[A] nominated [B] selected [C] appointed [D] supported
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00 in fine cotton dress and with exquisite ornaments of bead, gold, and silver. Few burials rival their lavish sepulchres. Being able to trace the development of such rituals over thousands of years has added to our understanding of the development of human intellect and spirit.
[B] By 40,000 years ago people could be found hunting and gathering food across most of the regions of Africa. Populations in different regions employed various technological developments in adapting to their different environments and climates.
[C] Archaeological studies have also provided much information about the people who first arrived in the Americas over 12,000 years ago.
[D] The first fossil records of vascular plants—that is, land plants with tissue that carries food—appeared in the Silurian period. They were simple plants that had not developed separate stems and leaves.
[E] Laetoli even reveals footprints of humans from 3.6 million years ago. Some sites also contain evidence of the earliest use of simple tools. Archaeologists have also recorded how primitive forms of humans spread out of Africa into Asia about 1.8 million years ago, then into Europe about 900,000 years ago.
[F] One research project involves the study of garbage in present-day cities across the United States. This garbage is the modern equivalent of the remains found in the archaeological record. In the future, archaeologists will continue to move into new realms of study.
[G] Other sites that represent great human achievement are as varied as the cliff dwellings of the ancient Anasazi (a group of early Native Americans of North America) at Mesa Verde, Colorado; the Inca city of Machu Picchu high in the Andes Mountains of Peru; and the mysterious, massive stone portrait heads of remote Easter Island in the Pacific.
The word “passing”(Line 7, Paragraph 1) most probably means_____.
[A] instant [B] trivial [C] simple [D] negligible
Text 2We’re moving into another era, as the toxic effects of the bubble and its grave consequences spread through the financial system. Just a couple of years ago investors dreamed of 20 percent returns forever. Now surveys show that they’re down to a “realistic”8 percent to 10 percent range.
But what if the next few years turn out to be below normal expectations? Martin Barners of the Bank Credit Analyst in Montreal expects future stock returns to average just 4 percent to 6 percent. Sound impossible? After a much smaller bubble that burst in the mid-1960s Standard & Poor’s 5000 stock average returned 6.9 percent a year (with dividends reinvested) for the following 17 years. Few investors are prepared for that.
Right now denial seems to be the attitude of choice. That’s typical, says Lori Lucas of Hewitt, the consulting firm. You hate to look at your investments when they’re going down. Hewitt tracks 500,000 401 (k) accounts every day, and finds that savers are keeping their contributions up. But they’re much less inclined to switch their money around. “It’s the slot-machine effect,” Lucas says. “People get more interested in playing when they think they’ve got a hot machine”—and nothing’s hot today. The average investor feels overwhelmed.
Against all common sense, many savers still shut their eyes to the dangers of owning too much company stock. In big companies last year, a surprising 29 percent of employees held at least three quarters of their 402 (k) in their own stock.
Younger employees may have no choice. You often have to wait until you’re 50 or 55 before you can sell any company stock you get as a matching contribution.
But instead of getting out when they can, old participants have been holding, too. One third of the people 60 and up chose company stock for three quarters of their plan, Hewitt reports. Are they inattentive? Loyal to a fault? Sick? It’s as if Lucent, Enron and Xerox never happened.
No investor should give his or her total trust to any particular company’s stock. And while you’re at it, think how you’d be if future stock returns—averaging good years and bad—are as poor as Barnes predicts.
If you ask me, diversified stocks remain good for the long run, with a backup in bonds. But I, too, am figuring on reduced returns. What a shame. Dear bubble, I’ll never forget. It’s the end of a grand affair.
第26题:The investors’ judgment of the present stock returns seems to be _____.
[A] fanciful
[B] pessimistic
[C] groundless
[D] realistic
The author’s attitude towards the long-term investors’ decision is _____.
[A] positive
[B] suspicious
[C] negative
[D] ambiguous