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There’s no free lunch in fund investing: in addition to the sales fees that some fund companies charge, fund investors must also pay management fees and trading cost. Unfortunately, you don’t necessarily get what you pay for—no one has ever shown that more expensive funds provide greater returns. Look for funds with reasonable costs. The expense ratio, which expresses annual costs as a percentage amount, is probably the best number to use when comparing mutual fund costs.
| 45. |
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Whatever the market does, try to take it in stride. You’re in for the long haul, so don’t worry about the market’s day-to-day gyrations. Relax and resist the temptation to monitor your first investment daily. Check in on your mutual funds once a
Part C
Directions:
Read the following text carefully and then translate the underlined segments into Chinese. Your translation should be written clearly on ANSWER SHEET 2. (10 points)
On one view of rights, to be sure, it necessarily follows that animals have none. 47) Some philosophers argue that rights exist only within a social contract, as part of an exchange of duties and entitlements. Therefore, animals cannot have rights. The idea of punishing a tiger that kills somebody is absurd; for exactly the same reason, so is the idea that tigers have rights. However, this is only one account, and by no means an uncontested one. It denies rights not only to animals but also to some people—for instance, to infants, the mentally incapable and future generations. In addition, it is unclear what force a contract can have for people who never consented to it: how do you reply to somebody who says "I don't like this contract "?