Investing in the stock market can seem like a crazy prospect for a generation of young adults that have two cents in their pocket, and a $100,000 student loan for a degree that they don't use.
But when it's done right, you can take that two cents, turn it into three cents, and well, that's more than you had yesterday.
但只要方法得當，你可以把那兩分錢變成三分錢，嗯，這可比昨天擁有的更多。
00:17
And isn't that the goal?
這不就是我們的目標嗎？
00:19
In all seriousness, the stock market is often perceived as a big scary abyss of money that eats unsuspecting investors alive and is the path to a magnitude of wealth for those that understand it.
While those perceptions can be true, understanding the stock market and succeeding and making money with it is far easier than you might expect.
儘管這些看法可能是真的，但要了解股市並從中成功獲利，其實比你想像的要容易得多。
00:39
In order to understand the stock market, first, we need to understand just what a stock is.
為了了解股市，首先我們需要了解股票究竟是什麼。
00:47
A stock, otherwise known as a share, is a financial token or instrument that signifies ownership of a company in some proportion.
股票，又稱股份，是一種代表持有某家公司一定比例所有權的金融憑證或工具。
00:55
Basically, if Amazon had 1,000 shares and you bought one share, you would own one 1,000th of Amazon.
舉例來說，如果亞馬遜有 1,000 張股票，而你買了一張，你就擁有了亞馬遜一千分之一的股權。
01:02
In reality, Amazon and companies alike have millions of shares.
實際上，亞馬遜這類公司擁有數百萬張股票。
01:07
But that sums up the point.
但這就概括了重點。
01:08
When you own a stock, that means that you own a portion of that company, and as the value of that company increases so does your stock price.
當你持有一張股票，就代表你擁有該公司的一部分，隨著公司價值提升，你的股票價格也會跟著上漲。
01:16
There are also common and preferred stocks, which refer to the voting rights of a shareholder.
此外還有普通股與特別股，這兩者指的是股東的投票權。
01:22
Common shares have voting rights, and preferred shares don't.
普通股有投票權，特別股則沒有。
01:26
When you have voting rights, you can vote on things like board elections, mergers, and other financial decisions.
當你擁有投票權，就可以針對董事會選舉、合併案及其他財務決策進行投票。
01:33
Preferred shares, however, are called that because they get preference when a company pays a dividend, which is basically a split of the profit of a company with the shareholder, and they also get preference in other financial situations.
So then, if a company wants to sell their shares, they need a place to do it.
因此，如果一家公司想要出售其股票，就需要一個交易的場所。
02:28
Enter the stock market.
這時股票市場就登場了。
02:31
Companies list shares by selling them through an initial public offering, or IPO, on an exchange.
公司透過在交易所進行首次公開募股（IPO）來出售股票，從而實現上市。
02:38
This essentially changes the status of a company from a privately held business to a publicly traded one.
這本質上將公司的地位從私人持有企業轉變為公開上市交易的企業。
02:44
IPOs can let company founders cash out their stake or just let the company raise money.
IPO 可以讓公司創辦人變現其持股，或者僅僅是為了讓公司籌集資金。
02:50
Once a company's stocks are listed on an exchange, the public can trade them.
一旦公司的股票在交易所上市，公眾就可以進行交易。
02:54
Usually prices will fluctuate based off of public opinion, but the more concrete trends and fluctuations are usually dependent upon a company's earnings and operations.
通常價格會根據公眾輿論波動，但更具體的趨勢和波動通常取決於公司的收益和營運狀況。
03:04
These can be measured by PE ratios, or price to earnings ratios, as well as a variety of other metrics.
這些可以透過市盈率（PE ratios）或價格收益比，以及各種其他指標來衡量。
03:10
This is usually where casual investors get scared and their eyes start to glaze over.
通常到了這個階段，休閒投資者會開始感到害怕，眼神也變得茫然。
03:16
But fear not.
但別擔心。
03:17
It's not as complicated as it sounds.
這並沒有聽起來那麼複雜。
03:21
Next, we need to understand how and why a share price fluctuates.
接下來，我們需要了解股價波動的方式和原因。
03:25
The stock market is composed of millions of investors and individual traders who all feel different ways about a company.
股票市場由數百萬名投資者和散戶交易者組成，他們對同一家公司的看法各不相同。
03:32
They all make independent choices, and the net of those choices result in the positive or negative movement of a stock.
他們各自做出獨立的選擇，而這些選擇的總體結果決定了股票的正向或負向波動。
03:40
If more people buy, then the price has to climb.
如果買入的人更多，股價就會上漲。
03:43
If everyone wants out of a company, then the price falls due to lack in purchasing demand.
如果所有人都想脫手某家公司的股票，由於購買需求不足，股價就會下跌。
03:48
An example might be this.
舉個例子。
03:49
Say you post something on Craigslist for $100.
假設你在 Craigslist 上刊登一則售價 100 美元的廣告。
03:53
After posting, you get 100 emails saying they'll come to purchase your item all cash right now.
刊登後，你收到 100 封電子郵件，表示他們願意立即以全現金購買你的商品。
03:58
Most people at this point might start thinking they price their item too low, and thus raise the price until, in theory, it reaches the most that the one single last buyer will pay for it.
Conversely, if you receive no offers, you'll likely keep dropping the price until someone bites.
相反地，如果沒有人出價，你可能會不斷降價，直到有人願意買進。
04:17
This is similar to how the stock market moves, except that the price rise and drop isn't done consciously, rather by millions of transactions every second, supply and demand, which brings us to that topic.
For every stock purchase or sale, there has to be a buyer and a seller.
每一次股票的買進或賣出，都必須有一位買方和一位賣方。
04:36
If there are more buyers, then the price will go up.
如果買方較多，價格就會上漲。
04:39
If there are more sellers, the price will go down.
如果賣方較多，價格就會下跌。
04:42
Traders often might talk about the bid-ask spread, which basically means the difference between the bid, or what someone is willing to pay to buy a share, and the ask, or what someone is willing to sell a share for.
Supply and demand is fairly simple to understand at the end of the day.
歸根結底，供需原理其實相當容易理解。
05:00
If more people want something, that thing, in this case a stock, will be more expensive.
如果越多人想要某樣東西，那樣東西（在這裡指股票）就會越貴。
05:07
At the start of stock markets, matching buyers to sellers was done manually on a trading floor.
在股市剛起步時，撮合買賣雙方是在交易大廳由人工完成的。
05:13
Now, it's mostly done automatically by trading systems.
現在，這絕大多數都由交易系統自動完成。
05:17
This allows the market to move much faster, and creates the breakneck pace that any casual onlooker notices when watching the stock market.
這讓市場運行得更快，並創造出任何旁觀者在看盤時都會注意到的驚人速度。
05:25
Now, you might be wondering, well, I don't have time to understand this, and why should I even invest anyway when I can earn 2-3% just keeping it in a bank on a high side?
Now, that's a long investment timeline, but I think most people would agree that the purchase would be worth it.
這確實是很長的投資週期，但我認為大多數人都會同意，當初那筆投資非常值得。
05:57
Other companies often provide return rates like 30-70% each year, which is still going to build you a lot of wealth compared to that 2-3% each year kept in a bank account.
In essence, as long as you're able to make more than 3% in the stock market, you're doing better with your money than just keeping it in the bank.
本質上，只要你能在股市中獲得超過 3% 的報酬，你的錢就比單純放在銀行更有價值。
06:18
Now that we understand the stock market to be a real-time marketplace where you can purchase a part of companies you think will succeed, the next step is to figure out how.
You can start one with common providers like each trade or other major banking institutions, but you can also use free trading services like Robinhood.
Once you have an account in any trading service, you have to decide what companies or multiple companies stock to purchase, which is arguably the hard part.
當你在任何交易服務擁有帳戶後，你必須決定要購買哪家公司或哪些公司的股票，這可以說是最困難的部分。
07:08
You also have to have a certain amount of money.
你還需要一筆特定的資金。
07:11
This range from a few cents to many thousands of dollars.
金額範圍從幾美分到數千美元不等。
07:15
The key thing about stocks is that you can't purchase part of one.
關於股票的關鍵點在於你不能只購買其中一部分。
07:19
It's either all or nothing.
要買就是全額買進，否則就沒買。
07:20
If you want to invest in Amazon, you'll need at least $1,800, at least at the time of recording, to get started.
But you can buy much cheaper, well-rated companies for a few bucks.
但你也可以花幾塊錢買到便宜得多、評級良好的公司。
07:31
Before you make a purchase, you want to do extensive research to make sure you understand what a company does to make money, whether they're in good financial standings, and also see what experts think about a company and whether you should buy it.
At the end of the day, you do have to assume some risk, so it's important you only invest money you're capable of surviving without, at least for a little while, or until a certain stock comes back up if it does fall on harsh times.
In this video, we've covered the basics of the stock market, how it functions, and ways to get started with it.
在這部影片中，我們涵蓋了股票市場的基礎知識、運作方式以及入門的方法。
08:04
We didn't cover much of the technical analysis that goes into evaluating a company, much of the terminology around stock trading, or even ways to trade without actually having the money you're purchasing stocks with, called margin.
For the beginning investor, the best way to learn the stock market and to get involved is to take a few bucks you're okay with losing and getting your hands dirty and invest wisely.
