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  3. For investors wondering whether they should dump their stocks because they need the money, I have only this to say: If you need

For investors wondering whether they should dump their stocks because they need the money, I have only this to say: If you need

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问题     For investors wondering whether they should dump their stocks because they need the money, I have only this to say: If you need the money today, you should have sold years ago. That advice holds whether the market is up or down. Even though a lot of novice investors claim they are in stocks "for the long haul", that often turns out to be nonsense. It is easy to be brave and keep buying during a bull market. But what if we’re in for mediocre stocks market gains for the next 10 years?
    For some people, drops as steep as we’ve seen in Asian markets in recent months are too much to take physically. I’m a big believer in the sleep-at-night theory. No investment is worth keeping if it robs you of your sleep. If you can’t stomach 50 percent losses in your stock portfolios, get out now and save yourself a heart attack. You may not buy that mansion in Spain, but you’ll live to see your granddaughter’s graduation. Even if you sleep soundly, the prospect of a potentially prolonged bear market begs the most basic investment question: Why do you own the stocks that you do? Now, a few simple rules of investing apply:
    If you own stock in a company, but don’t know what it actually does to make a profit, you can have only yourself to blame if the share price plunges.
    If your company doesn’t make money and has no reasonable prospect of doing so soon, sell. Buying things that have no intrinsic value is fun with, say, baseball cards. But this is real money we’re talking about. Earnings and dividends paid out to stockholders are the only things that can tell you in the long term whether owning a stock is worthwhile.
    Most importantly, if you need the money in the next three to four years, look into buying bonds, either individually or through a mutual fund. Stocks in good businesses that are well run will eventually rise and outperform bonds, but maybe not as fast as you might need them to. Even if you plunge into the stock market without being precisely sure why, it’s never too late to think about your holdings. Remember, the worst stocks not only keep falling but can approach zero. The biggest losers are those who refuse to jump off what is clearly a sinking ship. They die proud and valiant deaths, but they’re dead in the water all the same.
The writer advises those who hesitate to sell their stocks for money to
选项 A、sell unless the market goes up.
B、buy more stocks during a bull market.
C、wait for the long haul.
D、sell out as soon as possible.
答案D
解析 作者建议那些犹豫着要不要卖掉手中的股票的人[A]卖掉手中的股票，除非市场走高。[B]在牛市时买进更多的股票。[C]等着放长线。[D]尽快将手中的股票抛出。此题看似一道细节题，实际上本题的解答需要综合理解第一段内容。文章开头指出对于那些因缺钱而难以决定是否应抛售自己股票的投资者来说，他们本该几年前就卖了。由此可以引申出：作者建议这些人尽早出售手中的股票，所以[D]为正确答案。第一段第二句指出：无论股市行情涨落，我始终坚持上述观点，而[A]与此正好相反；[B]错在没有理解原文第一段第四句和第五句这两个转折句之间的关系。这两句话的意思是：股市看涨时豪情万丈而不断买进是很容易做到的。可是，如果在未来10年里股市一直低迷，我们又该怎样呢?可见作者对[B]的做法持否定态度．[C]的错误在于没有理解第三句这个长句，本句的主句是：that often turns out to be nonsense，意思是：这最终常常被证明是无稽之谈，可见作者对此也是不赞同的。
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