外报阅读67Word下载.docx

外报阅读67Word下载.docx

《外报阅读67Word下载.docx》由会员分享，可在线阅读，更多相关《外报阅读67Word下载.docx（15页珍藏版）》请在冰豆网上搜索。

December14,2010

Althoughthedollarhasexperiencedwhatsomeexpertscalla"

confounding"

rallylately,ifyou'

restillworriedaboutthegreenbacktakingadownwarddive,you'

renotalone.Attheveryleast,financialanalystsexpecttheU.S.economytogrowslowlyfortheforeseeablefuture.Mixinthelong-termimpactoflarge-scalestimulusspendingandmountingdeficits,andyourdollar-centricinvestmentsmightbelesssecurethanyouthink.

"

Weareinanenvironmentwherethereisnosuchthinganymoreasa'

safeasset,'

saysAxelMerk,founderofMerkInvestmentsandauthorofSustainableWealth."

Investorsneedtothinkbeyondthetraditionalassetallocationmodelwhereyouhaveasafehaven,anddiversifytheirassetsinaworldthat'

severlessstable."

Thegoodnewsisthatthereareplentyofwaystohedgeagainstalacklusterdomesticeconomyandadecliningdollar,whetherit'

ssimplyincreasingyourexposuretoU.S.companieswithlargeglobalfootprintsorinvestinginthelocalcurrenciesofgrowingeconomies.U.S.Newstalkedwithsomeexpertsabouthowtodulltheeffectsofaweakdollaronyourportfolio.

Beefupyourexposuretobluechips.IfyouhavebignameslikeMcDonald'

s,Pepsi,andGeneralMotorsinyourportfolio,youalreadyhavesomeindirectexposuretonon-dollardenominatedassets.MostcompaniesintheS&

P500havesignificantforeignoperations,whichmeanstheyhavestakesinforeigncurrencies."

Sincethedollarhasweakenedandmanyexpectittocontinuetoweaken,companieswithincomeoverseaswillseeabenefitwhentheytranslatethatincomebackintoU.S.dollars,"

MorningstaranalystMikeRawsonsaidinanE-mail.

Ifyoudon'

talreadyownsomelarge-capU.S.stocks,RawsonrecommendsiSharesS&

P500Index（symbolIVV）,anexchange-tradedfundthatoffersbroad-basedexposuretobigfirmswithglobalreach.AsidefrombeingoneofthecheapestETFsavailablewitha0.09percentexpenseratio,about45percentoftheunderlyingcompanies'

asset-weightedrevenuescomefromoutsidetheUnitedStates,givinginvestorssubstantialsecondaryexposuretointernationalcurrencies.

Don'

tignoreemergingmarkets.Forthoselookingtogrowtheirinvestmentswithafive-yearorlongertimehorizon,"

itwouldbedangeroustoignoreemergingmarkets,"

saysOliverPursche,presidentofNewYork-basedGaryGoldbergFinancialServices."

That'

swherethegrowthishappening—AsiaandLatinAmerica.It'

snotEuropeortheUnitedStates."

PurscheandRawsonrecommendWisdomTreeEmergingMarketsSmallCapDividend（DGS）,anETFthatgivesinvestorsconcentratedaccesstoagroupofrapidlygrowingeconomiesincludingChinaandBrazil."

Weliketolookatsmall-capemergingmarketcompaniesbecausewethinkthey'

reclosertothoseemergingmarketconsumers,sothey'

reprobablygoingtoexperiencegrowthmoresimilartothegrowthofthoseunderlyingeconomies,"

Rawsonsays.Andbecausetherevenueandcostsofthoseeconomiesstaylocal,investorscanexpectcompaniesintheportfoliotohavefarlessexposuretofluctuationsintheU.S.dollar.

BecauseinternationalmarketscanbemorecomplicatedandlesstransparentthanU.S.markets,Rawsonrecommendsstickingtoactivelymanagedfundsorfundamentally-weightedETFslikeWisdomTreeEmergingMarketsSmallCapDividend.Thefundweightscompaniesbasedonthedividendtheypaytoinvestorsratherthanthetraditionalmethodofweightingbasedonmarketcap."

Whatyou'

redoingistryingtoshifttowardqualitycompaniesthathavethewherewithaltobeabletopayadividend.It'

salittlebitofatilttohigher-qualityfirmsanditgetsyoualittlebitclosertosomelevelofsafetyandcomfort."

Cashinonforeigncurrencies.Holdingaforeigncurrencyinanoverseassavingsaccountisn'

tyourbestoptionforbettingoncurrencies,Rawsonsays,becausethosetypesofinvestmentswon'

tearnyouacompetitivereturncomparedwithinflation.Instead,herecommendsWisdomTreeEmergingMarketsLocalDebt（ELD）,anETFthatholdslocalcurrencybondsincountriessuchasIndonesia,Brazil,andMexico."

Whatwelikeaboutthisfundisthatitisdiversified,[and]accessesemergingmarketscurrencies,"

Rawsonsays."

Andsinceitinvestsinmedium-termbonds,[it]earnsmoreinterestthanadepositaccount."

Thebottomline:

IfgrowthinemergingmarketscontinuesoutpacingthatoftheUnitedStates,emergingmarketscurrenciesshouldriseagainstthedollar,whichwillbepositiveforthefund.

Commoditiesarekey.JustbecausetheU.S.economyisinadazedoesn'

tmeanothercountrieshavestoppedtogape."

Eventhoughwe'

vehadthistremendousrecessionintheU.S.andaslowrecovery,foreigneconomies—particularlydevelopingmarkets—aregoingtogrowfaster,"

ItaffectsU.S.investorsbecauseasthoseeconomiesgrow,theirdemandforinternationallytradedcommoditiessuchaswheat,oil,andpreciousmetals,isgoingtogrowalso."

Withitsexposuretoglobally-pricedcommoditiesandothernon-U.S.-dollarassets,VanguardEmergingMarketsStock（VWO）canhelpinvestorscapitalizeonthecommoditiesmarketsandcommodity-producingforeigncountries.Thefundhaslargestakesinnaturalresourcescompaniesintheoil,naturalgas,andsteelindustries—allofwhichareexpectedtoseemajorgrowthincomingyears."

WhenyoulookatthecurrenciesofAustralia,Canada,andBrazil,theyhaveonethingincommon—they'

reallcommodityproducingplaces,"

saysMikeSavage,founderofSavageFinancialGroup."

Ifcommoditypricesgoup,thosecommoditycurrenciesgoup."

Passage2:

HowtoUsetheHolidaystoBoostYourCareer

ByKarenBurns

December15,2010

Itmaysoundcalculatingtoleveragetheholidayseasontoyourprofessionaladvantage,butit’ssmart,too.

Theholidaysareprimonetworkingtime.Mostpeopleareinamorejovial,givingmood.Manyworkplacesslowdownalittlethistimeofyear,soyoumayhavemorementalspacetothinkaboutwaystopolishyourresumeandevensetupinformationalinterviews.Andtheendoftheyearisanaturaltimetoreevaluate,refocus,andthinkstrategicallyaboutyourfuture.

Ifyoudecidetotakeadvantageofthisgoldenopportunity,whethertoadvanceinthejobyoualreadyhaveorfindanewone,hereareafewguidelines:

Gotoyourannualworkplaceparty.Whereelsedoworkerbeesandupper-upsminglesofreely?

Thepowers-that-bewillbeattheirmostkindlyandtheirmostaccessible,sodon’tmissthisopportunitytogetyournameandfaceoutthere.Introduceyourself;

makesmalltalk.Anddon’tforgettosaythankyou.Yourcompanydroppedawadofcashonthisevent,soconveyyourgratitude.

Haveamasterplan.Thinkstrategicallyaboutwhoyou’dliketomeetorgettoknowbetterthisseason.Areyouinterestedintransferringtothesalesdepartment?

Gotothatworkplacepartyreadytointroduceyourselftothesalesstaffand,ideally,thesalesmanager.Doyoudreamofswitchingcareersentirely?

Mentionitatyourneighborhoodget-together,yourchurchsocial,oryourkid’sschoolplay.Youneverknowwhoyou’llmeet.

Rememberthatcompetitionforjobsisatitslowestduringtheholidays.InDecember,manyjobhunterscallitquits,atleastuntilJanuary2nd.Thisisyourcuetorampupyourownsearch.It’snottruethatcompaniesdon’thireduringtheholidays.Theydo.YoumighteventryreachingoutbetweenChristmasandNewYear’s,whenhiringmanagersaremorelikelytobeansweringtheirownphones.

Sendcards.Thisisthetimeofyearwhenit'

snaturaltoremindtheworldofyourexistence.WhetheryouoptforChristmascards,NewYear’scards,printedholidayletters,orane-newsletter,nowistheperfecttimetoreconnectwithfriends,colleagues,formerbosses,formerprofessors—everyoneyouknoworusedtoknow.Keepittastefulandsincere,andaddapersonalnotetoeachmessage.

Volunteer.Volunteering—toserveatthefoodbank,hangdecorationsdowntown,orparticipateinanyactivitywherepeoplegatherandworktogether—isanotherstellarwaytoexpandyournetwork.Giveitatry.Youreallycandowellforyourselfbydoinggoodforothers.Youmightalsolearnanewskill,ordiscoveranewfield,orsimplymeetnewfriends.

Alwaysremainprofessional.Keepinmindthattoomuchholidaycheercanworkagainstyou,too.Whatevereventsyouattend,bepleasantandbusinesslike.Youaretryingtoimpress!

Ifeggnogandrumballsturnyouwoozy,avoidthem.Rememberthataworkplaceholidaypartyisnotreallya“party.”It’sabusinessevent.Comportyourselfaccordingly.

Rechargeyourbatteries.Sure,usethoseextradaysoffforfamilyeventsandpartieswithfriends,butdon’tforgettocarveoutsomeyou-time.Getthesleepyouneed.Lookforhealthywaystodealwithholidaystress.Exercise.Takelongwalks,talkwithyourmentors,orreadinspirationalbooks.Thatwayyou’llberelaxed,refreshed,andreadytohitthegroundrunningcomeJanuary.

Puttingalittleenergyintoyourcareer—whileeveryoneelseisfiguringouthowtoleaveworkearlytogettothemall—mayjustbethebestpresentyoucangiveyourself.

Passage3:

WhyaDouble-DipRecessionHasn'

tHappened

ByRickNewman

Stepbacktolastsummerforamoment.Homesaleshadplunged—again—afterabigfederalsubsidyforbuyersexpired.Stockswereinaswoon,asinvestorsworriedthatEurope'

sdebtcrisiswouldcontaminatetheworld'

sfinancialsystem.Growthwasslowingasstimulusspendingfrom2009hititspeakandbegantowinddown.Ruinousdeflationseemedpossible,promptingcomparisonstoJapan'

s"

lostdecad