1. Short-selling shares in a trough, thus deepening the trough, and betting that frothy shares will become frothier . 在谷底卖空股票,从而造成股票继续下跌,并押注于充满泡沫的股票变得泡沫更丰富。
2. Germany looks cheap as well, and since our valuation benchmark goes back only to 1996 and so misses out a period when German house prices were frothier, may be cheaper still. 德国房价看似也不高,可能还会更低廉,因为我们的估值基准仅追溯至1996年,而德国房价的一段泡沫期就未被计算在内。