sort of takes the cyclicality out of earnings and you can see over history how that multiple has varied.

一定程度上在收益上避免了周期性的,而且你可以看到随着历史的进程,这个倍数发生了多大的变化。

耶鲁公开课 - 金融市场课程节选

Professor Shiller, in his books, he's got current multiple of trailing ten-year earnings.

席勒教授在他的书里，讲到他已经获得了比过去十年多几倍的现金收入。

耶鲁公开课 - 金融市场课程节选