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I tested this notion by applying it to the Dow Jones Industrial Average /quotes/comstock/10w!i:dji/delayed ( INDU 10,572,-12.09,-0.11%) back to 1896, when this benchmark was created.

为了了解这一指标是否成立，我将道琼斯工业平均指数1896年创建以来一百多年的数据输入了我电脑的统计软件。

And, though he wasn't talking about investing, he very well could have been: The relentless pursuit of a "perfect" market timing system can lead to an inferior result./quotes/comstock/21z!i1:in\x SPX

不必说，伏尔泰的感慨绝非针对投资所发出，不过他的话确实也像是在描述投资的故事：许多人都在不懈地追求所谓"完美"的随势操作系统，但是这种做法却很可能会将他们自己卷入一场灾难。

On the contrary, he continues to recommend that his clients own the Ultrashort Lehman 20+ Year Treasury exchange traded fund /quotes/comstock/13*!

事实上，他近期以来一直在持续建议自己的订户买进Ultrashort Lehman 20+ Year Treasury，这一ETF产品双倍做空20年期国债价格。

The commentators drawing this ominous lesson appear to have a strong case in the 10-year performance of the Nasdaq Composite Index /quotes/comstock/10y!

持有此种观点的人们，他们最重要的参照物就是纳斯达克综合指数。

If a similar script were to get played out this time around, the Dow Jones Industrial Average /quotes/comstock/10w!

这可就是一个不折不扣的凶兆了，因为1974年至1982年那样的行情足以让任何一位投资者感到沮丧。

Yahoo Inc./quotes/comstock/15*!

在2000年3月时市值最大的互联网企业雅虎公司Yahoo Inc。

Quotes/comstock/10w!i:dji/delayed DJIA 10,167,+123.56,+1.23%Probably not, if you're like most investors.

如果你和其他大多数投资者一样，那么你恐怕是会做出否定的答复。

It wrung a lot of the bullish excesses out of investment advisers' moods./quotes/comstock/10w!i:dji/delayed INDU

由于近期的市场震荡，投资通讯编辑当中原本是过分的看涨情绪现在已经变得正常了不少。

Amazon.com Inc./quotes/comstock/15*!

亚马逊公司Amazon.com Inc。

Indeed, a little more than an hour before the close on Thursday, when the Dow Jones Industrial Average /quotes/comstock/10w!i:dji/delayed ( INDU 10,785,+404.71,+3.90%) was down nearly 1,000 points, fear and panic were so thick you could cut them with the proverbial knife.

具体说来，在周四收盘之前大约一个小时多一点的时候，即道琼斯工业平均指数下跌了近1000点之际，恐惧和慌乱情绪极端浓重，就像俗话说的，这些情绪近乎固体，可以用刀子来切开。

But we don't care about Battlegrounds.

但我们并不在乎沙场中的显露。

Ah! don't mention it, the butcher's shop is a horror.

啊！不用提了。提到肉，真是糟透了。