职场新手选择股票技巧（中英文对照）

但对技术分析员来说，他并不需要明白那好消息是什么，走势图将告诉他股价会起还是落。他也不需明白公司的基础因素，对他来说，基础会伴着股价上升而改善。他们相信历史会重演，可从过去的股价走势推测它将来的表现。

On the other hand, fundamental analysis examines all relevant factors affecting the stock price in order to determine an intrinsic value for that stock. If the market price is below the intrinsic value, then the stock is undervalued and should be bought. The factors to consider include balance sheet items, corporate management, business prospects and earnings outlook.

The fundamental analyst calculates financial ratios based on data available from the balance sheet and income statement of a company. From these ratios, he deduces the financial strength and earnings trend of the company. Then he will meet the company's management to affirm his deductions, to understand the business and to learn of any new development of the company and the industry.

另一方面，基础分析则研究所有可能影响股价的因素，以确定股票的实际价值。如果市价低过实值，就值得买进。基础分析员研究资产与负债表的项目、企业管理层、业务展望和盈利潜能，再根据资产与负债表和损益表提供的数据计算而得的比例，判断这家公司的财力和盈利趋势。分析员也会与公司的管理层会面，了解它的业务以及有关公司和行业的最新发展。

A widely used tool in fundamental analysis is the price-earnings ratio or PE ratio. It is calculated using the stock price divided by the earnings per share (EPS) of a company. As a general rule, a stock with a low PE ratio is considered cheap although there are difficulties in applying this principle. PE ratios of two companies can only be compared if the companies are similar.

It is believed that companies in different industries deserve different PE ratios. For example, Singapore Telecom is believed to deserve a higher PE ratio than many other stocks because of its position in the telecommunication business.

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