{"id":15111,"date":"2022-07-12T23:56:00","date_gmt":"2022-07-12T15:56:00","guid":{"rendered":"https:\/\/www.granitefirm.com\/blog\/?p=15111"},"modified":"2025-10-16T19:38:22","modified_gmt":"2025-10-16T11:38:22","slug":"%e5%85%a8%e7%90%83%e6%9c%80%e5%a4%a7%e9%8a%80%e8%a1%8c%e6%91%a9%e6%a0%b9%e5%a4%a7%e9%80%9a","status":"publish","type":"post","link":"https:\/\/www.granitefirm.com\/blog\/blog\/2022\/07\/12\/%e5%85%a8%e7%90%83%e6%9c%80%e5%a4%a7%e9%8a%80%e8%a1%8c%e6%91%a9%e6%a0%b9%e5%a4%a7%e9%80%9a\/","title":{"rendered":"\u5168\u7403\u6700\u5927\u9280\u884c\u6469\u6839\u5927\u901a\uff08JPMorgan Chase\uff09\u662f\u5982\u4f55\u8cfa\u9322\u7684\uff1f"},"content":{"rendered":"\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"\u986f\u793a\/\u96b1\u85cf\u5167\u5bb9\u76ee\u9304\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #ffffff;color:#ffffff\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #ffffff;color:#ffffff\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2022\/07\/12\/%e5%85%a8%e7%90%83%e6%9c%80%e5%a4%a7%e9%8a%80%e8%a1%8c%e6%91%a9%e6%a0%b9%e5%a4%a7%e9%80%9a\/#%E6%91%A9%E6%A0%B9%E9%9B%86%E5%9C%98%E7%9A%84%E6%AD%B7%E5%8F%B2\" >\u6469\u6839\u96c6\u5718\u7684\u6b77\u53f2<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2022\/07\/12\/%e5%85%a8%e7%90%83%e6%9c%80%e5%a4%a7%e9%8a%80%e8%a1%8c%e6%91%a9%e6%a0%b9%e5%a4%a7%e9%80%9a\/#%E6%91%A9%E6%A0%B9%E9%87%91%E8%9E%8D%E5%B8%9D%E5%9C%8B\" >\u6469\u6839\u91d1\u878d\u5e1d\u570b<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2022\/07\/12\/%e5%85%a8%e7%90%83%e6%9c%80%e5%a4%a7%e9%8a%80%e8%a1%8c%e6%91%a9%e6%a0%b9%e5%a4%a7%e9%80%9a\/#%E5%92%8C%E6%91%A9%E6%A0%B9%E9%8A%80%E8%A1%8C%E5%88%86%E5%AE%B6\" >\u548c\u6469\u6839\u9280\u884c\u5206\u5bb6<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2022\/07\/12\/%e5%85%a8%e7%90%83%e6%9c%80%e5%a4%a7%e9%8a%80%e8%a1%8c%e6%91%a9%e6%a0%b9%e5%a4%a7%e9%80%9a\/#%E7%BE%8E%E5%9C%8B%E9%97%9C%E9%8D%B5%E7%9A%84%E6%B3%95%E8%A6%8F%E8%AE%8A%E5%8B%95\" >\u7f8e\u570b\u95dc\u9375\u7684\u6cd5\u898f\u8b8a\u52d5<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2022\/07\/12\/%e5%85%a8%e7%90%83%e6%9c%80%e5%a4%a7%e9%8a%80%e8%a1%8c%e6%91%a9%e6%a0%b9%e5%a4%a7%e9%80%9a\/#%E6%A0%BC%E6%8B%89%E6%96%AF-%E6%96%AF%E8%92%82%E6%A0%BC%E7%88%BE%E6%B3%95%E6%A1%88\" >\u683c\u62c9\u65af-\u65af\u8482\u683c\u723e\u6cd5\u6848<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2022\/07\/12\/%e5%85%a8%e7%90%83%e6%9c%80%e5%a4%a7%e9%8a%80%e8%a1%8c%e6%91%a9%e6%a0%b9%e5%a4%a7%e9%80%9a\/#%E6%A0%BC%E6%8B%89%E6%96%AF-%E6%96%AF%E8%92%82%E6%A0%BC%E7%88%BE%E6%B3%95%E6%A1%88%E8%A2%AB%E5%BB%A2%E6%AD%A2\" >\u683c\u62c9\u65af-\u65af\u8482\u683c\u723e\u6cd5\u6848\u88ab\u5ee2\u6b62<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2022\/07\/12\/%e5%85%a8%e7%90%83%e6%9c%80%e5%a4%a7%e9%8a%80%e8%a1%8c%e6%91%a9%e6%a0%b9%e5%a4%a7%e9%80%9a\/#%E7%B0%A1%E4%BB%8B\" >\u7c21\u4ecb<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2022\/07\/12\/%e5%85%a8%e7%90%83%e6%9c%80%e5%a4%a7%e9%8a%80%e8%a1%8c%e6%91%a9%e6%a0%b9%e5%a4%a7%e9%80%9a\/#%E6%91%A9%E6%A0%B9%E5%A4%A7%E9%80%9A%E7%9A%84%E6%AD%B7%E5%8F%B2\" >\u6469\u6839\u5927\u901a\u7684\u6b77\u53f2<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2022\/07\/12\/%e5%85%a8%e7%90%83%e6%9c%80%e5%a4%a7%e9%8a%80%e8%a1%8c%e6%91%a9%e6%a0%b9%e5%a4%a7%e9%80%9a\/#%E6%91%A9%E6%A0%B9%E5%A4%A7%E9%80%9A%E7%9A%84%E5%9C%B0%E4%BD%8D%E6%9C%89%E5%A4%9A%E7%89%B9%E6%AE%8A%EF%BC%9F\" >\u6469\u6839\u5927\u901a\u7684\u5730\u4f4d\u6709\u591a\u7279\u6b8a\uff1f<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2022\/07\/12\/%e5%85%a8%e7%90%83%e6%9c%80%e5%a4%a7%e9%8a%80%e8%a1%8c%e6%91%a9%e6%a0%b9%e5%a4%a7%e9%80%9a\/#%E6%91%A9%E6%A0%B9%E5%A4%A7%E9%80%9A%E5%9C%A8%E5%85%A8%E7%90%83%E9%87%91%E8%9E%8D%E7%95%8C%E6%9C%89%E6%8C%87%E6%A8%99%E4%BD%9C%E7%94%A8\" >\u6469\u6839\u5927\u901a\u5728\u5168\u7403\u91d1\u878d\u754c\u6709\u6307\u6a19\u4f5c\u7528<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2022\/07\/12\/%e5%85%a8%e7%90%83%e6%9c%80%e5%a4%a7%e9%8a%80%e8%a1%8c%e6%91%a9%e6%a0%b9%e5%a4%a7%e9%80%9a\/#%E6%91%A9%E6%A0%B9%E5%A4%A7%E9%80%9A%E7%9A%84%E5%9F%B7%E8%A1%8C%E9%95%B7\" >\u6469\u6839\u5927\u901a\u7684\u57f7\u884c\u9577<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2022\/07\/12\/%e5%85%a8%e7%90%83%e6%9c%80%e5%a4%a7%e9%8a%80%e8%a1%8c%e6%91%a9%e6%a0%b9%e5%a4%a7%e9%80%9a\/#%E6%91%A9%E6%A0%B9%E5%A4%A7%E9%80%9A%E7%9A%84%E7%87%9F%E9%81%8B\" >\u6469\u6839\u5927\u901a\u7684\u71df\u904b<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2022\/07\/12\/%e5%85%a8%e7%90%83%e6%9c%80%e5%a4%a7%e9%8a%80%e8%a1%8c%e6%91%a9%e6%a0%b9%e5%a4%a7%e9%80%9a\/#%E4%B8%BB%E8%A6%81%E4%BD%B5%E8%B3%BC%E5%8F%B2\" >\u4e3b\u8981\u4f75\u8cfc\u53f2<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2022\/07\/12\/%e5%85%a8%e7%90%83%e6%9c%80%e5%a4%a7%e9%8a%80%e8%a1%8c%e6%91%a9%e6%a0%b9%e5%a4%a7%e9%80%9a\/#%E4%B8%BB%E8%A6%81%E6%A5%AD%E5%8B%99\" 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href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2022\/07\/12\/%e5%85%a8%e7%90%83%e6%9c%80%e5%a4%a7%e9%8a%80%e8%a1%8c%e6%91%a9%e6%a0%b9%e5%a4%a7%e9%80%9a\/#%E5%B8%82%E5%A0%B4%E7%9A%84%E4%BC%B0%E5%80%BC\" >\u5e02\u5834\u7684\u4f30\u503c<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2022\/07\/12\/%e5%85%a8%e7%90%83%e6%9c%80%e5%a4%a7%e9%8a%80%e8%a1%8c%e6%91%a9%e6%a0%b9%e5%a4%a7%e9%80%9a\/#%E9%81%8E%E5%8E%BB%E5%8D%81%E5%B9%B4%E7%9A%84%E8%82%A1%E5%83%B9%E8%A1%A8%E7%8F%BE\" >\u904e\u53bb\u5341\u5e74\u7684\u80a1\u50f9\u8868\u73fe<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-19\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2022\/07\/12\/%e5%85%a8%e7%90%83%e6%9c%80%e5%a4%a7%e9%8a%80%e8%a1%8c%e6%91%a9%e6%a0%b9%e5%a4%a7%e9%80%9a\/#%E7%9B%B8%E9%97%9C%E6%96%87%E7%AB%A0\" >\u76f8\u95dc\u6587\u7ae0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-20\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2022\/07\/12\/%e5%85%a8%e7%90%83%e6%9c%80%e5%a4%a7%e9%8a%80%e8%a1%8c%e6%91%a9%e6%a0%b9%e5%a4%a7%e9%80%9a\/#%E9%87%8D%E8%A6%81%E8%81%B2%E6%98%8E\" >\u91cd\u8981\u8072\u660e<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E6%91%A9%E6%A0%B9%E9%9B%86%E5%9C%98%E7%9A%84%E6%AD%B7%E5%8F%B2\"><\/span>\u6469\u6839\u96c6\u5718\u7684\u6b77\u53f2<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E6%91%A9%E6%A0%B9%E9%87%91%E8%9E%8D%E5%B8%9D%E5%9C%8B\"><\/span>\u6469\u6839\u91d1\u878d\u5e1d\u570b<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p><a href=\"https:\/\/www.morganstanley.com\/\" target=\"_blank\" rel=\"noopener\">\u6469\u6839\u58eb\u4e39\u5229\uff08Morgan Stanley\uff0c\u7f8e\u80a1\u4ee3\u78bc\uff1aMS\uff09<\/a>\u5728\u6295\u8cc7\u9280\u884c\u7684\u738b\u4f4d\uff0c\u6b63\u5982\u6469\u6839\u5927\u901a\u9280\u884c\u5728\u5546\u696d\u9280\u884c\u7684\u5fd7\u4f4d\uff0c\u5169\u8005\u90fd\u662f\u7121\u53ef\u53d6\u4ee3\u7684\u738b\u8005\uff1b\u6700\u91cd\u8981\u7684\u662f\u5169\u8005\u5176\u5be6\u662f\u7cfb\u51fa\u540c\u6e90\uff0c\u4f86\u81ea\u8fd1\u767e\u5e74\u524d\u7684\u6469\u6839\u91d1\u878d\u5e1d\u570b\u2014\u2014J. P. Morgan\u516c\u53f8\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E5%92%8C%E6%91%A9%E6%A0%B9%E9%8A%80%E8%A1%8C%E5%88%86%E5%AE%B6\"><\/span>\u548c\u6469\u6839\u9280\u884c\u5206\u5bb6<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u820a\u7684\u6469\u6839\u58eb\u4e39\u5229\uff08\u8acb\u53c3\u898b\u6211\u7684\u53e6\u4e00\u7bc7\u8cbc\u6587\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2025\/10\/08\/%e6%8a%95%e8%b3%87%e9%8a%80%e8%a1%8c%e4%b9%8b%e7%8e%8b%e6%91%a9%e6%a0%b9%e5%a3%ab%e4%b8%b9%e5%88%a9\/\">\u6295\u8cc7\u9280\u884c\u4e4b\u738b\u6469\u6839\u58eb\u4e39\u5229\uff08Morgan Stanley\uff09<\/a>\u300b\uff09\u6210\u7acb\u65bc1935\u5e749\u670816\u65e5\uff0c\u6700\u65e9\u7531J. P. Morgan\u516c\u53f8\u5408\u4f19\u4eba\u4ea8\u5229\u00b7\u65af\u7279\u5409\u65af\u00b7\u6469\u6839\uff08\u7d04\u7ff0\u00b7\u76ae\u723e\u9f90\u7279\u00b7\u6469\u6839\u4e4b\u5b6b\uff09\u4ee5\u53ca\u54c8\u7f85\u5fb7\u00b7\u58eb\u4e39\u5229\u7b49\u4eba\u5275\u8fa6\uff0c\u65b0\u516c\u53f8\u7684\u6210\u7acb\u662f\u61c9\u300a\u683c\u62c9\u65af-\u65af\u8482\u683c\u723e\u6cd5\u6848\u300b\u7684\u8981\u6c42\u2014\u2014\u5546\u696d\u9280\u884c\u548c\u6295\u8cc7\u9280\u884c\u696d\u52d9\u7684\u5fc5\u9808\u5206\u96e2\u3002<\/p>\n\n\n\n<p>\u6469\u6839\u5e1d\u570b\u81f3\u6b64\u88ab\u62c6\u70ba\u5169\u90e8\u4efd\uff1a\u8001\u6469\u6839\u58eb\u4e39\u5229\u548c\u6469\u6839\u9280\u884c\u3002\u6469\u6839\u9280\u884c\u5f8c\u4f86\u53c8\u5408\u4f75\u4e86\u5927\u901a\u9280\u884c\uff0c\u6210\u70ba\u4eca\u5929\u7684\u6469\u6839\u5927\u901a\u9280\u884c\u3002<\/p>\n\n\n\n<p>1941\u5e74\u6469\u6839\u58eb\u4e39\u5229\u8207\u7d10\u7d04\u8b49\u5238\u4ea4\u6613\u6240\u5408\u4f5c\uff0c\u6210\u70ba\u8a72\u8b49\u4ea4\u6240\u7684\u5408\u4f5c\u5925\u4f34\u3002<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"block-2291a344-e459-4be9-9010-9d62652e7a52\"><span class=\"ez-toc-section\" id=\"%E7%BE%8E%E5%9C%8B%E9%97%9C%E9%8D%B5%E7%9A%84%E6%B3%95%E8%A6%8F%E8%AE%8A%E5%8B%95\"><\/span>\u7f8e\u570b\u95dc\u9375\u7684\u6cd5\u898f\u8b8a\u52d5<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"block-1dc0f17e-33a9-46eb-ba90-8b362b730a7f\"><span class=\"ez-toc-section\" id=\"%E6%A0%BC%E6%8B%89%E6%96%AF-%E6%96%AF%E8%92%82%E6%A0%BC%E7%88%BE%E6%B3%95%E6%A1%88\"><\/span>\u683c\u62c9\u65af-\u65af\u8482\u683c\u723e\u6cd5\u6848<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p id=\"block-2ba7aec1-e317-4621-b27a-76b616611173\">1933\u5e74\u7f8e\u570b\u7d93\u6b77\u7d93\u6fdf\u5927\u856d\u689d\uff0c\u7f8e\u570b\u570b\u6703\u901a\u904e\u300a<a href=\"https:\/\/zh.wikipedia.org\/wiki\/%E6%A0%BC%E6%8B%89%E6%96%AF-%E6%96%AF%E8%92%82%E6%A0%BC%E5%B0%94%E6%B3%95%E6%A1%88\" target=\"_blank\" rel=\"noopener\">\u683c\u62c9\u65af-\u65af\u8482\u683c\u723e\u6cd5\u6848<\/a>\u300b\uff0c\u7981\u6b62\u516c\u53f8\u540c\u6642\u63d0\u4f9b\u5546\u696d\u9280\u884c\u8207\u6295\u8cc7\u9280\u884c\u670d\u52d9\u3002<\/p>\n\n\n\n<p id=\"block-749823b4-5a10-4fb3-9946-68c74796be1b\">\u6469\u6839\u5e1d\u570b\u81f3\u6b64\u88ab\u62c6\u70ba\u5169\u90e8\u4efd\uff1a\u820a\u7684\u6469\u6839\u58eb\u4e39\u5229\u548c\u6469\u6839\u9280\u884c\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"block-cc2cfe32-001e-410e-ba60-7803d04133c2\"><span class=\"ez-toc-section\" id=\"%E6%A0%BC%E6%8B%89%E6%96%AF-%E6%96%AF%E8%92%82%E6%A0%BC%E7%88%BE%E6%B3%95%E6%A1%88%E8%A2%AB%E5%BB%A2%E6%AD%A2\"><\/span>\u683c\u62c9\u65af-\u65af\u8482\u683c\u723e\u6cd5\u6848\u88ab\u5ee2\u6b62<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p id=\"block-d1b4e27c-e463-4519-a8d9-81283f19a320\">\u5728\u570b\u6703\u5c07\u5176\u8207\u63a5\u53d7\u5b58\u6b3e\u7684\u8cb8\u6b3e\u9280\u884c\u5206\u96e2\u4e4b\u5f8c\u768475\u5e74\uff0c\u7f8e\u570b\u6700\u5f8c\u5169\u5bb6\u4e3b\u8981\u6295\u8cc7\u9280\u884c\u6469\u6839\u58eb\u4e39\u5229\u548c\u9ad8\u76db\u5747\u65bc2008\u5e749\u670822\u65e5\u5ba3\u5e03\uff0c\u5b83\u5011\u5c07\u6210\u70ba\u7f8e\u806f\u6e96\u76e3\u7ba1\u7684\u50b3\u7d71\u9280\u884c\u63a7\u80a1\u516c\u53f8\u3002\u806f\u6e96\u6703\uff08Fed\uff09\u6279\u51c6\u5176\u6210\u70ba\u9280\u884c\u7684\u9019\u4e00\u8209\u52d5\uff0c\u7d50\u675f\u4e86\u8b49\u5238\u516c\u53f8\u7684\u512a\u52e2\u5730\u4f4d\u3002<\/p>\n\n\n\n<p id=\"block-467e7441-5908-4577-885f-514d9b9053be\">\u81ea\u6b64\u5f8c1933\u5e74\u7684\u683c\u62c9\u65af-\u65af\u8482\u683c\u723e\u6cd5\u6848\u88ab\u5ee2\u6b62\uff0c\u516c\u53f8\u53ef\u4ee5\u540c\u6642\u63d0\u4f9b\u5546\u696d\u9280\u884c\u8207\u6295\u8cc7\u9280\u884c\u7684\u670d\u52d9\u3002\u7c21\u8a00\u4e4b\uff0c\u6469\u6839\u58eb\u4e39\u5229\u548c<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2022\/07\/12\/%E5%85%A8%E7%90%83%E6%9C%80%E5%A4%A7%E9%8A%80%E8%A1%8C%E6%91%A9%E6%A0%B9%E5%A4%A7%E9%80%9A\/\" target=\"_blank\" rel=\"noreferrer noopener\">\u6469\u6839\u5927\u901a<\/a>\u81ea\u6b64\u5f8c\uff0c\u90fd\u540c\u6642\u63d0\u4f9b\u5546\u696d\u9280\u884c\u8207\u6295\u8cc7\u9280\u884c\u7684\u670d\u52d9\u3002<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E7%B0%A1%E4%BB%8B\"><\/span>\u7c21\u4ecb<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E6%91%A9%E6%A0%B9%E5%A4%A7%E9%80%9A%E7%9A%84%E6%AD%B7%E5%8F%B2\"><\/span>\u6469\u6839\u5927\u901a\u7684\u6b77\u53f2<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u6469\u6839\u5927\u901a\u96c6\u5718\u662f\u4ee5\u96c6\u5718\u65d7\u4e0b\u5176\u4e2d\u4e00\u5bb6\u516c\u53f8\u5275\u8fa6\u4eba\u7684\u540d\u5b57\u547d\u540d\uff0c\u9019\u500b\u96c6\u5718\u9577\u671f\u4ee5\u4f86\u8207\u9280\u884c\u696d\u5bc6\u4e0d\u53ef\u5206\u3002\u5b83\u7684\u4f01\u696d\u7684\u5408\u4f75\u6d89\u53ca\u904e\u53bb\u7684\u8a31\u591a\u4e3b\u8981\u7af6\u722d\u5c0d\u624b\u3002\u4f8b\u5982\u7f8e\u83ef\u9280\u884c\u3001\u5927\u901a\u9280\u884c\u7b49\u76f8\u6ab5\u5408\u4f75\u800c\u6210\uff0c\u4ee5\u53ca\u8feb\u4f7f\u8a31\u591a\u540c\u540d\u5b50\u516c\u53f8\u653e\u68c4\u7368\u7acb\uff0c\u7136\u5f8c\u4e26\u4f75\u5165\u6469\u6839\u5927\u901a\u96c6\u5718\u3002\u5118\u7ba1\u5982\u6b64\uff0c\u6469\u6839\u4f9d\u7136\u662f\u9ad8\u6de8\u503c\u5e02\u5834\u7684\u4e3b\u8981\u9280\u884c\u670d\u52d9\u4f9b\u61c9\u5546\uff0c\u96c6\u5718\u6642\u5e38\u4e0d\u8a08\u6210\u6557\u5730\u5229\u7528\u5404\u7a2e\u5f62\u52e2\u9032\u5165\u65b0\u8208\u5e02\u5834\uff0c\u56e0\u70ba\u65b0\u8208\u5e02\u5834\u7684\u8ca1\u5bcc\u901a\u5e38\u662f\u96c6\u4e2d\u5728\u5c11\u6578\u4eba\u7684\u624b\u4e2d\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading has-medium-font-size\"><span class=\"ez-toc-section\" id=\"%E6%91%A9%E6%A0%B9%E5%A4%A7%E9%80%9A%E7%9A%84%E5%9C%B0%E4%BD%8D%E6%9C%89%E5%A4%9A%E7%89%B9%E6%AE%8A%EF%BC%9F\"><\/span>\u6469\u6839\u5927\u901a\u7684<strong>\u5730\u4f4d\u6709\u591a\u7279\u6b8a\uff1f<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u6469\u6839\u5927\u901a\u516c\u53f8\uff08\u7f8e\u80a1\u4ee3\u78bc\uff1aJPM\uff09\u9019\u5bb6\u516c\u53f8\u5730\u4f4d\u6709\u591a\u91cd\u8981\uff0c\u8acb\u770b\u4ee5\u4e0b\u7684\u7d71\u8a08\uff1a<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>\u4ee5\u5e02\u503c\u8a08\uff0c\u662f\u5168\u7403\u6700\u5927\u9280\u884c\uff08\u7e3d\u8cc7\u7522\u8a08\u5247\u70ba\u5168\u7403\u7b2c\u4e94\u5927\u9280\u884c\uff09\u3002<\/li>\n\n\n\n<li>\u7f8e\u570b\u6b77\u53f2\u6700\u512a\u4e45\u7684\u9280\u884c\u3002<\/li>\n\n\n\n<li>\u7f8e\u570b\u6700\u5927\u7684\u4fe1\u7528\u5361\u767c\u5361\u9280\u884c\u3002<\/li>\n\n\n\n<li>\u7f8e\u570b\u696d\u52d9\u6700\u5ee3\u6cdb\u7684\u9280\u884c\u3002<\/li>\n\n\n\n<li>\u70ba\u83ef\u723e\u8857\u6700\u5177\u4ee3\u6027\u7684\u4f01\u696d\u3002<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading has-medium-font-size\"><span class=\"ez-toc-section\" id=\"%E6%91%A9%E6%A0%B9%E5%A4%A7%E9%80%9A%E5%9C%A8%E5%85%A8%E7%90%83%E9%87%91%E8%9E%8D%E7%95%8C%E6%9C%89%E6%8C%87%E6%A8%99%E4%BD%9C%E7%94%A8\"><\/span><strong>\u6469\u6839\u5927\u901a\u5728\u5168\u7403\u91d1\u878d\u754c\u6709\u6307\u6a19\u4f5c\u7528<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u7531\u65bc\u6469\u6839\u5927\u901a\u516c\u53f8\u4e0d\u662f\u4e00\u5bb6\u666e\u901a\u7684\u9280\u884c\uff0c\u56e0\u6b64\u5404\u9805\u8209\u63aa\u90fd\u52d5\u898b\u89c0\u77bb\u3002\u800c\u4e14\u516c\u53f8\u5927\u5230\u53ef\u4ee5\u5f71\u97ff\u5230\u653f\u5e9c\u7684\u5546\u696d\u6216\u7d93\u6fdf\u653f\u7b56\uff0c\u662f\u5178\u578b\u7684\u5927\u5230\u4e0d\u80fd\u5012\u7684\u4f01\u696d\u3002\u5404\u570b\u653f\u5e9c\u5728\u5236\u5b9a\u91d1\u878d\u653f\u7b56\u6642\uff0c\u4e5f\u90fd\u6703\u53c3\u8003\u9019\u5bb6\u516c\u53f8\u7684\u4f5c\u6cd5\u3002\u81f3\u65bc\u4e16\u754c\u5404\u5730\u7684\u7684\u9280\u884c\uff0c\u4e5f\u5e7e\u4e4e\u90fd\u4ee5\u6469\u6839\u5927\u901a\u505a\u70ba\u71df\u904b\u7684\u4e3b\u8981\u7bc4\u672c\u3002<\/p>\n\n\n\n<p>\u5176\u4e2d\u8f03\u70ba\u660e\u986f\u7684\u662f\u6469\u6839\u5927\u901a\u516c\u53f8\u6703\u5728\u5404\u570b\u96c7\u7528\u6240\u5728\u5730\u7684\u525b\u96e2\u4efb\u7684\u653f\u6cbb\u9818\u8896\uff08\u5305\u62ec\u82f1\u570b\u524d\u9996\u76f8\uff09\u6216\u662f\u653f\u5e9c\u4e3b\u7ba1\u5546\u696d\uff0c\u91d1\u878d\uff0c\u6216\u662f\u8ca1\u653f\u7684\u4e3b\u7ba1\uff08\u4f8b\u5982\u6e2f\u4ea4\u6240\u7684\u674e\u5c0f\u52a0\uff09\uff0c\u4ee5\u53ca\u82b1\u8cbb\u9245\u8cc7\u9032\u884c\u653f\u7b56\u7684\u904a\u8aaa\uff0c\u8db3\u898b\u5176\u653f\u6cbb\u4eba\u8108\u7684\u5145\u6c9b\u7a0b\u5ea6\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading has-medium-font-size\"><span class=\"ez-toc-section\" id=\"%E6%91%A9%E6%A0%B9%E5%A4%A7%E9%80%9A%E7%9A%84%E5%9F%B7%E8%A1%8C%E9%95%B7\"><\/span>\u6469\u6839\u5927\u901a\u7684<strong>\u57f7\u884c\u9577<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u6469\u6839\u5927\u901a\u7684\u57f7\u884c\u9577\u4e5f\u4e0d\u662f\u7c21\u55ae\u7684\u4eba\u7269\u8db3\u4ee5\u52dd\u4efb\u7684\u3002\u76ee\u524d\u7684\u57f7\u884c\u9577\u6234\u8499\uff08Jamie Dimon\uff09\u5728\u63a5\u4efb\u6469\u6839\u5927\u901a\u516c\u53f8\u4e4b\u524d\uff0c\u5c31\u5df2\u7d93\u662f\u7f8e\u570b\u9280\u884c\u754c\u7684\u660e\u65e5\u4e4b\u661f\uff0c\u88ab\u5404\u65b9\u770b\u597d\u4ed6\u9072\u65e9\u6703\u7e7c\u4efb\u6469\u6839\u5927\u901a\u7684\u57f7\u884c\u9577\u3002\u4ed6\u66f4\u662f\u4e00\u624b\u50ac\u751f\u73fe\u5728\u7684\u82b1\u65d7\u9280\u884c\uff08\u7f8e\u80a1\u4ee3\u78bc\uff1aC\uff09\u7684\u5e55\u5f8c\u4e3b\u89d2\uff0c\u5f8c\u4f86\u63a5\u4efb\u4efb\u7f8e\u570b\u7b2c\u4e00\u9280\u884c\uff08Bank One\uff09\u7684\u57f7\u884c\u9577\uff0c\u7b2c\u4e00\u9280\u884c\u88ab\u4f75\u5165\u6469\u6839\u5927\u901a\u5f8c\uff0c\u51fa\u4efb\u5408\u4f75\u5f8c\u7684\u6469\u6839\u5927\u901a\u7684\u71df\u904b\u9577\uff0c2006\u5e74\u6210\u70ba\u6469\u6839\u5927\u901a\u7684\u57f7\u884c\u9577\u3002<\/p>\n\n\n\n<p>\u4e9e\u99ac\u905c\uff08\u7f8e\u80a1\u4ee3\u78bc\uff1aAMZN\uff09\u5275\u8fa6\u4eba\u2f99\u4f50\u65af\uff08\u8a3b\uff1a\u2f99\u4f50\u65af\u5728\u5275\u7acb\u4e9e\u99ac\u905c\u4e4b\u524d\u662f\u83ef\u723e\u8857\u8457\u540d\u91cf\u5316\u6295\u8cc7\u4f01\u696d\u5fb7\u90b5\u7684\u9ad8\u968e\u4e3b\u7ba1\uff09\u66fe\u2f24\u2f12\u8b9a\u63da\u6469\u6839\u2f24\u901a\u9280\u2f8f\u6234\u8499\u3002\u300c<a href=\"https:\/\/www.cnbc.com\/2018\/05\/16\/jeff-bezos-considers-these-3-ceos-his-role-models.html\" target=\"_blank\" rel=\"noreferrer noopener\">\u5982\u679c\u6211\u662f\u6469\u6839\u2f24\u901a\u7684\u2f24\u80a1\u6771\uff0c\u6211\u9858\u610f\u6bcf\u5468\u2f00\u65e9\u6668\u70ba\u4ed6\u9001\u5496\u5561\u53ca\u9ede\u2f3c<\/a>\u3002\u300d\u2f99\u4f50\u65af\u5728\u5ea7\u8ac7\u6703\u4e0a\u8868\u2f70\uff0c\u4f5c\u70ba\u2f00\u5bb6\u975e\u5e38\u8907\u96dc\u7684\u516c\u53f8\u4e3b\u7ba1\uff0c\u6234\u8499\u7121\u7591\u662f\u2f00\u70ba\u51fa\u2f8a\u7684\u2fbc\u968e\u4e3b\u7ba1\u3002<\/p>\n\n\n\n<p>2016\u81f32018\u5e74\uff0c\u6234\u8499\u90fd\u662f\u7f8e\u570b\u4e0a\u5e02\u4f01\u696d\u6700\u9ad8\u85aa\u916c\u6240\u5f97\u7684\u57f7\u884c\u9577\u3002 \u6234\u8499\u4e0d\u50c5\u5c0d\u83ef\u723e\u8857\u6709\u5de8\u5927\u7684\u5f71\u97ff\u529b\uff0c\u751a\u81f3\u591a\u6b21\u4efb\u300c\u4f01\u696d\u5713\u684c\u6703\u8b70\u300d\u4e3b\u5e2d\uff0c\u513c\u6210\u662f\u7f8e\u570b\u4f01\u696d\u7684\u300c\u5f71\u5b50\u7e3d\u7d71\u300d\uff0c\u5c0d\u7f8e\u570b\u653f\u5546\u754c\u6709\u5de8\u5927\u7684\u767c\u8a00\u6b0a\u548c\u5f71\u97ff\u529b\u3002<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E6%91%A9%E6%A0%B9%E5%A4%A7%E9%80%9A%E7%9A%84%E7%87%9F%E9%81%8B\"><\/span>\u6469\u6839\u5927\u901a\u7684\u71df\u904b<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading has-medium-font-size\"><span class=\"ez-toc-section\" id=\"%E4%B8%BB%E8%A6%81%E4%BD%B5%E8%B3%BC%E5%8F%B2\"><\/span><strong>\u4e3b\u8981\u4f75\u8cfc\u53f2<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u6469\u6839\u5927\u901a\u516c\u53f8\u6700\u53e4\u8001\u7684\u524d\u8eab\u6a5f\u69cb\uff0c\u66fc\u54c8\u9813\u516c\u53f8\u9280\u884c\u662f\u7f8e\u570b\u7b2c\u4e09\u53e4\u8001\u7684\u9280\u884c\u516c\u53f8\uff0c\u4e5f\u662f\u4e16\u754c\u4e0a\u7b2c 31 \u53e4\u8001\u7684\u9280\u884c\u3002\u76ee\u524d\u6240\u77e5\u6700\u65e9\u7684\u524d\u8eab\u662f\u66fc\u54c8\u9813\u516c\u53f8\u9280\u884c\uff0c\u5b83\u662f\u4e9e\u502b\u00b7\u4f2f\u723e (Aaron Burr) \u5275\u5efa\u7684\uff0c\u4ed6\u5c07\u516c\u53f8\u5f9e\u4e00\u5bb6\u6c34\u904b\u516c\u53f8\u8f49\u8b8a\u70ba\u4e00\u5bb6\u9280\u884c\u3002<\/p>\n\n\n\n<p>\u800c\u516c\u53f8\u7684\u4e3b\u9ad4JP Morgan &amp; Co.\u662f\u7f8e\u570b\u5546\u696d\u53f2\u4e0a\u7684\u50b3\u5947\u540d\u4eba\u7d04\u7ff0\u00b7\u76ae\u723e\u9f90\u7279\u00b7\u6469\u6839\uff08J. P. Morgan\uff09\u65bc 1871 \u5e74\u5275\u7acb\u7684\u4e00\u5bb6\u5546\u696d\u548c\u6295\u8cc7\u9280\u884c\u6a5f\u69cb\u3002\u9019\u500b\u516c\u53f8\u662f\u76ee\u524d\u4e16\u754c\u4e0a\u4e09\u5927\u9280\u884c\u6a5f\u69cb\u2500\u2500\u2500\u2500\u6469\u6839\u5927\u901a\u3001\u6469\u6839\u58eb\u4e39\u5229\uff08\u7f8e\u80a1\u4ee3\u78bc\uff1aMS\uff09\u548c\u5fb7\u610f\u5fd7\u9280\u884c\uff08\u7f8e\u80a1\u4ee3\u78bc\uff1aDB\uff09\u7684\u5171\u540c\u524d\u8eab\u3002<\/p>\n\n\n\n<p>\u6469\u6839\u5927\u901a\u76ee\u524d\u7684\u7d50\u69cb\u662f\u81ea 1996 \u5e74\u4ee5\u4f86\u7f8e\u570b\u5e7e\u5bb6\u5927\u578b\u9280\u884c\u516c\u53f8\u5408\u4f75\u7684\u7d50\u679c\u3002\u6469\u6839\u5927\u901a\u516c\u53f8\u80fd\u5920\u9054\u6210\u76ee\u524d\u7684\u898f\u6a21\u548c\u5730\u4f4d\uff0c\u4e3b\u8981\u662f\u900f\u904e\u9577\u5e74\u4e0d\u9593\u65b7\u7684\u4f75\u8cfc\u6240\u9054\u6210\u7684\u3002\u4ee5\u4e0b\u5247\u662f\u6700\u91cd\u8981\u7684\u5e7e\u4ef6\u5927\u578b\u7684\u4f75\u8cfc\u6848\uff1a<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"368\" height=\"88\" src=\"https:\/\/www.granitefirm.com\/blog\/wp-content\/uploads\/2022\/05\/a-1600x1200-7.png\" alt=\"\" class=\"wp-image-15271\" srcset=\"https:\/\/www.granitefirm.com\/blog\/wp-content\/uploads\/2022\/05\/a-1600x1200-7.png 368w, https:\/\/www.granitefirm.com\/blog\/wp-content\/uploads\/2022\/05\/a-1600x1200-7-300x72.png 300w\" sizes=\"auto, (max-width: 368px) 85vw, 368px\" \/><\/figure>\n\n\n\n<p><\/p>\n\n\n\n<h3 class=\"wp-block-heading has-medium-font-size\"><span class=\"ez-toc-section\" id=\"%E4%B8%BB%E8%A6%81%E6%A5%AD%E5%8B%99\"><\/span><strong>\u4e3b\u8981\u696d\u52d9<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>2021\u5e74\u5404\u90e8\u9580\u7684\u71df\u6536\u8868\u73fe\u5982\u4e0b\uff1a<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td>\u4e3b\u8981\u90e8\u9580\u7684\u71df\u6536<\/td><td>\u6578\u5b57\uff08\u7f8e\u91d1\u767e\u842c\uff09<\/td><\/tr><tr><td>\u6295\u8cc7\u9280\u884c<\/td><td>13,216 +39.32%<\/td><\/tr><tr><td>\u4ea4\u6613<\/td><td>16,304 -9.53%<\/td><\/tr><tr><td>\u5b58\u653e\u6b3e<\/td><td>7,032 +8%<\/td><\/tr><tr><td>\u8cc7\u7522\u7ba1\u7406<\/td><td>21,029 +15.69%<\/td><\/tr><tr><td>\u8b49\u5238\u6295\u8cc7\u76c8\u8667<\/td><td>(345) vs 802<\/td><\/tr><tr><td>\u62b5\u62bc\u8cb8\u6b3e<\/td><td>2,170 &#8211; 29.8%<\/td><\/tr><tr><td>\u4fe1\u7528\u5361<\/td><td>5,102 +15.04%<\/td><\/tr><tr><td>\u5176\u5b83\u6536\u5165<\/td><td>4,830 -0.72%<\/td><\/tr><tr><td><strong>\u975e\u5229\u606f\u7e3d\u6536\u5165\uff08\u6b64\u5217\u4ee5\u4e0a\u6240\u6709\u696d\u52d9\u6536\u5165\uff09<\/strong><\/td><td><strong>69,338 +6.05%<\/strong><\/td><\/tr><tr><td><strong>\u5229\u606f\u7e3d\u6536\u5165<\/strong><\/td><td><strong>52,311<\/strong> <strong>-4.13%<\/strong><\/td><\/tr><tr><td><strong>\u7e3d\u71df\u6536<\/strong><\/td><td><strong>121,649<\/strong> <strong>+1.42%<\/strong><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E5%85%AC%E5%8F%B8%E7%9A%84%E6%95%B4%E9%AB%94%E8%A1%A8%E7%8F%BE%E5%A6%82%E4%BD%95%EF%BC%9F\"><\/span>\u516c\u53f8\u7684\u6574\u9ad4\u8868\u73fe\u5982\u4f55\uff1f<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading has-medium-font-size\"><span class=\"ez-toc-section\" id=\"2021%E5%B9%B4%E8%B2%A1%E5%8B%99%E8%A1%A8%E7%8F%BE\"><\/span><strong>2021\u5e74\u8ca1\u52d9\u8868\u73fe<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td>\u6307\u6a19<\/td><td>\u6578\u5b57\uff08\u7f8e\u91d1\u767e\u842c\uff09<\/td><\/tr><tr><td>\u71df\u6536<\/td><td>121,649 +1.42%<\/td><\/tr><tr><td>\u63d0\u5b58\u524d\u76c8\u9918<\/td><td>50,306 -5.61%<\/td><\/tr><tr><td>\u5446\u5e33\u63d0\u5217<\/td><td>(9,256)<\/td><\/tr><tr><td>\u6de8\u5229<\/td><td>48,334 +65.92%<\/td><\/tr><tr><td>\u5e02\u503c<\/td><td>466,206<\/td><\/tr><tr><td>\u6bcf\u80a1\u8cec\u9762\u6de8\u503c<\/td><td>88.07<\/td><\/tr><tr><td>ROE<\/td><td>19%<\/td><\/tr><tr><td>ROA<\/td><td>1.3<\/td><\/tr><tr><td>\u653e\u6b3e<\/td><td>1,077,714<\/td><\/tr><tr><td>\u7e3d\u8cc7\u7522<\/td><td>3,743,567<\/td><\/tr><tr><td>\u5b58\u6b3e<\/td><td>2,462,303<\/td><\/tr><tr><td>\u9577\u671f\u8ca0\u50b5<\/td><td>301,005<\/td><\/tr><tr><td>\u8cb8\u6b3e\u640d\u5931\u6e96\u5099\u91d1<\/td><td>1.62%<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"373\" height=\"68\" src=\"https:\/\/www.granitefirm.com\/blog\/wp-content\/uploads\/2022\/07\/j-1.jpg\" alt=\"\u6469\u6839\u5927\u901a\" class=\"wp-image-22253\" srcset=\"https:\/\/www.granitefirm.com\/blog\/wp-content\/uploads\/2022\/07\/j-1.jpg 373w, https:\/\/www.granitefirm.com\/blog\/wp-content\/uploads\/2022\/07\/j-1-300x55.jpg 300w\" sizes=\"auto, (max-width: 373px) 85vw, 373px\" \/><figcaption class=\"wp-element-caption\">Credit: Wikimedia<\/figcaption><\/figure>\n\n\n\n<h3 class=\"wp-block-heading has-medium-font-size\"><span class=\"ez-toc-section\" id=\"%E5%B8%82%E5%A0%B4%E7%9A%84%E4%BC%B0%E5%80%BC\"><\/span><strong>\u5e02\u5834\u7684\u4f30\u503c<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td>2021<\/td><td>\u6469\u6839\u5927\u901a<\/td><td>\u7f8e\u570b\u9280\u884c<\/td><td>\u5bcc\u570b\u9280\u884c<\/td><td>\u82b1\u65d7\u9280\u884c&nbsp;<\/td><\/tr><tr><td>\u5e02\u503c\uff08\u7f8e\u91d1\u5341\u5104\uff09<\/td><td>361.68<\/td><td>299.15<\/td><td>167.88<\/td><td>98.82<\/td><\/tr><tr><td>\u80a1\u50f9<\/td><td>123.03<\/td><td>37.13<\/td><td>44.16<\/td><td>50.1<\/td><\/tr><tr><td>\u672c\u76ca\u6bd4<\/td><td>9.13<\/td><td>10.58<\/td><td>9.18<\/td><td>5.91<\/td><\/tr><tr><td>\u80a1\u5229\u6b96\u5229\u7387<\/td><td>3.25%<\/td><td>2.26%<\/td><td>2.26%<\/td><td>4.07%<\/td><\/tr><tr><td>\u7e3d\u8cc7\u7522\uff08\u7f8e\u91d1\u5341\u5104\uff09<\/td><td>3,743.567<\/td><td>3,169.495<\/td><td>1,948.068<\/td><td>2,291.413<\/td><\/tr><tr><td>ROA<\/td><td>1.3%<\/td><td>0.9%<\/td><td>0.9%<\/td><td>0.9%<\/td><\/tr><tr><td>ROE<\/td><td>19%<\/td><td>11.6%<\/td><td>10.4%<\/td><td>11.9%<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h3 class=\"wp-block-heading has-medium-font-size\"><span class=\"ez-toc-section\" id=\"%E9%81%8E%E5%8E%BB%E5%8D%81%E5%B9%B4%E7%9A%84%E8%82%A1%E5%83%B9%E8%A1%A8%E7%8F%BE\"><\/span><strong>\u904e\u53bb\u5341\u5e74\u7684\u80a1\u50f9\u8868\u73fe<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u4ee5\u4e0b\u662f\u6469\u6839\u5927\u901a\uff08158.63%\uff09\uff0c\u7f8e\u570b\u9280\u884c\uff08203.35%\uff09\uff0c\u5bcc\u570b\u9280\u884c\uff0817.01%\uff09\uff0c\u82b1\u65d7\u9280\u884c\uff086.65%\uff09\uff1b\u5c0d\u6bd4\u6a19\u666e500\u6307\u6578\uff08158.64%\uff09\u7684\u80a1\u50f9\u8d70\u52e2\u5716\uff1a<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"554\" height=\"286\" src=\"https:\/\/www.granitefirm.com\/blog\/wp-content\/uploads\/2022\/05\/a-1600x1200-6.png\" alt=\"\" class=\"wp-image-15268\" srcset=\"https:\/\/www.granitefirm.com\/blog\/wp-content\/uploads\/2022\/05\/a-1600x1200-6.png 554w, https:\/\/www.granitefirm.com\/blog\/wp-content\/uploads\/2022\/05\/a-1600x1200-6-300x155.png 300w\" sizes=\"auto, (max-width: 554px) 85vw, 554px\" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E7%9B%B8%E9%97%9C%E6%96%87%E7%AB%A0\"><\/span>\u76f8\u95dc\u6587\u7ae0<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2025\/08\/14\/%e3%80%8a%e5%a4%a7%e5%88%b0%e4%b8%8d%e8%83%bd%e5%80%92%e3%80%8b\/\">\u300a\u5927\u5230\u4e0d\u80fd\u5012\uff08Too Big To Fall\uff09\u300b-2008\u5e74\u91d1\u878d\u98a8\u66b4\u6700\u4f73\u5165\u9580<\/a>\u300b<\/li>\n\n\n\n<li>\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2025\/09\/28\/%e3%80%8a%e5%a4%a7%e8%b3%a3%e7%a9%ba%ef%bc%88the-big-short%ef%bc%89%e3%80%8b\/\">\u5927\u8ce3\u7a7a\uff08The Big Short\uff09<\/a>\u300b<\/li>\n\n\n\n<li>\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2025\/08\/20\/%e6%88%bf%e5%88%a9%e7%be%8e%e5%92%8c%e6%88%bf%e5%9c%b0%e7%be%8e%e6%b1%ba%e5%ae%9a%e9%87%8d%e6%96%b0%e4%b8%8a%e5%b8%82\/\">\u623f\u5229\u7f8e\u548c\u623f\u5730\u7f8e\uff08Fannie Mae\uff0cFreddie Mac\uff09\u5f88\u53ef\u80fd\u6703\u91cd\u65b0\u4e0a\u5e02<\/a>\u300b<\/li>\n\n\n\n<li>\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2023\/06\/02\/%E7%9F%BD%E2%BE%95%E9%8A%80%E2%BE%8F%E6%98%AF%E5%A6%82%E4%BD%95%E7%A0%B4%E7%94%A2%E7%9A%84%EF%BC%9F%E5%BD%B1%E9%9F%BF%E7%82%BA%E4%BD%95%EF%BC%9F\/\" target=\"_blank\" rel=\"noreferrer noopener\">\u77fd\u2f95\u9280\u2f8f\u662f\u5982\u4f55\u7834\u7522\u7684\uff1f\u5f71\u97ff\u70ba\u4f55\uff1f<\/a>\u300b<\/li>\n\n\n\n<li><a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2025\/06\/22\/%e3%80%8a%e9%bb%91%e9%87%91%e9%a2%a8%e6%9a%b4inside-job%e3%80%8b\/\">\u300a\u9ed1\u91d1\u98a8\u66b4(Inside Job)\u300b<\/a><\/li>\n\n\n\n<li>\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2025\/10\/08\/%e6%8a%95%e8%b3%87%e9%8a%80%e8%a1%8c%e4%b9%8b%e7%8e%8b%e6%91%a9%e6%a0%b9%e5%a3%ab%e4%b8%b9%e5%88%a9\/\">\u6295\u8cc7\u9280\u884c\u4e4b\u738b\u6469\u6839\u58eb\u4e39\u5229\uff08Morgan Stanley\uff09<\/a>\u300b<\/li>\n\n\n\n<li>\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2022\/07\/12\/%E5%85%A8%E7%90%83%E6%9C%80%E5%A4%A7%E9%8A%80%E8%A1%8C%E6%91%A9%E6%A0%B9%E5%A4%A7%E9%80%9A\/\" target=\"_blank\" rel=\"noreferrer noopener\">\u5168\u7403\u6700\u5927\u9280\u884c\u6469\u6839\u5927\u901a\uff08JPMorgan Chase\uff09\u662f\u5982\u4f55\u8cfa\u9322\u7684\uff1f<\/a>\u300b<\/li>\n\n\n\n<li>\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2024\/07\/18\/%E5%A4%A7%E5%88%B0%E4%B8%8D%E8%83%BD%E5%80%92%E7%9A%84%E7%BE%8E%E5%9C%8B%E9%8A%80%E8%A1%8C\/\" target=\"_blank\" rel=\"noreferrer noopener\">\u5927\u5230\u4e0d\u80fd\u5012\u7684\u7f8e\u570b\u9280\u884c\uff08Bank of America\uff09<\/a>\u300b<\/li>\n\n\n\n<li>\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2022\/07\/27\/%E7%9B%B8%E4%BF%A1%E6%88%90%E5%8A%9F%E6%8A%95%E8%B3%87%E4%BA%BA%E6%98%AF%E5%80%96%E5%AD%98%E8%80%85%E5%81%8F%E8%AA%A4%E7%9A%84%E4%BA%BA%E4%B8%8D%E5%8F%AF%E8%83%BD%E6%88%90%E5%8A%9F\/\" target=\"_blank\" rel=\"noreferrer noopener\"><\/a><a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2022\/06\/17\/%E6%9B%BE%E7%B6%93%E5%B7%B4%E8%8F%B2%E7%89%B9%E5%92%8C%E8%92%99%E6%A0%BC%E9%83%BD%E8%AE%9A%E8%AD%BD%E6%9C%89%E4%BD%B3%E7%9A%84%E9%87%8D%E8%A6%81%E6%8C%81%E8%82%A1%E5%AF%8C%E5%9C%8B%E9%8A%80%E8%A1%8C\/\">\u5bcc\u570b\u9280\u884c\u5982\u4f55\u8cfa\u9322\uff1f\u66fe\u7d93\u5df4\u83f2\u7279\u548c\u8499\u683c\u90fd\u8b9a\u8b7d\u6709\u52a0\u7684\u91cd\u8981\u6301\u80a1<\/a>\u300b<\/li>\n\n\n\n<li>\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2021\/04\/30\/%E4%BB%80%E9%BA%BC%E5%9B%A0%E7%B4%A0%E9%80%A0%E6%88%90%E8%8A%B1%E6%97%97%E6%94%BE%E6%A3%8413%E5%9C%8B%E7%9A%84%E9%9B%B6%E5%94%AE%E9%8A%80%E8%A1%8C%E6%A5%AD%E5%8B%99\/\">\u4ec0\u9ebc\u56e0\u7d20\u9020\u6210\u82b1\u65d7\uff08Citigroup\uff09\u653e\u68c413\u570b\u7684\u96f6\u552e\u9280\u884c\u696d\u52d9<\/a>\u300b<\/li>\n\n\n\n<li>\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2022\/09\/09\/%E8%8A%B1%E6%97%97%E9%9B%86%E5%9C%98\/\" target=\"_blank\" rel=\"noreferrer noopener\">\u8d70\u4e0b\u5761\u4f01\u696d\u7684\u4ee3\u8868\u82b1\u65d7\u96c6\u5718\uff08Citigroup\uff09<\/a>\u300b<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E9%87%8D%E8%A6%81%E8%81%B2%E6%98%8E\"><\/span><em><strong>\u91cd\u8981\u8072\u660e<\/strong><\/em><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><em>\u672c\u7ad9\u5167\u5bb9\u70ba\u4f5c\u8005\u500b\u4eba\u610f\u898b\uff0c\u50c5\u4f9b\u53c3\u8003\uff0c\u672c\u4eba\u4e0d\u5c0d\u6587\u7ae0\u5167\u5bb9\u3001\u8cc7\u6599\u4e4b\u6b63\u78ba\u6027\u3001\u770b\u6cd5\u3001\u8207\u5373\u6642\u6027\u8ca0\u4efb\u4f55\u8cac\u4efb\uff0c\u8b80\u8005\u8acb\u52d9\u5fc5\u81ea\u884c\u5224\u65b7\u3002<\/em><\/li>\n\n\n\n<li><em>\u5c0d\u65bc\u8b80\u8005\u76f4\u63a5\u6216\u9593\u63a5\u4f9d\u8cf4\u4e26\u53c3\u8003\u672c\u7ad9\u8cc7\u8a0a\u5f8c\uff0c\u63a1\u53d6\u4efb\u4f55\u6295\u8cc7\u884c\u70ba\u6240\u5c0e\u81f4\u4e4b\u76f4\u63a5\u6216\u9593\u63a5\u640d\u5931\uff0c\u6216\u56e0\u6b64\u7522\u751f\u4e4b\u4e00\u5207\u8cac\u4efb\uff0c\u672c\u4eba\u5747\u4e0d\u8ca0\u4efb\u4f55\u640d\u5bb3\u8ce0\u511f\u53ca\u5176\u4ed6\u6cd5\u5f8b\u4e0a\u4e4b\u8cac\u4efb\u3002<\/em><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>\u6469\u6839\u5927\u901a\u96c6\u5718\u662f\u4ee5\u96c6\u5718\u65d7\u4e0b\u5176\u4e2d\u4e00\u5bb6\u516c\u53f8\u5275\u8fa6\u4eba\u7684\u540d\u5b57\u547d\u540d\uff0c\u9019\u500b\u96c6\u5718\u9577\u671f\u4ee5\u4f86\u8207\u9280\u884c\u696d\u5bc6\u4e0d\u53ef\u5206\u3002\u5b83\u7684\u4f01\u696d\u7684\u5408\u4f75\u6d89\u53ca\u904e\u53bb\u7684\u8a31\u591a\u4e3b\u8981\u7af6\u722d\u5c0d\u624b\u3002<\/p>\n","protected":false},"author":1,"featured_media":22253,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[565,617,8,331,335,302,184,514,464,632,633,330,580,634,450,442,299],"tags":[165,392,114,860,561,638,380],"class_list":["post-15111","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bank","category-company-bio","category-business-leaders","category-commercial-finance","category-acquisitions","category-card","category-bond","category-founders","category-ceo","category-investment-banks","category-investing-advisory","category-consumer-finance","category-charter-and-license","category-securities-broker","category-wealth-management","category-quantitative-investing","category-finance","tag-amzn","tag-bac","tag-c","tag-db","tag-jpm","tag-ms","tag-wfc"],"_links":{"self":[{"href":"https:\/\/www.granitefirm.com\/blog\/wp-json\/wp\/v2\/posts\/15111","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.granitefirm.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.granitefirm.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.granitefirm.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.granitefirm.com\/blog\/wp-json\/wp\/v2\/comments?post=15111"}],"version-history":[{"count":12,"href":"https:\/\/www.granitefirm.com\/blog\/wp-json\/wp\/v2\/posts\/15111\/revisions"}],"predecessor-version":[{"id":74202,"href":"https:\/\/www.granitefirm.com\/blog\/wp-json\/wp\/v2\/posts\/15111\/revisions\/74202"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.granitefirm.com\/blog\/wp-json\/wp\/v2\/media\/22253"}],"wp:attachment":[{"href":"https:\/\/www.granitefirm.com\/blog\/wp-json\/wp\/v2\/media?parent=15111"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.granitefirm.com\/blog\/wp-json\/wp\/v2\/categories?post=15111"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.granitefirm.com\/blog\/wp-json\/wp\/v2\/tags?post=15111"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}