台积电基本面强劲，但以65倍CAPE衡量估值偏高，该倍数是否合理存疑。
逐段跳播
而在台湾，有这么一家了不起的公司。它是一家非常好的公司。TSMC 目前占该指数的 13%。它已从两年前的 4.5% 上升到如今的 13%。
And in Taiwan, you have this amazing company. It's a very good company. TSMC currently makes up 13% of the index. It has risen from 4.5% two years ago to 13% today.
它的市盈率（经周期调整后）为 65 倍。我认为这是一个非常高的数字。但我认为这并不局限于 TSMC。
It is trading at 65 times its cyclically adjusted price-to-earnings ratio. I think this is a very high number. But I don't think it's limited to TSMC.
我不是专家，但我认为在许多人眼中，TSMC 是一家非常强大的公司。这一点毫无疑问。但如果它值 65 倍那么多，谁知道呢？我不这么认为，但这只是我的个人看法。
I'm no expert, but I think that in the eyes of many, TSMC is a very strong company. There is no doubt about that. But if it's worth 65 times as much, who knows? I don't think so , but that's my personal opinion.
这个频道对 $TSM 的历次判断
The Acquirers Podcast 在这只股票上只有这一条判断。