去年一堆价值投资者喊估值泡沫，但之后一年标普500公司的利润不断刷新纪录，让估值反而变便宜了。 Valuations were wildly off. But in exactly the opposite way that they had proclaimed they’d be. Corporate profits have roared higher in such a spectacular fashion that those valuations -- when analyzed against the actual earnings reported a year later -- were almost 20% cheaper than analysts thought when investors began piling into the S&P 500 Index in April 2020.