来自《耶鲁大学开放课程：金融理论 第1集 第1集》

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  Then you've got another up and a down.
  再一轮的上升 下降
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  Then you've another up and a down.
  再一轮的上升 下降
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  Four times the same thing has happened.
  循环了4次
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  Now this could be just meaningless accidents,
  你可以解释其为毫无意义的偶然事件
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  but it will turn out that the demography of the country,
  但实际上该循环反映了国家的人口状况
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  the baby boom cycle, we haven't had just one baby
  我们不是仅仅有一次婴儿潮
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  boom we've had four of them, so this cycle of stock prices,
  正如股价循环 我们有四次人口高峰
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  which they're each time a generation long,
  每次的高峰都有一代人年龄的长短
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  happens to correspond exactly to the rise,
  正好对应了每一次股指循环的上升期
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  the different age distribution in the population.
  上升期的长短和人口的年龄分布是有关的
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  So another theory of the stock market,
  这个第二个理论
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  which wouldn't have been entertained by these original
  不会遭致最初的金融学家异议