In the 1600s, the Dutch East India Company employed hundreds of ships

1600年代、オランダ東インド会社は数百隻の船を運航していた

to trade gold, porcelain, spices, and silks around the globe.

金や陶磁器、香辛料、絹を世界中で取引するためだ

But running this massive operation wasn't cheap.

しかしこの巨大事業の運営にはお金がかかった

In order to fund their expensive voyages,

高額な航海の資金を調達するため

the company turned to private citizens,

会社は一般市民に目を向けた

individuals who could invest money to support the trip

航海資金に出資してくれる個人だ

in exchange for a share of the ship's profits.

見返りは船の利益の一部だった

This practice allowed the company to afford even grander voyages,

この仕組みでさらに大規模な航海が可能になり

increasing profits for both themselves and their savvy investors.

会社と目利きの投資家双方の利益が増えていった

Selling these shares in coffee houses and shipping ports across the continent,

大陸各地のコーヒーハウスや港でこの株を売買するうちに

the Dutch East India Company unknowingly invented the world's first stock market.

オランダ東インド会社は知らぬ間に世界初の株式市場を生み出した

Since then, companies have been collecting funds from willing investors

以来、企業は意欲ある投資家から資金を集めてきた

to support all kinds of businesses.

あらゆる事業を支えるために

And today, the stock market has schools, careers,

今や株式市場には専門の学校やキャリアがあり

and even whole television channels dedicated to understanding it.

それを解説するテレビチャンネルまで存在する

But the modern stock market is significantly more complicated

だが現代の株式市場は当初の姿よりも

than its original incarnation.

はるかに複雑になっている

So how do companies and investors use the market today?

では今日、企業と投資家はどう市場を利用しているのか

where any company or individual who believes the business could be profitable

事業が儲かると信じる企業や個人なら誰でも

might buy a stock.

株を買うことができる

Buying stocks makes those investors partial owners in the business.

株を買うと、その投資家は会社の一部の所有者になる

Their investment helps the company to grow,

その投資は会社の成長を助け

and as it becomes more successful,

会社が成功を収めるにつれて

more buyers may see potential and start buying stocks.

可能性を見出した買い手がさらに株を買い始める

As demand for those stocks increases, so does their price,

株への需要が高まれば価格も上がり

increasing the cost for prospective buyers

これから買う人のコストは増える一方

and raising the value of the company's stocks people already own.

既に株を持つ人にとってはその価値が上がる

For the company, this increased interest helps fund new initiatives

会社にとって、この注目の高まりは新事業の資金源になり

and also boosts its overall market value

全体としての時価総額も押し上げる

by showing how many people are willing to invest in their idea.

どれだけの人がそのアイデアに投資したいかを示すことで

However, if for some reason a company starts to seem less profitable,

しかし何らかの理由で会社の収益性が疑われ始めると

the reverse can also happen.

逆のことも起こり得る

If investors think their stock value is going to decline,

投資家が株価の下落を予想すれば

they'll sell their stocks with the hopes of making a profit

利益を確保しようと株を売りに出す

before the company loses more value.

会社の価値がさらに下がる前にだ

As stocks are sold and demand for the stock goes down,

株が売られ需要が減っていくと

the stock price falls,

株価は下落し

and with it, the company's market value.

それに伴い会社の時価総額も下がる

This can leave investors with big losses,

これは投資家に大きな損失をもたらしかねない

unless the company starts to look profitable again.

会社が再び有望に見え始めない限りは

This seesaw of supply and demand is influenced by many factors.

この需給のシーソーは多くの要因に左右される

Companies are under the unavoidable influence of market forces,

企業は市場の力から逃れられない

such as the fluctuating price of materials,

材料価格の変動や

changes in production technology,

生産技術の変化

and the shifting costs of labor.

人件費の変動などだ

Investors may be worried about changes in leadership,

投資家は経営陣の交代を懸念することもあれば

bad publicity,

悪い評判

or larger factors like new laws and trade policies.

新法や貿易政策といった大きな要因を気にすることもある

And of course, plenty of investors are simply ready to sell valuable stocks

もちろん単に値上がりした株を売って

and pursue personal interests.

自分の目的に使いたい投資家も大勢いる

All these variables cause day-to-day noise in the market,

こうした要素すべてが日々の市場のノイズを生み

which can make companies appear more or less successful.

会社の好不調を実際以上に見せることがある

And in the stock market, appearing to lose value

株式市場では価値が下がって見えるだけで

often leads to losing investors, and in turn, losing actual value.

投資家が離れ、結果として本当に価値を失うことも多い

Human confidence in the market has the power to trigger everything

市場に対する人々の信頼は、あらゆることの引き金になり得る

from economic booms to financial crises.

好景気から金融危機まで

And this difficult-to-track variable

そしてこの捉えにくい変数こそが

is why most professionals promote reliable long-term investing

多くの専門家が着実な長期投資を勧める理由であり

over trying to make quick cash.

短期で稼ごうとするより勧められている

However, experts are constantly building tools

とはいえ専門家は常にツールを開発し続けている

in efforts to increase their chances of success

成功の確率を上げようと

in this highly unpredictable system.

この予測困難な仕組みの中でだ

But the stock market is not just for the rich and powerful.

だが株式市場は富裕層や権力者だけのものではない

With the dawn of the internet,

インターネットの登場により

everyday investors can buy stocks in many of the exact same ways

一般の投資家も大口投資家とほぼ同じ方法で

a large investor would.

株を買えるようになった

And as more people educate themselves about this complex system,

この複雑な仕組みを学ぶ人が増えるにつれ

they too can trade stocks,

誰もが株を取引し

support the businesses they believe in,

信じる事業を応援し

and pursue their financial goals.

自分の資産目標を追求できるようになる

The first step is getting invested.

最初の一歩は、投資を始めることだ

on life in ancient Mesopotamia

古代メソポタミアの暮らしについて