次公开募股（IPO）。在这个里面，摩根利坦利公司调查这个公司决定这个股票一个公平的价格，处理其他逻辑上的事物把脸面从一家股权不公开的公司转变成一家在纳斯达克上交易的上市公司。

　　Investment banks are also often employed to assist with mergers and acquisitions. Competition between investment banks to be a lead underwriter on an IPO or merger is fierce so you can imagine why the 100 hour work weeks are often necessary. And let’s be honest, after logging major hours, wouldn’t you also feel entitled to a nice annual bonus?

　　投资银行也经常被雇佣去帮助合并和收购公司。投资银行之间的竞争成了在首次公开募股上的领头担保人或公司合并都是很激烈的，因此你能够想象为什么每周工作100个小时都是很有必要的。我们诚实的来看待，在投入大量时间进去后，难道你不想有资格得到相当不错的年终报酬？

　　Initial Public Offering (IPO)首次公开募股

　　You are probably familiar with what an IPO is—when a company sells its shares on a stock exchange for the first time—but what you may not know is why a company would do this. One way to think about it is this: it costs money to make money. As a private company has success, it will eventually need more funding to expand by buying new equipment, developing new products, and hiring more employees. After a certain point, it becomes difficult to secure private investors, so a company will decide to trade some ownership of the company to shareholders in exchange for cash.

　　你可能对什么是首次公开募股熟悉—当一家公司在股票交易上第一次兜售股份—但是你可能不知道的是为什么公司要这么做。思考这个问题的一种答案是：它花钱去赚钱。作为一家股权不公开的公司有了成功，它最终会需要更多的资金去购买新设备来扩大公司规模，发展新产品和雇佣更多的员工。在这几点上，它变得很困难去确保私人投资者，因此公司要决定去卖股份持有者的股份去换取更多的资金。

　　By “going public,” a company can tap into a wider funding base, enjoy some added prestige and exposure by being public, and have access to capital for expansions. These benefits are not without costs. Going public is an expensive endeavor. Owners give up control of the company they built and are accountable to shareholders in how they run the business and share information. With the problems of the Facebook (FB) IPO fresh in our mind, you can understand why despite rumors, Twitter may be hesitant to go public. pay attention to Twitter’s road to going public to get a greater sense of the mechanics of an IPO.

　　“上市”，一家公司能够得到大面积的资金基地，享受额外的声誉和曝光度，因扩张进入获得资本的领地。这些利益并没有花费。上市是很昂贵的努力。所有人放弃对公司的控制权，在如何运营业务和咨询共享上对股份持有者负责。脸面（FB）首次公开募股上的问题一直萦绕在我的心中，你能够理解为什么尽管有那么多的谣言，Twitter可能依旧会犹豫去上市。多加关注Twitter公司的上市之路，会对首次公开募股有更加技巧性的认识。

　　Venture Capital风险资本

　　Before a company can go public, it has to be formed. While several companies are able to start and succeed with a few dollars and charisma, most need a little outside help. Unfortunately, because new companies by definition lack operating history, banks are not often willing to lend to them and if they do, the terms may not be favorable. Enter venture capital, or funds provided by individuals or firms to help companies get up and running. For their investment, venture capitalists not only get a share of the returns, they are also able to direct the company’s path. This can be an asset when the firm’s founders are big on ideas but short on strategy.

　　在一家公司上市之前，风险资本就形成了。然而一些公司能够在一点美元和神授的力量下开创并成功，大多需要一点外在的帮助。不幸的是，因为新公司定义上缺乏开创历史，银行经常不回愿意去帮助他们，如果帮助了，条款也不会支持。风险资本或者资金支持由个人或者公司去公主那些公司开创和运行。对于他们的投资而言，风险资本家不仅有一定的回复分享，他们也能直接决定公司的`路线。这是当公司的成立这有大的想法但是缺乏策略的资产。

　　Commodity (market)商品（市场）

　　In economic terms, commodities are goods that lack differentiation across a market. For example, aside from the finest tuned palate, coffee is generally indistinguishable whether it is grown in Kenya or Brazil. Other examples of soft commodities include: cocoa, sugar, soy, and wheat, whereas hard commodities are: iron, silver, gold, and oil. Commodity trades are derivative trades. In the simplest sense, think of the farmer who wants to lock in the sale price of his wheat and the mill that wants to lock in the purchase price of wheat. The two parties agree on a price and delivery date. The commodities market becomes more difficult when you add investors and speculators to the mix. These parties may buy and sell these goods to take advantage of price swings despite having no interest in actually possessing them. At face value, one may think that speculation unfairly influences prices—and there are times when that has been true—but it can also be said that by bringing more people to the market, true prices are maintained.

　　在经济条款中，商品是货物，在市场上供应不同的需求。例如，除去最好的鉴赏力，不管是生长在肯尼亚还是在巴西的咖啡，通常是很难分辨的。其他的例子，软性商品包括：可可粉，糖，大豆和小麦。硬性商品包括：铁器，银，金和油。商品贸易是衍生贸易。最简单的理解就是，农民想把他的小麦固定在一个价格，想把磨坊固定在购买小麦的价格上。两边的伙伴同意价格和发货日期。当你增加投资人和投机倒把的商人混入时，商品市场就变得困难了。这些伙伴可能买和卖这些货物，利用价格优势的摇摆，尽管实际拥有它们没有利益—总有时候变得真实—但是这也能把更多的人带进市场，保持最真实的价格。

　　Hedge Fund对冲基金

　　Like mutual funds and ETFs, hedge funds are collective investment vehicles in which groups of people pool their resources together to invest in a variety of financial instruments. However, unlike mutual funds and ETFs, hedge funds are limited to accredited investors, or investors who have sufficient assets to weather the risks of a more aggressive investing strategy. Hedge funds are set up as partnerships which implies that investors have a much greater obligation to the fund. Invested money cannot easily be withdrawn from a fund as there are often lock up periods and/or significant penalties for early withdrawal. Because of this structure and the stipulation that investors be accredited, hedge funds are not heavily regulated by the financial industry. This allows hedge funds to adopt investing strategies, such as the use of leverage (think the use of derivatives) to try to achieve higher than average returns.

　　像共同基金和交易所交易基金，对冲基金是集体投资工具，在其中的人们汇集他们的资源去投资各种金融手段。然而，不同于共同基金和交易所买卖基金，对冲基金是有限的经认可的投资者，或那些有足够的资产能对更积极的投资策略有风险评估的人。对冲基金是建立合作伙伴关系，意味着投资者有更大的责任基金。投入的资金无法轻易的从一个基金撤回，通常有固定的早期和/或对早期撤回有重大的惩罚。由于这种结构和规定，投资者被认可，金融行业不监管对冲基金。这允许对冲基金采取投资策略，如杠杆的使用（认为衍生品的使用）来实现高于平均水平的回报。

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