Stocks are overvalued, and US stocks are particularly overvalued. Their prices are unusually high in comparison to sales, earnings, the value of their asset books, and relative to gross domestic product (that last is Warren Buffett’s favourite measure).
股票被高估，美國股票尤其被高估。從銷售額、利潤、資產賬簿價值以及相對於國內生產毛額(GDP)的比率（最後這個指標是華倫•巴菲特(Warren Buffett)最喜歡的衡量標準）來看，它們的價格高得異常。
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