The web hasn’t changed the fundamentals of smart investing. It has made it easier to invest, but the problem with online investi

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问题     The web hasn’t changed the fundamentals of smart investing. It has made it easier to invest, but the problem with online investing is that most novice investors think they can make a lot of money with no skills and no investment knowledge. One of the reasons why rookie investors have the misconception that they do not need any skills or investment knowledge to make money is because over the past seven years, the markets have been pushing ahead with a strong bullish trend, where almost any buy-and-hold strategy made big profits for the common investor. But once the markets begin to show signs of bearish signals such as they have in the past month of March(Nasdaq down 30%), possibilities of making investment mistakes come at even greater speed. People begin to realize that maybe it’s time to implement smart financial planning.
    Know what you’re getting yourself into: Always inform yourself with the basics of the company. You need to do some fundamental analysis to determine if the stock is worth the price. Otherwise, you’ll be gambling on a hunch. If you don’t have the time or know-how to analyze the company, you can always let someone else do it for you by researching the net. Use the net carefully, avoid bulletin boards and chat rooms. You will be better off looking at sites of major brokerage houses, finance publications and mutual-fund companies, such as smartmoney.com, marketguide.com, bloomberg.com, redherring.com.
    Bull market vs. the Genius: Don’t confuse a bull market with smart investing. If you were lucky enough to be in the right place at the right time you would have made money without any effort. People sometimes feel smart when the market is going up, so we’re tempted to trade more often and take on riskier positions.
    Active trading: With today’s online investing, trading is only one mouse click away and investors are easily tempted to trade often. But it’s tough to beat the market on a consistent basis and make money with day trading. A buy-and-hold strategy is the best way to invest for the long-term.
    Day trading vs. longer-term: Over the course of a year, frequent trading can be very costly. But what really hurts from day trading is your contribution to the "Uncle Sam Foundation". Income taxes triggered by profits from active trading can reach as high as 40% of your capital gains, whereas if you buy and hold over a period of one year, you will qualify for the lower capital gains rate of 20%.
    Margin traps: Buying on margin(borrowing in order to invest)can backfire on any investor. People buy on margin when the market is going up because it allows them to accumulate a greater investment position quickly. In volatile markets, however, you may have to put additional cash or securities to cover losses. In some cases, the brokerage firm will actually sell your stocks to meet a margin call(more often than you think). Read your broker’s fine print in the margin agreements.
The word "rookie" in paragraph 1 is closest in meaning to______.

选项 A、sophisticated
B、naive
C、single-minded
D、new

答案D

解析
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