Sentences with phrase «by cyclical variations»

First, the «returns on equities» here are typically taken to be earnings yields, which as we've frequently noted, are affected by cyclical variations in profit margins that make them notoriously poor indicators of long - term prospective returns (see Two Point Three Sigmas Above the Norm and Margins, Multiples and the Iron Law of Valuation).

Not exact matches

How these cyclical climate take place is still unknown, but they «are most likely caused by variations in the solar wind and associated magnetic fields that affect the flux of cosmic rays incident on cloudiness, and thereby control the amount of sunlight reaching the earth's surface and thus the climate.»

I've long wondered how those arguing that the recent decline in arctic sea is natural cyclical variation can explain the long history of failed attempts to explore the northwest passage by sea.

Although it is clear that further attention is required in defining and characterizing the aspects of this variation (e.g. frequency and amplitude [44,65]-RRB- that lead to differences in species responses, a more immediate empirical challenge is to characterize and separate the effects of periodic, stochastic and / or cyclical natural variations [61] from directional change imposed by long - term climatic forcing.