Shadowing Practice: The Stock Market is BROKEN (just accept it) - Learn English Speaking with Video

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109 משפטים
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1
At some point over the last few years, investing stopped feeling like analysis and started feeling like watching a game of Wheel of Fortune.
2
And honestly, it's been pretty entertaining, because it's hard not to smile when someone on Reddit turns a weekly options trade into a 2 ,000 % gain,
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and then immediately posts a screenshot like they've just unlocked the capitalism speedrun.
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But, while it may be awesome to watch from the sidelines, it's also deeply unsettling.
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Because for most of modern financial history, markets weren't perfect, but they were at least anchored to something real.
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Things like earnings, cash flows, and economic data.
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The boring adult stuff.
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And sure, historically, markets have always had periods where they go through manic phases.
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But whether it was large cap stocks in the 70s, internet stocks in the early 2000s, or even the banks in 2008, eventually fundamentals showed up like gravity.
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You could ignore them for a while, mock them, and even post memes about them.
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But sooner or later, intrinsic valuations mattered again.
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Because there was always an unspoken belief that value investing was at the foundation of markets.
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But over the last few years, it feels like that belief is changing.
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And it's not because prices are high.
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Markets have been expensive before.
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And it's not because speculation is present either.
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Speculation is basically a market tradition.
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What feels different this time around is that the relationship between market prices and fundamentals feels loose.
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It's like they're technically in the same room, but they just aren't on speaking terms anymore.
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Because since 2020, if someone tries to bring fundamentals back into the conversation, they get the same reaction as someone asking the DJ to play Nickelback.
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Because the pandemic wasn't just a shock to the markets.
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It rewired them.
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The story used to be "invest for the long term" and "buy quality companies at fair prices." But since the pandemic, the story has changed.
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Now it's "buy the dip because stocks only go up." a little uncomfortable.
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And not because it hasn't been working, but because it has been.
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And what used to be a strategy has quietly just turned into an assumption.
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And this mindset shift didn't come out of nowhere.
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It was the perfect storm of a mass influx of new investors, interest rates being historically low, and Jerome Powell's money printer doing its best impression of a fire hose.
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And slowly but surely, the markets adopted a new mindset where every dip is a gift
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and every sell -off is a buying opportunity.
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And here's the part nobody likes to talk about.
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retail investors, it's affected professionals.
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Because when markets stop behaving the way you were trained to understand them, experience stops being an advantage and starts becoming a liability.
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Take Michael Burry, for example, the same Michael Burry who famously profited $800 million from his bet against the housing market in 2008
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and the inspiration for the movie The Big Short.
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He is the human embodiment of trust the fundamentals and ignore the noise.
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And recently, he shut down his hedge fund.
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Why?
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Well, in his own words he said, "My estimation of value in securities is not now and has not been for some time in sync with the markets."
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Which really is just him saying, "The market has stopped pricing assets based on fundamentals." And you can see it across the board, from gold to real estate to equities to crypto.
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And if the market can stay irrational longer than you can stay solvent, then value investing stops being a viable strategy in markets.
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So if someone who built their entire fortune on trusting fundamentals is wondering whether gravity still applies to markets,
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it forces a deeper question: If fundamentals aren't driving prices anymore, then what is?
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And this is where behavioral finance enters the story.
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Because while traditional finance assumes markets are efficient and rational, behavioral finance starts from a very different assumption.
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It assumes markets are human.
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It assumes that things like human psychology, emotions, and psychological biases drive market behaviors.
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Which may sound obvious, but for most of modern financial history, this was an unpopular concept.
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Because psychologists Daniel Kahneman and Amos Tversky pioneered this field back in the late 1970s, they showed that humans don't evaluate risk objectively,
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that we fear losses more than we value gains, that we anchor to narratives, and that we instinctively follow crowds.
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But despite the evidence backing these ideas,
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behavioral finance still spent decades living explain anomalies in the markets,
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things like why bubbles formed and why panic happens.
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Investors assumed markets were efficient and just sometimes had the occasional emotional hiccup.
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But after 2020, something changed.
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The question shifted from "what is this company's intrinsic value?" to "how will people react to this news?"
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Because when narratives matter more than balance sheets, momentum overpowers valuations, and prices move without fundamentals catching up.
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There is something deeper going on, and investors were forced to adapt.
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Because behavioral finance stopped being used to just explain edge cases, and started being used as the operating system, everything else runs on.
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fuel on this fire, there's something else I need to tell you about.
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Which brings us to the sponsor of today's video, Aura.
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Because here's something that should make you uncomfortable.
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Right now, there are data brokers making billions of dollars by selling personal information online.
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They create detailed reports that include your name, your contact information, your address, and even who your relatives are.
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If they can collect it, they can sell it.
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And the scariest part?
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They don't really care who buys it.
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Scammers, spammers, or stalkers.
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If someone's willing to pay, your personal data is just another product on the shelf, and that's where Aura comes in.
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Aura helps protect your privacy by identifying data brokers that are selling your personal information, and then automatically removing your info from those sites, and keeping it off.
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And Aura is built to cover the full range of modern digital safety.
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With Aura, you get alerts if your personal info shows up on the dark web.
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a secure VPN, and access to 24 /7 US -based fraud support experts who are ready to help if something goes wrong.
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And if it does, Aura includes up to $5 million in identity theft insurance protection.
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If you're interested in checking out Aura, you can try it for free for 14 days at aura .com /casualfinance.
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Thank you to Aura for sponsoring this video.
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And now back to the secret forces that are driving the markets.
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Because human behaviors like But they used to be constrained.
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Information moved slowly, participation in markets was limited, and trading had friction.
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But now, you can wake up, see a hot stock tip online from some guy on Twitter, and then deploy capital before you've even finished brushing your teeth.
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Because narratives don't spread over months anymore.
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They spread over hours.
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And that's how markets have changed.
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Behavioral finance used to be a supplementary force in pricing, and now it's at the forefront.
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information and reaction.
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So when enough people agree on the same story, prices move, and often, with little to no regard for fundamentals.
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And because of this, institutions have been forced to adapt as well.
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Instead of just modeling traditional inputs like cash flows, discount rates, and trading multiples, they're now incorporating online narratives and sentiment analysis.
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And it's not because they just love scraping the dark corners of Reddit at 2am.
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But since 2020, these variables have done a better job explaining short -to -medium -term price action better than traditional metrics.
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And that's how we got to where we are today.
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And the reason I made this video was with the intention to answer one question: Is this just a fad, or is this a structural shift in markets?
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And the more time I spent digging into this question, the more I came to the conclusion that it's just too early to tell, and that's because there's a good argument for both sides.
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Because even after five straight years of behavioral finance being the driving force behind market behaviors, history tends to tell us this is still just a phase.
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Because markets have always gone through periods like this, where psychology takes over, power numbers and prices drift far away from fundamentals,
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but eventually, gravity shows up.
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And if that's the case with what's happening right now, we're just living through a good old -fashioned bubble, and things will make sense again sooner or later.
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But the other possibility is hard to ignore.
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The disappearance of friction, the rise of social media, and the mass influx of new investors may have structurally changed the markets.
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And if that's true, then this isn't just a bubble we're seeing, it's a new regime, one where markets don't just price cash flows, they price attention.
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So the real question isn't whether markets feel strange.
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They do.
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The real question is if whether this strangeness is temporary, or whether we're seeing an investment landscape that's fundamentally changed.
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And I'm curious to hear where you land.
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Do you think this is just another bubble driven by familiar psychology and emotions?
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Or do you think this is a permanent shift in how markets work?
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Drop your take in the comments, and I'll be reading through them.
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And maybe that's the final irony in it all.
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Maybe debating whether this is a bubble or not might be a part of the same psychology that's driving it.

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אוצר מילים והערות הגייה לשיעור הזה

שיעור הדיבור הזה ברמה B2 מבוסס על הסרטון “The Stock Market is BROKEN”. המילים שחוזרות הכי הרבה: fundamentals, price, aura, finance, behavioral. בסרטון הזה יש 109 משפטים ו-1581 מילים לתרגול Shadowing. הדיבור נמשך 8:55. הדובר מדבר בקצב טבעי של כ-177 מילים בדקה, קרוב לשיחה יומיומית. רק 81% מהמילים נמצאות בין 3,000 המילים הנפוצות ביותר באנגלית, כך שאוצר המילים מאתגר.

אוצר מילים מרכזי בסרטון הזה

15 המילים המתקדמות ביותר בסרטון, עם ההגייה והמשמעות שלהן:

מילההגייהמשמעות
investor שם עצם/ɪnˈvɛs.tə(ɹ)/מַשְׁקִיעַ
bubble שם עצם/ˈbʌbəl/בּוּעָה
broker שם עצם/ˈbɹoʊkɚ/בְּרוֹקֶר
anchor שם עצם/ˈæŋ.kəː/עוגן \ עֹגֶן
assumption שם עצם/əˈsʌm(p).ʃ(ə)n/השערה hash'ará, הנחה hanakhá
emotion שם עצם/ɪˈməʊ.ʃən/רֶגֶשׁ
hiccup שם עצם/ˈhɪkʌp/שיהוק
stalker שם עצם/ˈstɔːkə(ɹ)/מטריד כפייתי
unpopular שם תוארלא פופולרי
hose שם עצם/hoʊz/צִנּוֹר, קוֹלָח
hedge שם עצם/ˈhɛd͡ʒ/גָדֵר חַיָה
disappearance שם עצם/dɪsəˈpɪəɹəns/היעלמות, הֵעָלְמוּת
fundamentally תואר הפועלעֶקְרוֹנִית
psychologist שם עצם/ˌsaɪˈkɑl.ə.d͡ʒɪst/פְּסִיכוֹלוֹג, פסיכולוגית
entertain פועל/ˌɛntəˈteɪn/בידר

Phrasal verbs שתשמעו

מילההגייהמשמעות
check out פועלבדק
go up פועלעָלָה
wake up פועל/ˌweɪk ˈʌp/התעורר

דקדוק בסרטון הזה

המבנים שהדובר משתמש בהם הכי הרבה, עם המילים המדויקות מהסרטון:

מבנהבסרטון
“Used to” used to + verb — הרגל או מצב שהיה נכון בעבר וכבר לא קייםused to be
הווה מושלם (Present perfect) have/has + past participle — פעולה שקרתה בעבר ועדיין יש לה חשיבות או השפעה עכשיוit's been · they've just unlocked · have always had
סביל (Passive voice) be + past participle — הדגש הוא על מה שקורה, לא על מי שעושה את הפעולהwere trained · were forced · being used

הגייה ששווה לשים לב אליה

הדובר משתמש ב-22 קיצורים וצורות מקוצרות, כמו don't, we're, aren't. אמרו אותם בצורה הקצרה, כפי שאתם שומעים אותם.

  • הצלילים של “sh” ו-“zh”: friction /ˈfɹɪkʃən/, valuation /ˌvæ.ljuːˈeɪ.ʃən/, speculation /ˌspɛk.jəˈleɪ.ʃən/, assumption /əˈsʌm(p).ʃ(ə)n/, emotion /ɪˈməʊ.ʃən/
  • מילים ארוכות — שימו לב להטעמה: behavioral /bɪˈheɪvjəɹəl/, valuation /ˌvæ.ljuːˈeɪ.ʃən/, speculation /ˌspɛk.jəˈleɪ.ʃən/, historically /hɪˈstɔɹɪkli/, uncomfortable /ʌnˈkʌm.fɚ.tə.bl̩/

צלילים שדוברי עברית מתקשים בהם:

  • /w/ — שפתיים מעוגלות, לא /v/: rewire /ɹiːˈwaɪə(ɹ)/, quietly /ˈkwaɪ.ɪt.li/
  • /æ/ — פתוח יותר מה-“אֶ” העברית, לא כמו “a” ב-“cup”: valuation /ˌvæ.ljuːˈeɪ.ʃən/, adapt /əˈdæpt/, anchor /ˈæŋ.kəː/, irrational /ɪˈɹæʃ.(ə.)nəl/, capitalism /ˈkæp.ə.təlˌɪzm̩/
  • /r/ — הלשון לא נוגעת בשום מקום, לא ה-“ר” הגרונית: aura /ˈɔːɹə/, behavioral /bɪˈheɪvjəɹəl/, investor /ɪnˈvɛs.tə(ɹ)/, intrinsic /ɪnˈtɹɪn.zɪk/, friction /ˈfɹɪkʃən/

איך לתרגל עם הסרטון הזה

  1. הקשיבו לכל הסרטון פעם אחת בלי לדבר, ורשמו את המילים שאתם לא מכירים.
  2. התחילו במהירות 0.75×, תרגלו Shadowing משפט אחר משפט, וחזרו למהירות רגילה כשזה מרגיש קל.
  3. הקליטו את עצמכם והשוו למקור, תוך תשומת לב למילים כמו investor, bubble, broker.

מהי טכניקת השאדואינג?

שאדואינג היא טכניקת למידת שפה מבוססת מדע שפותחה במקור להכשרת מתורגמנים מקצועיים ופופולרית על ידי הפוליגלוט ד"ר אלכסנדר ארגואלס. השיטה פשוטה אך עוצמתית: אתה מקשיב לאודיו באנגלית ילידית וחוזר עליו בקול רם מיד — כמו צל העוקב אחרי הדובר עם עיכוב של 1–2 שניות בלבד. בניגוד להאזנה פסיבית או תרגילי דקדוק, שאדואינג מכריח את המוח והשרירים בפה לעבד ולשחזר דפוסי דיבור אמיתיים בו זמנית. מחקרים מראים שזה משפר משמעותית את דיוק ההגייה, האינטונציה, הקצב, הדיבור המחובר, הבנת השמיעה ושטף הדיבור — מה שהופך אותו לאחת השיטות היעילות ביותר להכנה לIELTS Speaking ולתקשורת באנגלית בעולם האמיתי.

טכניקת Shadowing: קרא את המדריך המלא שלב אחר שלב →