多元化投資組合
Gilbert is talking to his financial consultant about investing in exchange traded funds.
吉爾伯特跟理財專員談到投資指數股票型基金。
invest (sth.) in投資(某物)到～
Gilbert: I’d like to know more about exchange traded funds. Can they be traded on an exchange the same way as a regular stock?
吉爾伯特：我想多了解指數股票型基金。它們也可以像一般的股票一樣在交易所買賣嗎？
regular(adj.)一般的、普通的
Consultant: Yes, they can, Sir. An ETF is a basket of securities that comprises stocks, bonds, commodities or other assets. Also, it operates pretty much like a mutual fund.
專員：是可以的，先生。指數股票型基金是一籃子包含股票、債券、金融商品或其他資產的證券。此外，指數股票型基金的運作方式蠻像共同基金的。
securities(n.)證券comprise(v.)包含、包括include(v.)包含、包括
Gilbert: How so?
吉爾伯特：怎麼說？
Consultant: Both types of funds consist of a pool of many different assets and represent a common way to diversify portfolios.
專員：這兩種基金都包含許多不同的資產組合，而且都是常見的多元化經營投資組合方式。
consist of由～構成或組成=be made up of=be composed ofdiversify(v.)使～多元化、多元化經營diverse(adj.)多元的、形形色色的diversity(n.)多樣(元)性ethnic diversity民族多元性biological diversity生物多樣性
Gilbert: Then what is the difference between them?
吉爾伯特：那兩者之間的差別是什麼？
Consultant: The price of ETF shares fluctuates throughout the trading day as they are traded on the market, while mutual funds can only be traded at the end of each trading day based on a calculated price known as the net asset value.
專員：隨著指數股票型基金在股市上交易，它的股價會在交易期間起起落落，而共同基金只能在每日收盤時依據結算而得的資產淨值進行交易。
fluctuate(v.)波動、起伏不定float(v.)浮動go up and down起起落落calculate(v.)計算calculator(n.)計算機net asset value資產淨值
Gilbert: I see. Which one is better then? I’m quite risk-averse.
吉爾伯特：了解。那哪種基金更好呢？我傾向規避風險。
averse(adj.)嫌惡的、反對的risk-averse(adj.)不願承擔風險的risk-taking(adj.)承擔風險的risk-taker(n.)冒險者、承擔風險者
Consultant: If you’re looking for low-risk investments, ETFs may be suitable for you as they are usually more cost-effective and more liquid compared to mutual funds.
專員：若您想找風險較低的投資，那指數股票型基金會很適合您，因為相較於共同基金，指數股票型基金通常都比較符合成本效益，且流動性較佳。
be suitable for適合～liquid(adj.)流動的、易變現的liquid assets流動資產=current assetsfixed assets固定資產compared to相較於