股市是向前看的，反映的是未来预期税后收益的现值。
The stock market is forward looking, reflecting the current value of future expected after-tax profits.
资产应该跌回正常价值，即未来收益的折现值。
Assets would have fallen to their normal worth, the present discounted value of their future returns.
是企业未来收益现值超过行业正常盈利水平的数额。
The present value of expected future earnings of a business in excess of the earnings normally realized in the industry.
当市场是完备时，任意衍生证券的现值等于该证券未来收益折现值在等价鞅测度下的数学期望。
When the market is complete, the present value of any derivative security is equivalent to mathematical expectation of its underlying profit discount value under equivalent martingale measurement.
一般财务理论认为，企业价值应该与企业未来资本收益的现值相等。
General financial theories hold that the value of a business should be in conformity with the future capital gains of the business.
到期收益率是一种按复利计算的收益率，未来现金流入的现值等于债券买入时的贴现率。
It is the yield calculated by compounding. The present of future cash flow equals to the discount rate buying the bonds.
到期收益率是一种按复利计算的收益率，未来现金流入的现值等于债券买入时的贴现率。
It is the yield calculated by compounding. The present of future cash flow equals to the discount rate buying the bonds.
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