On the best long-term measure, the cyclically adjusted price-earnings ratio, Wall Street looks overvalued on a multiple of 21.9, some 33% above the historic average.

用最好的衡量长期收益的工具——周期性调整市盈率——衡量，华尔街金融市场的溢价为21.9倍，高于历史均值大约33%。

youdao

You may think that serenely stable share price suggests Goldman is a safe haven; its low price-earnings ratio tells a different story.

你也许以为，平稳的股价表明高盛是安全的避风港。但是从它的低市盈率可以看出不同的端倪。

youdao

He points out that American equities are significantly overvalued on the best long-term measure, the cyclically adjusted price-earnings ratio which smooths profits over ten years.

他指出最优的长期预测工具，周期调整市盈率由于将过去十年间的利润进行了平滑，现在已显著高估了美国股票的价格。

youdao

We had a similar, even higher price-to-earnings ratio of about forty-six at the peak in 2000 and it corrected way down.

000年时我们的市盈率甚至更高,达到了46,后来经过修正降低了

耶鲁公开课 - 金融市场课程节选

When the price-earnings ratio gets high like it did in 1929 people get antsy.

当市盈率上升,如1929年,人们焦躁不安

耶鲁公开课 - 金融市场课程节选

Here is the price-earnings ratio for the U.S. stock market from 1881 to the present-- this is also on that spreadsheet that you have on the website.

这是美国股票市场的市盈率,从1881年至今,这份数据也在网站上的电子数据表上

耶鲁公开课 - 金融市场课程节选

But it is also up about 27% this year and trades at a hefty price-to-earnings ratio of 22 times.

FORBES: Betting On The House

Currently, the twelve-month price-to-earnings ratio stands at 11.2 times compared to a 20-year average of 12.1 times.

FORBES: Green-Light For Investors In The Netherlands

Penn National has an estimated 12-month price-to-earnings ratio of 24 and a 15% annualized long-term earnings growth forecast.

FORBES: Forbes Global 2000 Contenders