专八英语阅读理解训练题及答案精编.docx

专八英语阅读理解训练题及答案

2018年专八英语阅读理解训练题及答案 一分耕耘，一分收获;要收获的好，必须耕耘的好。以下是小编为大家搜索整理的2018年专八英语阅读理解训练题及答案，希望对正在关注的您有所帮助!更多精彩内容请及时关注我们应届毕业生考试网! Theincreaseinthemarginratefrom50%to70%wasnotanattempttostemanyrampantspeculationonthepartofthepublic—actuallythemarketseemedtechnicallyquitestrong,withpublicparticipationessentiallydignified—butratheranattemptbytheFederalReserveBoardtopreservethesoundunderpinningsthatexistedinthemarket.Naturally,suchamovehadamomentarilychillingeffectuponpricesbutiftheFRBhadbeenpreoccupiedwithunduespeculation,theincreasemighthavebeentothe80%oreven90%level.Suchanincreasesinthemarginrateisaconfirmationofastrongstockmarketandsince19…,suchincreaseshaveresultedininterimmarkethighsovertwelvemonthslater.Obviously,therecouldbenoguaranteethatthiswouldonceagainbethecase,butifhistoryisanyguideline—andifbusinessandcorporateearningsweretocontinueonthesamecourse—continuedoptimismovertheoutlookforthestockmarketwouldseemmoreprudentthanpessimism. Themarginincreaseunderscoredthegoodrisethatstockshadenjoyedforthepreviousyear—andthefactthata50%ratewasmaintainedaslongasitwaspointedupthefactthattherisewasmainlyconservativeinthatitwasconcentratedinthebluechipsforthemostpart.InpastInvestmentLetterswehavevoicedthethoughtthatspecialitystockscouldoutperformthegeneralmarketfromthispoint.Wecontinuetobelievethatthiscouldbethecase.Forexample,steelstockstendtosellatcertainfixedprice/earningsratios.Belowacertainratiotheyareconsideredgoodvalue—aboveacertainratio,overpriced.Ifacompanyproducesauniqueproductitisfarmoredifficultformarketanalysistoplaceanumericalratiouponthecompany’searnings.WehavealsocontendedinthepastLettersthatthestockmarketreflectsmasspsychologyaswellasthebusinessoutlook.Wheninvestors—boththepublicandtheinstitutions—arenervousandpessimistictheydefinitelyhesitatetobuystocks:theyseeklowprice/earningsmultiplesandhighyields.Thesesameinvestors—whentheyareinanoptimisticframeofmind—becomeforlesspreoccupiedwith