你相信华尔街预示牛市的谬论吗？

Believe Wall Street's nonsense about a new bull market ahead?

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在重大的底部时，很少有人持牛市的观点。

Also there are few bulls at major bottoms.

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人们对牛市的出现寄予厚望，但经济数据却令人大失所望。

The economic data have been a severe disappointment to the bulls.

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And this is in the context of one of the greatest bull markets ever.

这就是,史上最旺牛市之一的来龙去脉

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You certainly have to measure the bull market, from 1982 to 2000 and some people would say that 2000 was just a blip and we're still in this bull market.

当然估量一下这段,从1982年到2000年的牛市,有些人会说,2000不是结束,我们仍处于牛市中

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But regardless of how you measure it, for a full half-dozen years, in the midst of this bull market, colleges and universities were over-allocated to fixed income relative to where they had been in June of 1987.

但不管你怎么算,整整六年时间,处于牛市之中,大学的基金,由于1987年6月那次崩盘的影响,过度投资于固定收益债券

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