Indeed, the intermittent over-valuation of entire economic sectors – recall the dot-com bubble from a decade ago – indicates that financial markets are often excessively focused on the long term. Many firms during the bubble had no hope of making enough money in the short run to justify their sky-high stock prices.
确实，对整个经济领域的间歇性高估——回想一下十年前的互联网泡沫——表明金融市场经常会过分关注长期利益。很多泡沫时代的公司根本不可能在短期内赚足够的钱来证明其高高在上的股票价格。