XI. Прочтите текст. Письменно переведите 1 и 4 абзацы

Investors

1. Investors may be organizations or individuals. Organization as institutional investors buy securities with their funds or funds held in trust for others. Major institutional investors are insurance companies make their investments generate profits and funds for paying future insurance claims. A pension fund wants to make money on its investments so that it can pay off pensioners.

2. The other types of investors are individuals who trade securities for their own accounts. The majority of personal investors have rather small stock portfolios usually valued at less than $50, 000. They often use these funds for major purchases such as a home, retirement income, or as a source of cash in case of emergency.

3. The objectives of investors can be identified in terms of speculation, growth, and income.

4. Some investors set an objective of achieving big payoffs. They engage in speculation, or assuming large risks in the hope of large returns. One of the ways to speculate is to buy «penny stock». It is highly speculative stock that sells at less than $5. A $1 stock that is in high demand may rapidly run up to $3 thus tripling the initial investment. «Penny stock» is typically a share in new ventures.

5. More investors are interested in long term growth in the value of their investment. They tend to prefer the so called blue chip stocks of large, high quality companies such as IBM, General Motors, American Express. The dividend for blue chip stocks is rather low because these firms reinvest must of their profits in research in order to remain competitive.

Вариант 5

I. Перепишите и письменно переведите предложения на русский язык. Вставьте нужный артикль: a) a; b) an; c) the; d) -.