20、 Obama
中級 英 192 タグ追加 保存
このエントリーをはてなブックマークに追加
動画の字幕をクリックしてすぐ単語の意味を調べられます！
単語帳読み込み中…
字幕の修正報告
00:00:05,340 --> 00:00:07,650 The number of companies listed on US stock markets
is shrinking.
I'm going to explain what's going on
and why it might spell trouble.
00:00:17,450 --> 00:00:20,230 So this line shows the number of publicly listed companies
in the United States.
The data comes from the World Bank.
It goes all the way back to 1980 now.
As you can see, in 1996 this number peaked around 8,000,
but since then has fallen to around 4,400.
So that's a decline of about 45 per cent in just over 20 years.
00:00:40,860 --> 00:00:42,280 So what's happening here?
Well, one thing has to do with private equity.
Now, investors are putting a lot of money into private equity
firms lately.
And that's because they think that it
will get them more returns than other markets will.
Private equity firms, they take that money and they
turn around and buy companies.
So this happened recently with Barnes & Noble, the bookseller,
which was a public company.
But it was bought by a firm called Elliott Management.
Now, Elliott is actually a hedge fund.
But the fact that it's playing around in the private equity
space should tell you how much money is going into that space
right now.
Now, a second thing that's happening
is that companies that could newly list themselves in IPOs
don't necessarily have as much incentive to do that, firstly,
because they can still raise that money,
like I said, in private markets.
Maybe it's a late stage venture capital round, or again,
private equity.
But also, they don't really have incentive,
because they are under a lot more scrutiny when
they're public companies.
And as a public company, you have
to disclose more information.
So if they can avoid the hassle and still get the money,
why list themselves?
A third reason has to do with mergers and acquisitions, which
have been quite high lately.
And that's pretty self-explanatory.
When one company acquires another,
two companies have become one.
And therefore, you have fewer public companies.
Now why is this a problem?
Well, I like to think of the stock market
like a pond and the companies that are listed like fish.
And the money going into the stock market
is like food to feed the fish.
But then one day, let's say you take half the fish out
of the pond.
00:02:20,930 --> 00:02:23,390 If the same amount of food is going into the pond,
then these fish are going to eat it,
and they're going to get a really big, because there's
less competition.
So this is the same thing that potentially
is going on with the stock market, which is
that you have fewer companies.
They have less competition.
There's less companies available for the public
to put their money into.
So the prices of those companies tend
to potentially become inflated.
Now, this is causing a little bit of concern.
Even regulators have talked about it a bit.
But frankly, the trend isn't going to reverse itself
until the public markets become a popular pond for companies
to swim in again.
And until then, they may just get bigger and bigger
until they finally pop.
コツ：単語をクリックしてすぐ意味を調べられます！

読み込み中…

中級 英

Charts that Count: Why the US stock market has shrunk by half

192 タグ追加 保存
このエントリーをはてなブックマークに追加
洪子雯 2019 年 7 月 22 日 に公開

お気に入り

loading

コメント

読み込み中…
お勧め動画

  1. 1. クリック一つで単語を検索

    右側のスプリクトの単語をクリックするだけで即座に意味が検索できます。

  2. 2. リピート機能

    クリックするだけで同じフレーズを何回もリピート可能！

  3. 3. ショートカット

    キーボードショートカットを使うことによって勉強の効率を上げることが出来ます。

  4. 4. 字幕の表示/非表示

    日・英のボタンをクリックすることで自由に字幕のオンオフを切り替えられます。

  5. 5. 動画をブログ等でシェア

    コードを貼り付けてVoiceTubeの動画再生プレーヤーをブログ等でシェアすることが出来ます！

  6. 6. 全画面再生

    左側の矢印をクリックすることで全画面で再生できるようになります。

  1. クイズ付き動画

    リスニングクイズに挑戦！

  1. クリックしてメモを表示

  1. UrbanDictionary 俚語字典整合查詢。一般字典查詢不到你滿意的解譯，不妨使用「俚語字典」，或許會讓你有滿意的答案喔