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%。
The index declined 0.2 percent in the last trading session before the Christmas holiday after its price-earnings multiple rose to a six-month high.
圣诞假期前，标准普尔500指数在最后一个交易日下跌0.2%，该指数市盈率升至六个月来新高。
The industry's giants trade on a discounted price-earnings multiple, reflecting fears that the days of blockbuster drugs are over.
医药产业巨头将市场盈利率加倍，然后打折出售，这表明他们担心药物风靡的时代已经完结。
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