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  3. The term investment portfolio conjures up visions of the truly rich—the Rockefellers, the Wal-Mart Walton’s, Bill Gates. But tod

The term investment portfolio conjures up visions of the truly rich—the Rockefellers, the Wal-Mart Walton’s, Bill Gates. But tod

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问题     The term investment portfolio conjures up visions of the truly rich—the Rockefellers, the Wal-Mart Walton’s, Bill Gates. But today, everyone—from the Philadelphia firefighter, his part time receptionist wife and their three children, to the single Los Angeles lawyer starting out on his own—needs a portfolio.
    A portfolio is simply a collection of financial assets. It may include real estate, rare stamps and coins, precious metals and even artworks. But those are for people with expertise. What most of us need to know about are stocks, bonds and cash (including such cash equivalents as money market funds).
    How do you decide what part of your portfolio should go to each of the big three? Begin by understanding that stocks pay higher returns but are more risky; bonds and cash pay lower returns but are less risky.
    Research by Ibbotson Associates, for example, shows that large company stocks, on average, have returned 11. 2 percent annually since 1926. Over the same period, by comparison, bonds have returned an annual average of 5. 3 percent and cash, 3. 8 percent.
    But short term risk is another matter. In 1974, a one year $1,000 investment in the stock market would have declined to $7. 35.
    With bonds, there are two kinds of risk: that the borrower won’t pay you back and that the money you’ll get won’t be worth very much. The U. S. government stands behind treasury bonds, so the credit risk is almost nil. But the inflation risk remains. Say you buy a $1,000 bond maturing in ten years. If inflation averages about seven percent over that time, then the $1,000 you receive at maturity can only buy $500 worth of today’s goods.
    With cash, the inflation risk is lower, since over a long period you can keep rolling over your CDs every year (or more often). If inflation rises, interest rates rise to compensate.
    As a result, the single most important rule in building a portfolio is this: If you don’t need the money for a long time, then put it into stocks. If you need it soon, put it into bonds and cash.
The author mentions such millionaires as the Rockefellers and Bill Gates to show that________.
选项 A、they are examples for us on our road to wealth
B、a portfolio is essential to financial success
C、they are really rich people
D、they started out on their own
答案B
解析 事实细节题。第一段第一句提到，“投资组合”一词让人联想到真正的富人，比如洛克菲勒家族和比尔.盖茨；紧接着第二句说明如今每个人都需要投资组合。由此可知，作者提到洛克菲勒家族和比尔.盖茨是为了表明，不管是富人还是普通人，都需要投资组合，故B项为答案。
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