ÀúÊ·Êý¾ÝÏÔʾ£¬¾¡¹ÜÐÜÊÐÖÜÆÚµÚÒ»ÄêµÄϵø·ù¶È¸÷Ò죬ţÊÐÖÜÆÚ×îºóÒ»ÄêÖ®ºó£¬±êÆÕ500Ö¸Êýƽ¾ùϵø16%¡£GoldSilver.comÍøÕ¾×¨¼ÒMike MaloneyÈÏΪ£¬½ñÄ꽫ÊDZ»¸ß¹ÀµÄ¹É¼Û¿ªÊ¼ÏµøµÄÒ»Äê¡£Èç¹ûËûÊǶԵ쬹ÉÊÐϵø·ù¶È½«Áè¼ÝÀúʷƽ¾ùˮƽ£¬ÒòΪÕâÊÇÃÀ¹úÀúÊ·ÉÏÁ¬ÐøÊ±¼äµÚ¶þ³¤µÄÅ£ÊС£
2017ÄêÎÞÒÉÊÇÃÀ¹ú¹ÉÊд´¼Í¼µÄÒ»Äꡣͬʱ£¬¾¡¹Ü¾ÀúÁËÎÞÊýµÄ×èÁ¦£¬»Æ½ðÔÚ2017ÄêÈÔÓв»Ë×µÄÌåÏÖ¡£µ«¶àÊýͶ×ÊÕß²¢Ã»ÓÐÌ«¶àµÄ¹Ø×¢»Æ½ð£¬ÒòΪËûÃǽ«¸ü¶àµÄ×ʽðͶÈëÁ˹ÉÊС£
µ«ÖªÃû½ðÈÚÊг¡×ÊÑ¶ÍøÕ¾GoldSilver¸ß¼¶¹ó½ðÊô·ÖÎöʦJeff ClarkÈ´ÌåÏÖ£¬Ëû±»¹ÉÊÐÅ£ÊеÄһЩÊý¾Ý¾ªµÃÄ¿µÉ¿Ú´ô£º
1£©2017Ä꣬µÀÇí˹¹¤ÒµÖ¸Êý´´71´Îиߣ¬Æä´´ÐÂ¸ßµÄÆµÂÊÁè¼ÝÒ»ÖÜÒ»´Î¡£
2£©ÔÚÆä½ü90ÄêµÄÀúÊ·ÉϵÚÒ»´Î£¬±êÆÕ500Ö¸ÊýÔÚ2017Äêÿ¸öÔ¶¼ÉÏÕÇ¡£´ÓÀúÊ·¾Ñé¿´£¬Ö»ÓÐ4ÄêÊÇÿÄêÉÏÕÇ11¸öÔ¡£
3£©±êÆÕ500Ö¸ÊýÔÚ2017Äê×î´óµÄ»Øµ÷ÊÇ2.8%£¬ÊÇ×Ô1995ÄêÒÔÀ´×îСµÄ¡£
4£©×Ô2018Ä꿪ʼ£¬±êÆÕ500Ö¸ÊýÔÚ5¸ö½»Ò×ÈÕÄÚÿÌì¶¼ÉÏÕÇ£¬Ã¿Ìì¶¼´´Àúʷиߡ£ÉÏÒ»´Î±êÆÕ500Ö¸Êý¿ªÄêÖÁÉÙ5´ÎÁ¬Ðø´´Ð¸ßÊÇÔÚ1964Äê¡£

ÖÜÆÚµ÷ÕûºóµÄÊÐÓ¯ÂÊ£¨Cyclically Adjusted Price-Earnings£©Èç½ñÒѾÓë1999ÄêˮƽÏ൱£¬ÊÇÁè¼Ý100ÄêÀ´µÄµÚ¶þ¸ßˮƽ£¬½ö´ÎÓÚ1929ÄêµÄ×î¸ßˮƽ¡£
ÄÇô£¬¹ÉÊÐÅ£ÊÐÖÜÆÚ¼´½«½áÊøÁËÂð£¿Jeff ClarkÌåÏÖ£¬ÕâÕýÊǹÉÊнӽüÆä·åֵʱµÄÅÝÄÌåÏÖ¡£Èç¹û2017ÄêµÄ½áÊøÊÇÕâ´ÎÅ£ÊÐÖÜÆÚµÄ¼«µã£¬Æ¾¾ÝÀúÊ·¾ÑéÀ´Ëµ£¬½ñÄêµÄ¹ÉÊн«·¢Éú£¿
Jeff ClarkÕÒ³öÁ˱êÆÕ500Ö¸Êý×Ô1900ÄêÒÔÀ´ËùÓеÄÅ£ÊÐÖÜÆÚÊý¾Ý£¬È»ºóÊÓ²ìÁËÿһ¸öÅ£ÊÐÖÜÆÚ½áÊøºóµÄµÚÒ»Äê·¢ÉúÁËʲô¡£»»¾ä»°Ëµ£¬ÔÚÅ£ÊÐÖÜÆÚµÄ×îºóÒ»Äê½áÊøºó£¬ÐÜÊÐÖÜÆÚµÄµÚÒ»Äê¹ÉÊлᷢÉúʲô£¿Èç¹û2017ÄêÊÇÅ£ÊÐÖÜÆÚµÄáÛ·åµÄ»°£¬ÕâЩÊý¾Ý½«ºÜÊÇÓÐÓá£
ÏÂͼΪţÊÐÖÜÆÚ½áÊøºó£¬ÐÜÊÐÖÜÆÚµÚÒ»Äê¹ÉÊеÄÌåÏÖ£º

´ÓÉÏͼ¿ÉÒÔ¿´³ö£¬¾¡¹ÜÐÜÊÐÖÜÆÚµÚÒ»ÄêµÄϵø·ù¶È¸÷Ò죬ţÊÐÖÜÆÚµÄ×îºóÒ»ÄêÖ®ºó£¬±êÆÕ500Ö¸Êýƽ¾ùϵø16%¡£ÁíÓÐÒ»µãÐèҪעÒ⣬ÄǾÍÊÇ£ºÖ»ÓÐ4ÄêÊÇϵø1λÊý£¬ÆäËüÄê·Ý¶¼ÊÇϵøÁ½Î»Êý¡£
GoldSilver.comÍøÕ¾×¨¼ÒMike MaloneyÈÏΪ£¬½ñÄ꽫ÊDZ»¸ß¹ÀµÄ¹É¼Û¿ªÊ¼ÏµøµÄÒ»Äê¡£Èç¹ûËûÊǶԵģ¬Ïµø·ù¶È½«Áè¼ÝÀúʷƽ¾ùˮƽ£¬ÒòΪÕâÊÇÃÀ¹úÀúÊ·ÉÏÁ¬ÐøÊ±¼äµÚ¶þ³¤µÄÅ£ÊС£
ÄÇô£¬ÔÚÕâÑùµÄÇé¿öÏ£¬»Æ½ð¿ÉÄÜ»áÈçºÎÌåÏÖ£¿Jeff ClarkÌåÏÖ£¬“´ËǰÍþÄá˹ÍÅÌå¾ÍÏÔʾ¹ý£¬»Æ½ðÔÚ¶àÊý¹ÉÊдó±ÀÅÌʱÆð»º³å×÷Óᣔ
“ÍþÄá˹ÍÅÌåÈÏΪ£¬ÖØÒªµÄת±ä¼´½«µ½À´£¬²»½öÔÚ±»¸ß¹ÀµÄ¹ÉÊС¢Õ®Êкͷ¿µØ²úÊг¡£¬¶øÇÒÔÚ±»È«ÇòÐí¶àÑëÐйÙÔ±ÀÄÓÃְȨµÄÇ®±ÒÁìÓò¡£Ò»µ©ÕâÒ»Àú³Ì¿ªÊ¼£¬Ö÷Á÷Éç»á½«±³ÆúÈËÀà×î¹ÅÀϵÄ×î¹ÅÀϵĹ«¹²Ç®±ÒÐÎʽ£¬ÍþÄá˹ÍÅÌåµÄÄÍÐĺÍÔ¶¼û׿ʶ½«ÊÜÒæ¡£”
Jeff Clark×îºóÌåÏÖ£¬“MikeºÍÎÒ¼ÌÐøÂò½øÊµÎï»Æ½ðºÍ°×Òø¡£”
ÎÄÕÂÀ´Ô´£º±¾ÎÄÀ´Ô´ÓëÍøÂç£¬×ªÔØ×Ô»ãÍ¨Íø£¬°æÈ¨ÊôÓÚÔ×÷Õß
¡¾±¾ÎÄ¿´·¨²»´ú±íÍþÄá˹¹Ù·½ÍøÕ¾µÄ¿´·¨£¬½ö×÷Ϊ¶ÁÕߵIJο¼ÐÅÏ¢¡£¡¿

