{"id":20413,"date":"2022-06-25T20:40:00","date_gmt":"2022-06-25T12:40:00","guid":{"rendered":"https:\/\/www.granitefirm.com\/blog\/?p=20413"},"modified":"2025-03-23T21:19:52","modified_gmt":"2025-03-23T13:19:52","slug":"%e5%a6%82%e4%bd%95%e9%9d%a2%e5%b0%8d%e7%9b%ae%e5%89%8d%e8%82%a1%e5%b8%82%e5%b4%a9%e7%9b%a4%e6%88%96%e5%a4%a7%e5%b9%85%e5%9b%9e%e6%aa%94","status":"publish","type":"post","link":"https:\/\/www.granitefirm.com\/blog\/blog\/2022\/06\/25\/%e5%a6%82%e4%bd%95%e9%9d%a2%e5%b0%8d%e7%9b%ae%e5%89%8d%e8%82%a1%e5%b8%82%e5%b4%a9%e7%9b%a4%e6%88%96%e5%a4%a7%e5%b9%85%e5%9b%9e%e6%aa%94\/","title":{"rendered":"\u5982\u4f55\u9762\u5c0d\u80a1\u5e02\u5d29\u76e4\u6216\u5927\u5e45\u56de\u6a94\uff1f"},"content":{"rendered":"\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_83 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\/06\/25\/%e5%a6%82%e4%bd%95%e9%9d%a2%e5%b0%8d%e7%9b%ae%e5%89%8d%e8%82%a1%e5%b8%82%e5%b4%a9%e7%9b%a4%e6%88%96%e5%a4%a7%e5%b9%85%e5%9b%9e%e6%aa%94\/#%E7%9B%AE%E5%89%8D%E5%BE%88%E5%A4%9A%E6%8A%95%E8%B3%87%E4%BA%BA%E5%85%B1%E5%90%8C%E7%9A%84%E5%9B%B0%E6%93%BE\" >\u76ee\u524d\u5f88\u591a\u6295\u8cc7\u4eba\u5171\u540c\u7684\u56f0\u64fe<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2022\/06\/25\/%e5%a6%82%e4%bd%95%e9%9d%a2%e5%b0%8d%e7%9b%ae%e5%89%8d%e8%82%a1%e5%b8%82%e5%b4%a9%e7%9b%a4%e6%88%96%e5%a4%a7%e5%b9%85%e5%9b%9e%e6%aa%94\/#%E6%88%91%E7%9A%84%E7%B6%93%E9%A9%97%E5%88%86%E4%BA%AB\" >\u6211\u7684\u7d93\u9a57\u5206\u4eab<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2022\/06\/25\/%e5%a6%82%e4%bd%95%e9%9d%a2%e5%b0%8d%e7%9b%ae%e5%89%8d%e8%82%a1%e5%b8%82%e5%b4%a9%e7%9b%a4%e6%88%96%e5%a4%a7%e5%b9%85%e5%9b%9e%e6%aa%94\/#%E6%88%91%E8%87%AA%E5%B7%B1%E9%81%8E%E5%8E%BB%E7%9A%84%E4%B8%89%E6%AC%A1%E7%B6%93%E9%A9%97\" >\u6211\u81ea\u5df1\u904e\u53bb\u7684\u4e09\u6b21\u7d93\u9a57<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2022\/06\/25\/%e5%a6%82%e4%bd%95%e9%9d%a2%e5%b0%8d%e7%9b%ae%e5%89%8d%e8%82%a1%e5%b8%82%e5%b4%a9%e7%9b%a4%e6%88%96%e5%a4%a7%e5%b9%85%e5%9b%9e%e6%aa%94\/#%E9%81%8E%E5%8E%BB%E4%B8%89%E6%AC%A1%E6%88%91%E9%83%BD%E5%8A%A0%E7%A2%BC%E8%B2%B7%E9%80%B2\" >\u904e\u53bb\u4e09\u6b21\u6211\u90fd\u52a0\u78bc\u8cb7\u9032<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2022\/06\/25\/%e5%a6%82%e4%bd%95%e9%9d%a2%e5%b0%8d%e7%9b%ae%e5%89%8d%e8%82%a1%e5%b8%82%e5%b4%a9%e7%9b%a4%e6%88%96%e5%a4%a7%e5%b9%85%e5%9b%9e%e6%aa%94\/#%E4%B8%8D%E5%BF%85%E8%A2%AB%E8%BF%AB%E8%B3%A3%E8%82%A1\" >\u4e0d\u5fc5\u88ab\u8feb\u8ce3\u80a1<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2022\/06\/25\/%e5%a6%82%e4%bd%95%e9%9d%a2%e5%b0%8d%e7%9b%ae%e5%89%8d%e8%82%a1%e5%b8%82%e5%b4%a9%e7%9b%a4%e6%88%96%e5%a4%a7%e5%b9%85%e5%9b%9e%e6%aa%94\/#%E4%BA%BA%E6%80%A7%E9%A2%A8%E9%9A%AA%E8%B6%A8%E9%81%BF%E5%92%8C%E7%9F%AD%E8%A6%96\" >\u4eba\u6027\u98a8\u96aa\u8da8\u907f\u548c\u77ed\u8996<\/a><\/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\/06\/25\/%e5%a6%82%e4%bd%95%e9%9d%a2%e5%b0%8d%e7%9b%ae%e5%89%8d%e8%82%a1%e5%b8%82%e5%b4%a9%e7%9b%a4%e6%88%96%e5%a4%a7%e5%b9%85%e5%9b%9e%e6%aa%94\/#%E6%99%82%E6%A9%9F%E5%92%8C%E9%81%8B%E6%B0%A3\" >\u6642\u6a5f\u548c\u904b\u6c23<\/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\/06\/25\/%e5%a6%82%e4%bd%95%e9%9d%a2%e5%b0%8d%e7%9b%ae%e5%89%8d%e8%82%a1%e5%b8%82%e5%b4%a9%e7%9b%a4%e6%88%96%e5%a4%a7%e5%b9%85%e5%9b%9e%e6%aa%94\/#%E5%85%A9%E6%AE%B5%E4%BE%8B%E5%AD%90\" >\u5169\u6bb5\u4f8b\u5b50<\/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\/06\/25\/%e5%a6%82%e4%bd%95%e9%9d%a2%e5%b0%8d%e7%9b%ae%e5%89%8d%e8%82%a1%e5%b8%82%e5%b4%a9%e7%9b%a4%e6%88%96%e5%a4%a7%e5%b9%85%e5%9b%9e%e6%aa%94\/#%E9%81%8E%E5%8E%BB%E4%B8%89%E5%B9%B4%E7%9A%84%E7%89%9B%E5%B8%82%E4%B8%8D%E6%98%AF%E5%B8%82%E5%A0%B4%E5%B8%B8%E6%85%8B\" >\u904e\u53bb\u4e09\u5e74\u7684\u725b\u5e02\u4e0d\u662f\u5e02\u5834\u5e38\u614b<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2022\/06\/25\/%e5%a6%82%e4%bd%95%e9%9d%a2%e5%b0%8d%e7%9b%ae%e5%89%8d%e8%82%a1%e5%b8%82%e5%b4%a9%e7%9b%a4%e6%88%96%e5%a4%a7%e5%b9%85%e5%9b%9e%e6%aa%94\/#%E9%95%B7%E6%9C%9F%E6%8A%95%E8%B3%87%E7%9A%84%E9%87%8D%E8%A6%81%E6%80%A7\" >\u9577\u671f\u6295\u8cc7\u7684\u91cd\u8981\u6027<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2022\/06\/25\/%e5%a6%82%e4%bd%95%e9%9d%a2%e5%b0%8d%e7%9b%ae%e5%89%8d%e8%82%a1%e5%b8%82%e5%b4%a9%e7%9b%a4%e6%88%96%e5%a4%a7%e5%b9%85%e5%9b%9e%e6%aa%94\/#%E9%95%B7%E6%9C%9F%E8%A4%87%E5%88%A9%E5%BE%88%E9%87%8D%E8%A6%81\" >\u9577\u671f\u8907\u5229\u5f88\u91cd\u8981<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2022\/06\/25\/%e5%a6%82%e4%bd%95%e9%9d%a2%e5%b0%8d%e7%9b%ae%e5%89%8d%e8%82%a1%e5%b8%82%e5%b4%a9%e7%9b%a4%e6%88%96%e5%a4%a7%e5%b9%85%e5%9b%9e%e6%aa%94\/#%E4%B8%80%E5%88%87%E5%BF%85%E9%A0%88%E9%87%8D%E6%96%B0%E9%96%8B%E5%A7%8B\" >\u4e00\u5207\u5fc5\u9808\u91cd\u65b0\u958b\u59cb<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2022\/06\/25\/%e5%a6%82%e4%bd%95%e9%9d%a2%e5%b0%8d%e7%9b%ae%e5%89%8d%e8%82%a1%e5%b8%82%e5%b4%a9%e7%9b%a4%e6%88%96%e5%a4%a7%e5%b9%85%e5%9b%9e%e6%aa%94\/#%E5%AE%89%E5%85%A8%E9%82%8A%E9%9A%9B%E5%B7%B2%E7%B6%93%E6%8F%90%E9%AB%98\" >\u5b89\u5168\u908a\u969b\u5df2\u7d93\u63d0\u9ad8<\/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\/06\/25\/%e5%a6%82%e4%bd%95%e9%9d%a2%e5%b0%8d%e7%9b%ae%e5%89%8d%e8%82%a1%e5%b8%82%e5%b4%a9%e7%9b%a4%e6%88%96%e5%a4%a7%e5%b9%85%e5%9b%9e%e6%aa%94\/#%E9%95%B7%E6%9C%9F%E6%8A%95%E8%B3%87%E5%B0%B1%E4%B8%8D%E5%BF%85%E5%AE%B3%E6%80%95\" >\u9577\u671f\u6295\u8cc7\u5c31\u4e0d\u5fc5\u5bb3\u6015<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2022\/06\/25\/%e5%a6%82%e4%bd%95%e9%9d%a2%e5%b0%8d%e7%9b%ae%e5%89%8d%e8%82%a1%e5%b8%82%e5%b4%a9%e7%9b%a4%e6%88%96%e5%a4%a7%e5%b9%85%e5%9b%9e%e6%aa%94\/#%E6%82%A8%E7%9A%84%E7%B5%84%E5%90%88%E8%A3%A1%E7%9A%84%E6%8C%81%E8%82%A1%E5%93%AA%E4%BE%86%E7%9A%84%EF%BC%9F\" >\u60a8\u7684\u7d44\u5408\u88e1\u7684\u6301\u80a1\u54ea\u4f86\u7684\uff1f<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2022\/06\/25\/%e5%a6%82%e4%bd%95%e9%9d%a2%e5%b0%8d%e7%9b%ae%e5%89%8d%e8%82%a1%e5%b8%82%e5%b4%a9%e7%9b%a4%e6%88%96%e5%a4%a7%e5%b9%85%e5%9b%9e%e6%aa%94\/#%E7%9B%B8%E9%97%9C%E6%96%87%E7%AB%A0\" >\u76f8\u95dc\u6587\u7ae0<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E7%9B%AE%E5%89%8D%E5%BE%88%E5%A4%9A%E6%8A%95%E8%B3%87%E4%BA%BA%E5%85%B1%E5%90%8C%E7%9A%84%E5%9B%B0%E6%93%BE\"><\/span>\u76ee\u524d\u5f88\u591a\u6295\u8cc7\u4eba\u5171\u540c\u7684\u56f0\u64fe<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>\u7531\u65bc\u90e8\u843d\u683c\u7684\u4e0a\u7684\u670b\u53cbWilly\u5728\u9031\u672b\u4f86\u4fe1\u63d0\u5230\u4eca\u5e74\u4ee5\u4f86\u7f8e\u80a1\u5927\u8dcc\uff0c\u904e\u53bb\u5169\u4e09\u5e74\u7d2f\u7a4d\u7684\u6240\u8cfa\u7684\u9322\u90fd\u5e7e\u4e4e\u8ce0\u4e86\u56de\u53bb\uff0c\u5f15\u8d77\u6295\u8cc7\u4eba\u55aa\u5931\u5c0d\u80a1\u5e02\u7684\u4fe1\u5fc3\u3002\u56e0\u6b64\u4ed6\u60f3\u807d\u4e00\u807d\u6211\u81ea\u5df1\u904e\u53bb\u78b0\u5230\u985e\u4f3c\u5e02\u5834\u5927\u56de\u6a94\u6642\u7684\u7d93\u9a57\uff0c\u7576\u6642\u7684\u5fc3\u5883\uff0c\u4ee5\u53ca\u662f\u5982\u4f55\u6e21\u904e\u7684\u7d93\u9a57\u3002<\/p>\n\n\n\n<p>Willy\u4e0d\u662f\u500b\u6848\uff0c\u6211\u81ea\u5df1\u4f30\u8a08\uff0c\u4ed6\u4e0d\u662f\u55ae\u4e00\u7279\u4f8b\uff0c\u5927\u591a\u6578\u6295\u8cc7\u4eba\u90fd\u78b0\u5230\u4e86\u9019\u6a23\u7684\u56f0\u64fe\u3002\u56e0\u70ba\u904e\u53bb\u4e09\u500b\u6708\uff0c\u8d77\u78bc\u5c31\u6709\u4e09\u4f4d\u670b\u53cb\u548c\u6211\u8ac7\u904e\u4e00\u6a23\u7684\u56f0\u64fe\uff0c\u4ee5\u53ca\u5f15\u767c\u7684\u6301\u7e8c\u7126\u616e\u3002<\/p>\n\n\n\n<p>\u8a31\u591a\u904e\u53bb\u95dc\u5fc3\u80a1\u5e02\u7684\u6295\u8cc7\u4eba\uff0c\u9010\u6f38\u653e\u68c4\u8ffd\u8e64\u5e02\u5834\u3001\u95dc\u5fc3\u5e02\u5834\u7684\u6642\u9593\u4e5f\u958b\u59cb\u8b8a\u5c11\u4e86\u3001\u6216\u662f\u96e2\u958b\u80a1\u5e02\u3002\u9019\u9ede\u4e5f\u53ef\u4ee5\u5f9e\u6211\u81ea\u5df1\u90e8\u843d\u683c\u7684\u76f8\u95dc\u700f\u89bd\u91cf\u4e0a\u9762\u89c0\u5bdf\u5f97\u51fa\u4f86\u3002<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E6%88%91%E7%9A%84%E7%B6%93%E9%A9%97%E5%88%86%E4%BA%AB\"><\/span>\u6211\u7684\u7d93\u9a57\u5206\u4eab<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E6%88%91%E8%87%AA%E5%B7%B1%E9%81%8E%E5%8E%BB%E7%9A%84%E4%B8%89%E6%AC%A1%E7%B6%93%E9%A9%97\"><\/span>\u6211\u81ea\u5df1\u904e\u53bb\u7684\u4e09\u6b21\u7d93\u9a57<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u6211\u81ea\u5df1\u78b0\u904e\u4e09\u6b21\u7f8e\u80a1\u5927\u8dcc40%\u5de6\u53f3\u7684\u5d29\u76e4\uff08\u4e0d\u5305\u62ec\u73fe\u5728\u9032\u884c\u4e2d\u9019\u6b21\uff0c\u56e0\u70ba\u6703\u7e7c\u7e8c\u63a2\u5e95\u6216\u662f\u6703\u8dcc\u6df1\u53cd\u5f48\uff0c\u6c92\u4eba\u77e5\u9053\uff09\uff1a<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>\u7b2c\u4e00\u6b21\u8f03\u5e74\u8f15\u6642\u6211\u7684\u6295\u8cc7\u7d44\u5408\u6700\u9ad8\u8dcc\u53bb30%\u5de6\u53f3\uff0c2001\u5e74\u7d50\u675f\u6642\u6211\u7684\u6295\u8cc7\u7d44\u5408\u8dcc\u53bb12%\u3002\u6b64\u6b21\u7531\u7db2\u8def\u6ce1\u6cab\u5316\u6240\u5f15\u767c\u7684\u5e02\u5834\u5d29\u76e4\u6301\u7e8c\u7d042\u5e74\u534a\u81f33\u5e74\u3002<\/li>\n\n\n\n<li>\u7b2c\u4e8c\u6b21\u662f\u91d1\u878d\u6d77\u562f\u548c\u6b21\u8cb8\u98a8\u66b4\uff0c\u5e02\u5834\u5728\u6700\u4f4e\u9ede\u6642\u6211\u7684\u6295\u8cc7\u7d44\u5408\u6700\u9ad8\u8dcc\u53bb35%\u5de6\u53f3\uff0c2008\u5e74\u7d50\u675f\u6642\u6211\u7684\u6295\u8cc7\u7d44\u5408\u8dcc\u53bb22%\u3002\u6b64\u6b21\u5d29\u76e4\u6301\u7e8c\u7d041\u5e74\u534a\u81f32\u5e74\u3002<\/li>\n\n\n\n<li>\u7b2c\u4e09\u6b21\u662f2020\u5e74\u6642\u7531\u75ab\u60c5\u6240\u5f15\u767c\uff0c\u5e02\u5834\u5728\u6700\u4f4e\u9ede\u6642\u6211\u7684\u6295\u8cc7\u7d44\u5408\u6700\u9ad8\u8dcc\u53bb\u7d0438%\u5de6\u53f3\uff0c2020\u5e74\u7d50\u675f\u6642\u6211\u7684\u6295\u8cc7\u7d44\u5408\u4e0a\u6f3283%\u3002\u6b64\u6b21\u5d29\u76e4\u53ea\u6709\u6301\u7e8c\u4e0d\u5230\u4e09\u500b\u6708\u3002<\/li>\n<\/ul>\n\n\n\n<p>\u505a\u70ba\u5c0d\u6bd4\uff0c\u5728\u76f8\u540c\u7684\u9019\u4e09\u6bb5\u671f\u9593\uff0c\u6ce2\u514b\u590f\u80a1\u7968\u5831\u916c<a href=\"http:\/\/www.lazyportfolioetf.com\/comparison\/warren-buffett-vs-us-stocks\/\" target=\"_blank\" rel=\"noreferrer noopener\">2008\u5e74\u8ca032.35%\uff0c2000\u8d77\u9023\u4e09\u5e74\u8ca0\u5831\u916c\uff0c2022\u5e74\u81f3\u4eca\u8ca020%<\/a>\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E9%81%8E%E5%8E%BB%E4%B8%89%E6%AC%A1%E6%88%91%E9%83%BD%E5%8A%A0%E7%A2%BC%E8%B2%B7%E9%80%B2\"><\/span>\u904e\u53bb\u4e09\u6b21\u6211\u90fd\u52a0\u78bc\u8cb7\u9032<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u6211\u5728\u9019\u4e09\u6b21\u90fd\u6709\u9032\u5834\u8cb7\u9032\u6211\u89c0\u5bdf\u540d\u55ae\u4e2d\u7684\u80a1\u7968\uff1a<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>\u7b2c\u4e00\u6b21\u6642\u57282001\u5e74\u6642\u8cb7\u4e86\u5e7e\u6a94\u79d1\u6280\u80a1\uff0c\u4ee5\u73fe\u5728\u4f86\u770b\u662f\u5728\u5d29\u76e4\u5f8c\u534a\u671f\u8cb7\u5165\uff1b\u5728\u6211\u7684\u66f8\u4e2d<a href=\"https:\/\/www.books.com.tw\/products\/0010889106?sloc=main\" target=\"_blank\" rel=\"noopener\">\u300a\u8d85\u7d1a\u6210\u9577\u80a1\u6295\u8cc7\u6cd5\u5247\u300b<\/a>\u7684\u81ea\u5e8f\u4e2d\u66fe\u63d0\u904e\u9019\u6bb5\u6545\u4e8b\u3002<\/li>\n\n\n\n<li>\u7b2c\u4e8c\u6b21\u9032\u5834\u8cb7\u4e86\u860b\u679c\u3002<\/li>\n\n\n\n<li>\u7b2c\u4e09\u6b21\u9032\u5834\u8cb7\u4e86\u5fae\u8edf\uff0c\u9019\u90e8\u4efd\u5728\u6211\u5728\u6211\u7684\u66f8\u4e2d<a href=\"https:\/\/www.books.com.tw\/products\/0010889106?sloc=main\" target=\"_blank\" rel=\"noopener\">\u300a\u8d85\u7d1a\u6210\u9577\u80a1\u6295\u8cc7\u6cd5\u5247\u300b<\/a>5-3\u7bc0\u4e2d\u8ac7\u904e\u6211\u662f\u600e\u9ebc\u9078\u64c7\u7684\uff0c\u70ba\u4f55\u6700\u5f8c\u9078\u4e86\u5fae\u8edf\u3002<\/li>\n<\/ul>\n\n\n\n<p>\u9019\u4e09\u6b21\u7684\u8cb7\u9032\u5f8c\uff0c\u5e02\u5834\u90fd\u7e7c\u7e8c\u4e0b\u8dcc\uff0c\u6301\u7e8c\u63a2\u5e95\uff1b\u5c24\u5176\u860b\u679c\u662f\u57282008\u5e74\u4e2d\u958b\u59cb\u8dcc\u4e86\u7d04\u534a\u5e74\u5f8c\u5c31\u8cb7\u9032\uff0c\u56e0\u6b64\u7b49\u4e86\u5f88\u4e45\u624d\u56de\u5230\u7576\u521d\u8cb7\u9032\u7684\u50f9\u683c\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E4%B8%8D%E5%BF%85%E8%A2%AB%E8%BF%AB%E8%B3%A3%E8%82%A1\"><\/span>\u4e0d\u5fc5\u88ab\u8feb\u8ce3\u80a1<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u6709\u4e00\u9ede\u5f88\u91cd\u8981\u662f\u6211\u5f9e\u4e0d\u501f\u9322\u8cb7\u80a1\uff0c\u4e5f\u4e0d\u653e\u7a7a\u3002\u56e0\u6b64\u5373\u4f7f\u5e02\u5834\u8dcc\u5f97\u5f88\u6158\uff0c\u6211\u4e5f\u4e0d\u6703\u878d\u8cc7\u65b7\u982d\uff0c\u4e0d\u6703\u63a5\u5230\u878d\u8cc7\u8ffd\u7e73\u3002\u9019\u9ede\u5176\u5be6\u5fc5\u9808\u63d0\u51fa\u4f86\uff0c\u56e0\u70ba\u82e5\u501f\u9322\u8cb7\u80a1\u7684\u8a71\uff0c\u5728\u5e02\u6cc1\u6158\u70c8\u6642\uff0c\u60a8\u5c31\u5fc5\u9808\u627f\u53d7\u88ab\u8feb\u8ce3\u80a1\u7684\u7a98\u5883\u3002\u53ea\u8981\u88ab\u8feb\u8ce3\u80a1\uff0c\u4e0b\u5834\u4e00\u5b9a\u5f88\u4e0d\u597d\u3002<\/p>\n\n\n\n<p>\u6211\u5728\u90e8\u843d\u683c\u88e1\u5f37\u8abf\u904e\u5f88\u591a\u6b21\uff0c\u5c24\u5176\u6563\u6236\u5343\u842c\u4e0d\u8981\u8f15\u6613\u5690\u8a66\u653e\u7a7a\u6216\u501f\u9322\uff0c\u4f46\u5f88\u5c11\u4eba\u540c\u610f\uff0c\u7279\u5225\u662f\u5e74\u8f15\u4eba\u5e7e\u4e4e\u90fd\u4e0d\u540c\u610f\u3002<\/p>\n\n\n\n<p>\u725b\u5e02\u548c\u5e02\u5834\u627f\u5e73\u6642\uff0c\u4e00\u518d\u52f8\u6295\u8cc7\u4eba\u4e0d\u8981\u501f\u9322\u8cb7\u80a1\u7968\uff0c\u6c92\u4eba\u6703\u807d\u7684\u3002\u4f46\u53ea\u8981\u60a8\u63a5\u63a5\u904e\u4e00\u6b21\u878d\u8cc7\u8ffd\u7e73\uff0c\u8f38\u5149\u76ee\u524d\u90e8\u4f4d\uff0c\u751a\u81f3\u65bc\u50be\u5bb6\u76ea\u7522\u6642\uff1b\u4e0d\u7528\u52f8\uff0c\u53ea\u9700\u4e00\u6b21\uff0c\u4e00\u8f29\u5b50\u5c31\u6703\u8a18\u5f97\u3002<\/p>\n\n\n\n<p>\u53cd\u4e4b\uff0c\u5949\u52f8\u4e00\u822c\u6295\u8cc7\u4eba\u4e0d\u8981\u8f15\u6613\u653e\u7a7a\uff0c\u8aaa\u518d\u591a\u6b21\u90fd\u6c92\u7528\u3002\u4f46\u662f\u53ea\u8981\u7d93\u6b77\u904e\u4e00\u6b21\uff0c\u5728\u725b\u5e02\u6642\u653e\u7a7a\u7684\u76ee\u6a19\u88ab\u8ecb\u7a7a\u3002\u6700\u597d\u662f\uff0c\u4ee4\u5238\u5546\u88ab\u8feb\u8ce3\u5149\u60a8\u7684\u5e33\u6236\u90e8\u4f4d\u3002\u4e00\u8f29\u5b50\u5c31\u6703\u8a18\u4f4f\u4e86\uff01<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E4%BA%BA%E6%80%A7%E9%A2%A8%E9%9A%AA%E8%B6%A8%E9%81%BF%E5%92%8C%E7%9F%AD%E8%A6%96\"><\/span>\u4eba\u6027\u98a8\u96aa\u8da8\u907f\u548c\u77ed\u8996<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>\u7531\u65bc\u4eba\u6027\u6703\u9078\u64c7\u98a8\u96aa\u8da8\u907f\uff0c\u5728\u78b0\u5230\u5371\u6025\u6642\uff0c\u4eba\u6027\u7684\u81ea\u7136\u53cd\u61c9\u662f\u9078\u64c7\u7576\u4e0b\u773c\u524d\u6700\u77ed\u6216\u6700\u5feb\u7684\u89e3\u6c7a\u65b9\u6848\uff0c\u9003\u96e2\u5e02\u5834\u3002\u53e6\u4e00\u9805\u5f71\u97ff\u5927\u90e8\u4efd\u6295\u8cc7\u4eba\u7684\u6295\u8cc7\u884c\u70ba\u662f\u904e\u65bc\u77ed\u8996\uff0c\u9019\u4e5f\u662f\u4eba\u6027\uff0c\u5f88\u96e3\u907f\u514d\uff0c\u5c24\u5176\u662f\u73fe\u5728\u8cc7\u8a0a\u50b3\u64ad\u5feb\u901f\uff0c\u624b\u6a5f\u4e0b\u55ae\u53ef\u4ee5\u8b93\u4ea4\u6613\u7acb\u5373\u5b8c\u6210\uff0c\u66f4\u7a81\u986f\u4e86\u9019\u4e00\u9ede\uff0c\u8b93\u6295\u8cc7\u4eba\u53ef\u4ee5\u7acb\u5373\u64fa\u812b\u4eba\u6027\u7684\u6399\u624e\u3002<\/p>\n\n\n\n<p>\u591a\u6578\u4eba\u53ea\u91cd\u8996\u77ed\u671f\u6295\u8cc7\u5831\u916c\u7387\uff0c\u60f3\u5230\u7684\u90fd\u662f\u53bb\u5e74\uff0c\u6700\u591a\u662f\u524d\u5e74\u7684\u6295\u8cc7\u5831\u916c\u7387\u3002\u4f46\u662f\u77ed\u671f\u5831\u916c\u771f\u7684\u4e0d\u91cd\u8981\uff0c\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2021\/07\/18\/%E5%A6%82%E4%BD%95%E8%A8%88%E7%AE%97%E6%8A%95%E8%B3%87%E5%A0%B1%E9%85%AC%E7%8E%87%EF%BC%9F\/\" target=\"_blank\" rel=\"noreferrer noopener\">\u6295\u8cc7\u4eba\u8a72\u91cd\u8996\u7684\u662f\u5e74\u5316\u6295\u8cc7\u5831\u916c\u7387\uff08IRR\uff09<\/a>\u300b\u3002<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E6%99%82%E6%A9%9F%E5%92%8C%E9%81%8B%E6%B0%A3\"><\/span>\u6642\u6a5f\u548c\u904b\u6c23<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E5%85%A9%E6%AE%B5%E4%BE%8B%E5%AD%90\"><\/span>\u5169\u6bb5\u4f8b\u5b50<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u7f8e\u80a1\u904e\u53bb\u767e\u5e74\u6709\u5169\u6bb5\u5341\u5e74\u4ee5\u4e0a\uff0c\u80a1\u5e02\u9577\u671f\u5728\u4f4e\u6a94\u7684\u8457\u540d\u6642\u671f\uff1a<\/p>\n\n\n\n<p><a href=\"https:\/\/www.federalreservehistory.org\/essays\/stock-market-crash-of-1929\" target=\"_blank\" rel=\"noopener\">1929\u5e74\u5927\u856d\u689d\u958b\u59cb\uff0c1929\u5e749\u67083\u65e5\u9053\u74ca\u6307\u6578381<\/a>\uff0c\u8981\u4e00\u76f4\u52301954\u5e74\u624d\u53c8\u56de\u5230404.39\uff1b\u4e2d\u9593\u7e3d\u517126\u5e74\uff0c\u60a8\u4e00\u5b9a\u7121\u6cd5\u60f3\u50cf\u7f8e\u80a1\u66fe\u7d93\u6709\u9019\u6bb5\u6b77\u53f2\u3002\u9019\u4e00\u6bb5\u6642\u671f\u9023\u5df4\u83f2\u7279\u90fd\u6ca1\u6709\u7d93\u6b77\u904e\u3002<\/p>\n\n\n\n<p>1966\u5e742\u67089\u65e5\uff0c\u6a19\u666e500\u5275\u4e0b94.06\u7684\u9ad8\u9ede\u300216\u5e74\u904e\u53bb\u5f8c\uff0c1982\u5e748\u670812\u65e5\uff0c\u8a72\u6307\u6578\u53ea\u6709102.42\u9ede\u3002\u4e3b\u56e0\u662f1966\u81f31982\u5e74\u6301\u7e8c16\u5e74\u7684\u9577\u671f\u901a\u81a8\u3002\u7d93\u6fdf\u6210\u9577\u4e0d\u5b9a\uff0c\u901a\u81a8\u4fdd\u6301\u5728\u5169\u4f4d\u6578\uff0c\u80a1\u5e02\u66f4\u662f\u9577\u671f\u4f4e\u8ff7\u3002<\/p>\n\n\n\n<p>\u9664\u975e\u6295\u8cc7\u4eba\u904b\u6c23\u5f88\u5dee\uff08\u9019\u9ede\u6c92\u6709\u4eba\u77e5\u9053\uff09\u78b0\u4e0a1929\u5e74\u62161966\u90a3\u5169\u6b21\u5404\u6301\u7e8c16\u548c26\u5e74\u7684\u9577\u671f\u8c37\u5e95\uff0c\u5426\u5247\u80a1\u5e02\u4e0d\u53ef\u80fd\u4e00\u76f4\u4e0b\u8dcc\uff0c\u80a1\u7968\u8dcc\u5920\u4e86\u7e3d\u6703\u56de\u5f48\u3002\u4f46\u5225\u76f8\u4fe1\u4efb\u4f55\u4eba\u544a\u8a34\u60a8\u8dcc\u5230\u67d0\u500b\u6578\u5b57\u4e00\u5b9a\u6703\u56de\u5347\uff08\u4efb\u4f55\u660e\u78ba\u6307\u51fa\u6642\u9593\u9ede\u6216\u6578\u5b57\u8005\uff0c\u60a8\u53ef\u4ee5100%\u78ba\u5b9a\u4ed6\u5011\u90fd\u662f\u9a19\u5b50\uff09\uff0c\u56e0\u70ba\u80a1\u5e02\u6bd4\u4efb\u4f55\u4eba\u60f3\u5f97\u5230\u7684\u90fd\u8907\u96dc\uff1b<strong>\u9ad8\u5ea6\u4e0d\u53ef\u78ba\u5b9a\u6027\u624d\u662f\u80a1\u5e02\u552f\u4e00\u80fd\u78ba\u5b9a\u7684\u4e8b<\/strong>\uff0c\u9019\u90e8\u4efd\u8acb\u53c3\u898b\u6211\u4e4b\u524d\u7684\u6587\u7ae0\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2021\/10\/02\/%e6%8a%95%e8%b3%87%e8%a3%a1%e7%9a%84%e4%b8%8d%e7%a2%ba%e5%ae%9a%e6%80%a7\/\">\u6295\u8cc7\u88e1\u7684\u4e0d\u78ba\u5b9a\u6027<\/a>\u300b\u3002\u6211\u5728\u8ddd\u4eca\u6b63\u597d\u4e00\u500b\u6708\u524d\u5beb\u904e\u4e00\u7bc7\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2022\/05\/25\/%E4%BB%80%E9%BA%BC%E6%99%82%E5%80%99%E4%BB%A3%E8%A1%A8%E8%82%A1%E5%B8%82%E4%B8%8B%E8%B7%8C%E5%BE%97%E5%A4%A0%E6%B7%B1%E4%BA%86\/\" target=\"_blank\" rel=\"noreferrer noopener\">\u4ec0\u9ebc\u6642\u5019\u4ee3\u8868\u80a1\u5e02\u4e0b\u8dcc\u5f97\u5920\u6df1\u4e86\uff0c2\u500b\u570b\u5bb6\u76843\u500b\u8a0a\u865f<\/a>\u300b\u90e8\u843d\u683c\u6587\u7ae0\uff0c\u6709\u8208\u8da3\u7684\u670b\u53cb\u53ef\u4ee5\u770b\u4e00\u4e0b\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E9%81%8E%E5%8E%BB%E4%B8%89%E5%B9%B4%E7%9A%84%E7%89%9B%E5%B8%82%E4%B8%8D%E6%98%AF%E5%B8%82%E5%A0%B4%E5%B8%B8%E6%85%8B\"><\/span>\u904e\u53bb\u4e09\u5e74\u7684\u725b\u5e02\u4e0d\u662f\u5e02\u5834\u5e38\u614b<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u904e\u53bb\u9019\u4e09\u5e74\u4ee3\u8868\u7f8e\u80a1\u5927\u76e4\u7684\u6a19\u666e500\u6307\u6578\u7684\u5e73\u5747\u5e74\u5316\u5831\u916c\u5206\u5225\u70ba28.88%\u300116.53%\u3001\u548c26.89%\uff0c\u4f46\u662f\u537b\u5438\u5f15\u8a31\u591a\u539f\u672c\u5c0d\u80a1\u5e02\u6295\u8cc7\u6c92\u6709\u6982\u5ff5\u8005\u9032\u5165\u80a1\u5e02\uff0c\u671f\u671b\u81ea\u5df1\u7684\u8cc7\u91d1\u6bcf\u5e74\u80fd\u50cf\u80a1\u5e02\u7684\u5e73\u5747\u8868\u73fe\u4e00\u6a23\u6bcf\u5e74\u589e\u52a020%\u3002<\/p>\n\n\n\n<p><strong>\u8acb\u6ce8\u610f<strong>\u300c<\/strong>\u671f\u671b\u81ea\u5df1\u7684\u8cc7\u91d1\u6bcf\u5e74\u80fd\u50cf\u80a1\u5e02\u7684\u5e73\u5747\u8868\u73fe\u4e00\u6a23\u589e\u52a020%\u300d\u7684\u8a8d\u77e5\u5f9e\u982d\u5230\u5c3e\u90fd\u662f\u932f\u7684<\/strong>\uff0c\u56e0\u70ba\u4eba\u5011\u5047\u8a2d\u904e\u53bb3\u5e74\u7684\u6578\u5b57\u672a\u4f86\u6703\u91cd\u8907\u767c\u751f\uff0c\u4f46\u5982\u6b64\u7684\u6a23\u672c\u671f\u9593\u5be6\u5728\u592a\u77ed\u4e86\uff0c\u5c24\u5176\u662f\u5c0d\u65bc\u9700\u8981\u9577\u671f\u52aa\u529b\u7684\u80a1\u7968\u6295\u8cc7\u6d3b\u52d5\u800c\u8a00\uff0c\u53c3\u8003\u6027\u5be6\u5728\u5f88\u4f4e\u3002\u4f46\u591a\u6578\u4eba\u8a8d\u70ba\u904e\u53bb\u4e09\u5e74\u5927\u76e4\u7684\u6578\u5b57\u8b49\u660e\u9019\u662f\u80a1\u5e02\u6295\u8cc7\u5831\u916c\u7684\u5e73\u5747\u503c\uff0c\u4e0d\u6703\u6df1\u5165\u601d\u8003\u9019\u6a23\u7684\u5831\u916c\u6578\u503c\u662f\u4e0d\u6b63\u5e38\u7684\uff0c\u56e0\u70ba\u6a19\u666e500\u6307\u6578\u81ea\u5f9e\u88ab\u591a\u6578\u4eba\u63a5\u53d7\u505a\u70ba\u7f8e\u80a1\u5e02\u5834\u5927\u76e4\u4ee5\u4f86\u7684\u5e73\u5747\u5e74\u5316\u5831\u916c\u7d047.89%\uff08\u4e0d\u542b\u80a1\u5229\uff09\u3002<\/p>\n\n\n\n<p>\u5982\u679c\u6295\u8cc7\u4eba\u662f\u5728\u9019\u5169\u4e09\u5e74\u624d\u52a0\u5165\u80a1\u5e02\uff0c\u6b63\u597d\u8655\u65bc\u725b\u5e02\u6700\u9ad8\u9ede\uff0c\u5230\u73fe\u5728\u70ba\u6b62\uff0c\u4e0d\u53ef\u80fd\u8cfa\u5230\u9322\u3002\u5927\u90e8\u4efd\u4eba\u6703\u627f\u53d7\u4e0d\u4e86\u58d3\u529b\uff0c\u7acb\u5373\u51fa\u6e05\u80a1\u7968\uff0c\u9019\u4e5f\u662f\u4eba\u4e4b\u5e38\u60c5\u3002\u56e0\u70ba\u7576\u6642\u9032\u5834\u5c31\u5df2\u7d93\u5047\u5b9a\u6bcf\u5e74\u61c9\u8a72\u8981\u670920%\u7684\u5e73\u5747\u5e74\u5316\u5831\u916c\uff1b\u65e2\u7136\u904e\u53bb\u4e09\u5e74\u5982\u6b64\uff0c\u672a\u4f86\u4e5f\u8a72\u5982\u6b64\u3002\u73fe\u5728\u770b\u4f86\u7121\u6cd5\u9054\u6210\uff0c\u70ba\u514d\u773c\u524d\u7684\u8f9b\u82e6\u9322\u5316\u70ba\u70cf\u6709\uff0c\u7d55\u5927\u591a\u6578\u4eba\u6703\u9078\u64c7\u65e9\u65e9\u843d\u888b\u70ba\u5b89\u3002<\/p>\n\n\n\n<h2 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