来自《耶鲁大学开放课程：金融市场 第6集 第6集》

• 
  
  it has never missed a year.
  从未间断
• 
  
  Maybe some companies have missed a year,
  可能有些公司曾在某年未支付股利
• 
  
  like Berkshire Hathaway or Microsoft,
  比如伯克希尔哈撒韦或微软
• 
  
  but the whole aggregate has never missed a year.
  但总体上 这些公司在支付股利上从未间断
• 
  
  This is the earnings report on the company.
  这是公司的收益报告
• 
  
  It's all per share so this is per share earnings.
  按每股计算 所以这是每股收益
• 
  
  I have here the Consumer Price Index in this column
  这一列是消费者价格指数
• 
  
  and then I've got long-term interest rates
  同时我有长期利率的数据
• 
  
  and I can convert it into a real price
  通过除以消费者价格指数
• 
  
  by dividing by the Consumer Price Index.
  我可以把它转换成实际价格
• 
  
  This is the change in the real price.
  这是实际价格的变化
• 
  
  I don't--it's between this year and the next year.
  我不会...它是当年与次年之间的变化