Valuations go down. Things equalize.

风险估值走低，事情趋于平衡。

All of this requires accurate valuations.

这一切都依赖于精确的估值。

Just how optimistic are these valuations?

这些估值定价到底有多么乐观呢？

Sharespost also aided some of the valuations.

Share spost也辅助了部分估价工作。

In the process, valuations now look toppy.

在这个过程中，REIT的价值已经到顶。

Stagflation is bad for stock market valuations.

滞涨不利于股市估值。

And that money has been driving up their valuations.

这些资金一直在抬高这些公司的估值。

The surveyors arrived at widely different valuations.

鉴定人作出了十分不同的估价。

The valuations were lower than expected, however.

然而评价比预期的要低。

With stocks up this year, valuations already are high.

由于今年股市持续上涨，估值已经很高。

A lot of young companies are receiving wild valuations.

许多年轻的公司正接受疯狂的估价。

Those higher valuations have duly led to lower returns.

而那些高估价已经导致低收益了。

Valuations of European utilities are now very high.

目前收购欧洲公用事业公司的门槛还非常高。

Another sign of bubbles is a change in the basis of valuations.

另外一个泡沫的信号是对估值方式的改变。

Eventually, however, equity valuations reached very high levels.

不过，最终股票估值到了很高的水平。

You have to turn to relative valuations to make shares look cheap.

若要使股价看起来便宜，你就不得不求助于相对估值法了。

At current valuations, just beating expectations might not be enough.

以目前的估值来看，仅仅好于预期可能还不够。

There is no evidence of a conspiracy to post unreasonably low valuations.

没有证据说明，发布不合理的低估值是个阴谋。

Many of those companies deserve high valuations, but not all of them.

这些公司多数估值颇高，但也并非全部如此。

The most important factor by far in high valuations is public policy.

到目前为止在市场高估值上起重要作用的是国家政策。

Caveat to Lesson No. 1: Extreme valuations are sometimes hard to recognize.

第1课警告：极端估值有时很难辨认。

Some transactions are fraudulent, and there is not much regulation of valuations.

有些交易是虚假的，估价方面也不是很有章程。

Some emerging stock valuations, especially of state-owned Banks, may be inflated.

一些新型股市估值，特别是一些国有银行，可能被高估。