The '70s were a terrible time to invest in stocks, a bull market had started in 1982.
0年代股票投资一直萎靡不振，牛市在1982年才露端倪。
We started by screening for stocks that had a lower price-to-earnings valuation than the S&P 500, which trades at a 17.9 multiple of estimated 2015 earnings. But we didn't stop there.
我们首先筛选了那些市盈率估值低于标普500指数的股票（目前，标普500指数的市盈率为2015年预期收益的17.9倍），但是我们并未止步于此。
We started by screening for stocks that had a lower price-to-earnings valuation than the S&P 500, which trades at a 17.9 multiple of estimated 2015 earnings. But we didn't stop there.
我们首先筛选了那些市盈率估值低于标普500指数的股票（目前，标普500指数的市盈率为2015年预期收益的17.9倍），但是我们并未止步于此。
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