How The Stock Exchange Works (For Dummies) Wie||Aktie|Börse|||Für Dummies ||||||初心者 كيف تعمل البورصة (للمبتدئين) Wie die Börse funktioniert (für Dummies) Cómo funciona la Bolsa (Para Dummies) Le fonctionnement de la bourse (Pour les Nuls) 証券取引所のしくみ（For Dummies） Kaip veikia vertybinių popierių birža (For Dummies) Hoe de beurs werkt (voor Dummies) Jak działa giełda (dla opornych) Como funciona a bolsa de valores (para leigos) Как работает фондовая биржа (для чайников) Borsa Nasıl Çalışır (For Dummies) Як працює фондова біржа (для чайників) 证券交易所是如何运作的（傻瓜版） 證券交易所是如何運作的（傻瓜版）

What is the Stock Exchange and how does it work? ما هي البورصة وكيف تعمل؟ 株式市場とは何であり、どのように機能しますか？ Borsa nedir ve nasıl çalışır?

The Stock Exchange is nothing more than a giant globally network |||||||||weltweit| البورصة ليست أكثر من شبكة عالمية عملاقة Die Börse ist nichts anderes als ein riesiges globales Netzwerk 株式市場は、単なる巨大なグローバルネットワークです。 Borsa dev bir küresel ağdan başka bir şey değildir 证券交易所只不过是一个巨大的全球网络

tend to organize the market place where every day huge sums of money are moved back and forth. ||||||||||Geldbeträge||||||| tend to||||||||||||||||| تميل إلى تنظيم السوق حيث يتم نقل مبالغ ضخمة من المال كل يوم ذهابًا وإيابًا. 毎日、大金が行き交う市場を整理する傾向があります。 tendem a organizar o mercado onde todos os dias grandes somas de dinheiro são movidas para frente e para trás. her gün büyük miktarlarda paranın gidip geldiği pazar yerini düzenleme eğilimindedir. 倾向于组织每天来回转移巨额资金的市场。

In total over sixty trillion (60,000,000,000,000) Euros a year are traded. |||||Euro pro Jahr||||gehandelt |||||||||取引される في المجموع ، يتم تداول أكثر من ستين تريليون (60.000.000.000.000) يورو سنويًا. 每年的交易总额超过六十万亿（60,000,000,000,000）欧元。

More than the value of all goods and services of the entire world economy. ||||||Waren und Dienstleistungen||||||| أكثر من قيمة كل السلع والخدمات للاقتصاد العالمي بأسره. Mehr als der Wert aller Waren und Dienstleistungen der gesamten Weltwirtschaft. 超过整个世界经济所有商品和服务的价值。

However it's not apples or second hand toothbrushes that are traded on this marketplace. |||Äpfel||||Zahnbürsten||||||Marktplatz |||||||歯ブラシ|||||| No entanto, não são maçãs ou escovas de dente usadas que são comercializadas neste mercado. 然而，这个市场上交易的不是苹果或二手牙刷。

But predominantly securities. |Aber überwiegend Wertpapiere.|Aber überwiegend Wertpapiere. |主に| 但主要还是证券。

Securities are rights to assets, mostly in the form of shares. ||||Vermögenswerte||||||Aktien 証券||||||||||株 Wertpapiere sind Rechte an Vermögenswerten, meist in Form von Aktien. 証券は資産に対する権利であり、主に株式の形で存在します。 Títulos são direitos sobre ativos, principalmente na forma de ações.

A share stands for a share in a company. Eine Aktie steht für einen Anteil an einem Unternehmen. Una acción representa una participación en una empresa. 株式は会社の一部を意味します。

But why are shares traded at all? Aber|||||überhaupt| しかし、株式はなぜ取引されるのですか？ Mas por que as ações são negociadas? Peki ama hisseler neden alınıp satılıyor? 但股票为什么要交易呢？

Well, first and foremost the value of a share relates to the company behind it. |||in erster Linie||||||||||| |||||||||関連する||||| Nun, in erster Linie bezieht sich der Wert einer Aktie auf das dahinter stehende Unternehmen. Bem, antes de tudo, o valor de uma ação está relacionado à empresa por trás dela. 首先，股票的价值与其背后的公司相关。

If you think the value of a company in terms of a pizza. ||||||||||||Pizza ||||||||||||ピザ 如果你用披萨来衡量一家公司的价值。

The bigger the overall size of the pizza, the bigger every piece is. The|||total||||||||| Je größer die Gesamtgröße der Pizza ist, desto größer ist jedes Stück. Quanto maior o tamanho total da pizza, maior é cada pedaço.

If for example Facebook is able to greatly increase its profits with a new business model. Wenn zum Beispiel Facebook in der Lage ist, seine Gewinne mit einem neuen Geschäftsmodell erheblich zu steigern. Se por exemplo o Facebook conseguir aumentar muito seus lucros com um novo modelo de negócio.

The size of the companies pizza will also increase, and as a result so will the value of its shares. Die Größe der Pizza des Unternehmens wird ebenfalls zunehmen, und damit auch der Wert seiner Aktien.

This is of course great for the share holders. |||||||Aktieninhaber|Aktionäre ||||||||株主

A share which perhaps used to be worth 38 euros could now be worth a whole 50 euros. Uma ação que talvez valesse 38 euros pode agora valer 50 euros.

When it's sold this represents a profit of twelve euro per share! ||verkauft||||||||| 当其出售时，这意味着每股十二欧元的利润！

But what does Facebook gain from this? |||フェイスブック||| 但 Facebook 从中能得到什么呢？

The company can raise funds by selling the shares and invest or expand it's business. Das Unternehmen kann sich durch den Verkauf von Aktien Mittel beschaffen und investieren oder sein Geschäft ausbauen. A empresa pode levantar fundos vendendo as ações e investir ou expandir seus negócios. 公司可以通过出售股票来筹集资金，用于投资或扩大业务。

Facebook, for example, has earned sixteen billion dollars from it's listing on the Stock Exchange. ||||verdient||||||Börsengang|||| ||||||||||上場|||| Facebook zum Beispiel hat mit seiner Börsennotierung sechzehn Milliarden Dollar verdient. 例えば、Facebookは株式市場への上場から160億ドルを得ました。 O Facebook, por exemplo, ganhou dezesseis bilhões de dólares com sua listagem na Bolsa de Valores. 例如，Facebook 通过在证券交易所上市已经赚取了 160 亿美元。

The trading of shares though, is frequently a game of chance. Der|Der Handel|||||häufig||Spiel|| Der Handel mit Aktien ist jedoch häufig ein Glücksspiel. しかし、株の取引は頻繁にチャンスのゲームです。 A negociação de ações, porém, é frequentemente um jogo de azar. 然而，股票交易通常是一种机会游戏。

No one can say which company will preform well and which will not. |||||||abschneiden||||| |||||||業績を上げる||||| どの会社がうまくいくか、どの会社がうまくいかないかは誰にも言えません。

If a company has a good reputation, investors will back it. ||||||Ruf||werden|| Wenn ein Unternehmen einen guten Ruf hat, werden die Investoren es unterstützen. Se uma empresa tem uma boa reputação, os investidores irão apoiá-la. 如果一家公司声誉良好，投资者就会支持它。

A company with a poor reputation or poor performance will have difficulty selling its shares.

Unlike a normal market in which goods can be touched and taken home |||||||||berührt werden||| |||||||||触れる||| Im Gegensatz zu einem normalen Markt, auf dem man Waren anfassen und mit nach Hause nehmen kann 物を触ったり家に持ち帰ったりできる普通の市場とは異なり Ao contrário de um mercado normal em que as mercadorias podem ser tocadas e levadas para casa 与普通市场不同，商品可以触摸并带回家

on the Stock Exchange only virtual goods are available. |||||virtuell||| 株式市場では、バーチャルな商品しか入手できません。 na Bolsa de Valores, apenas bens virtuais estão disponíveis.

They appear in the form of share prices and tables on monitors. それらは、モニター上の株価やテーブルの形で現れます。 Eles aparecem na forma de preços de ações e tabelas em monitores. 它们以股价和表格的形式出现在显示器上。

Such shareprices can rise or fall within seconds. |Aktienkurse|||||| |株価|||||| 这样的股价可以在几秒钟内上涨或下跌。

Shareholders therefore have to act quickly in order not to miss an opportunity. Aktionäre|||||||||||| 株主|||||||||||| Os acionistas, portanto, devem agir rapidamente para não perder uma oportunidade. 因此，股东必须迅速采取行动，以免错过机会。

Even a simple rumor can result in the demand for a share falling fast regardless of the real value of the company. |||Gerücht|||||||||||||||||| |||噂|||||||||||||||||| Schon ein einfaches Gerücht kann dazu führen, dass die Nachfrage nach einer Aktie unabhängig vom tatsächlichen Wert des Unternehmens schnell sinkt. Mesmo um simples boato pode fazer com que a demanda por uma ação caia rapidamente, independentemente do valor real da empresa. 无论公司的实际价值如何，即使是一个简单的谣言也可能导致股票需求快速下降。

Of course the opposite is also possible.

If a particularly large number of people buy weak shares. Se um número particularmente grande de pessoas comprar ações fracas. 如果买弱势股的人特别多的话。

Because if they see for example great potential behind an idea. 因为如果他们看到某个想法背后有巨大的潜力。

Their value will rise as a result. 它们的价值将会上升。

In particular young companies can benefit from this. |especially young companies||||||

Even though their sales might be falling, they can generate cash by placing their shares. Mesmo que suas vendas estejam caindo, eles podem gerar caixa colocando suas ações. 即使他们的销售额可能下降，他们仍然可以通过发行股票来获取现金。

In the best case scenario this will result in their idea being turned into reality. 最良のシナリオでは、彼らのアイデアが現実になるでしょう。 Na melhor das hipóteses, isso resultará na transformação de sua ideia em realidade. 在最好的情况下，这将导致他们的想法变成现实。

In the worst case scenario, this will result in a speculative bubble with nothing more than hot air. ||||||||||spekulativen||||||| ||||||||||uncertain risky conjectural||||||| 最悪のシナリオでは、これは何もない空気のような投機バブルになるでしょう。 Na pior das hipóteses, isso resultará em uma bolha especulativa com nada mais do que ar quente. 在最糟糕的情况下，这将导致一个空洞的投机泡沫。

And as the case with bubbles, at some point, they will burst. Und|||||||||||platzen Und wie das bei Seifenblasen so ist, irgendwann werden sie platzen. そしてバブルの場合と同様に、ある時点でそれらは弾けます。 E como no caso das bolhas, em algum momento elas irão estourar. 就像泡沫一样，到了某个时候，它们就会破裂。

The value of Germany's biggest thirty companies is summarized in what is known as the DAX share index. |||Deutschlands|||||zusammengefasst|||||||DAX-Index||Aktienindex |||ドイツの||||||||||||DAX株指数|| Almanya'nın en büyük otuz şirketinin değeri DAX hisse endeksi olarak bilinen endekste özetlenmektedir. 德国最大的三十家公司的价值被概括在所谓的 DAX 股票指数中。

The DAX shows how well or poorly these major companies ||||||schlecht||| |ダックス指数|||||||| Der DAX zeigt, wie gut oder schlecht es diesen großen Unternehmen geht. O DAX mostra quão bem ou mal essas grandes empresas

and there by the economy as a whole are performing at the present time. und|||||||||sich entwickeln|||| und damit auch die Wirtschaft als Ganzes entwickeln sich gegenwärtig. e lá pela economia como um todo estão realizando no momento.

Stock Exchange is in other countries also have there own indices. ||||||||||Indizes ||||||||||indexes ||||||||||指数 Börsen sind auch in anderen Ländern haben ihre eigenen Indizes. Beurs heeft in andere landen ook eigen indices. 其他国家的证券交易所也有自己的指数。

And all of these markets together create a globally networked marketplace. ||||Märkte|||||vernetzt| ||||市場|||||| Und all diese Märkte zusammen bilden einen global vernetzten Markt.

Subtitles by the Amara.org community Untertitel von Amara|||Amara-Community|| |||アマラ|| Untertitel von der Amara.org-Community