{"id":22192,"date":"2022-07-18T23:56:00","date_gmt":"2022-07-18T15:56:00","guid":{"rendered":"https:\/\/www.granitefirm.com\/blog\/?p=22192"},"modified":"2025-06-29T20:13:36","modified_gmt":"2025-06-29T12:13:36","slug":"%e7%82%ba%e4%bd%95%e5%a4%9a%e6%95%b8%e4%ba%ba%e6%8a%95%e8%b3%87%e8%82%a1%e7%a5%a8%e6%9c%83%e5%a4%b1%e6%95%97%ef%bc%9f","status":"publish","type":"post","link":"https:\/\/www.granitefirm.com\/blog\/blog\/2022\/07\/18\/%e7%82%ba%e4%bd%95%e5%a4%9a%e6%95%b8%e4%ba%ba%e6%8a%95%e8%b3%87%e8%82%a1%e7%a5%a8%e6%9c%83%e5%a4%b1%e6%95%97%ef%bc%9f\/","title":{"rendered":"\u70ba\u4f55\u591a\u6578\u4eba\u6295\u8cc7\u80a1\u7968\u6703\u5931\u6557\uff1f4\u9805\u76f4\u767d\u7684\u539f\u56e0"},"content":{"rendered":"\n<p>\u9019\u500b\u4e3b\u984c\u539f\u56e0\u548c\u7406\u7531\u6709\u6210\u5343\u4e0a\u767e\u7a2e\uff0c\u96a8\u6642\u4e5f\u4e0d\u4e4f\u6709\u4eba\u8a0e\u8ad6\u904e\u3002\u6211\u60f3\u8abe\u8ff0\u7684\u662f\u6700\u7c21\u55ae\u7684\u4e00\u4e9b\u7406\u7531\uff0c\u800c\u4e14\u662f\u7528\u6700\u76f4\u63a5\u7684\u767d\u8a71\u6587\uff0c\u4e0d\u6703\u62d0\u5f4e\u62b9\u89d2\u3002<\/p>\n\n\n\n<p>\u6211\u66b8\u89e3\u591a\u6578\u4eba\u9119\u8996\u6211\u4ee5\u4e0b\u6240\u8ac7\u7684\u5167\u5bb9\uff08\u539f\u56e0\u6211\u90fd\u70ba\u53cd\u5c0d\u4eba\u58eb\u60f3\u597d\u4e86\uff1a\u9019\u4e9b\u6211\u65e9\u90fd\u77e5\u9053\u4e86\u3001\u592a\u904e\u5e73\u5e38\u3001\u4e86\u7121\u65b0\u610f\u3001\u6253\u5fc3\u5e95\u4e0d\u540c\u610f\u3001\u4e0d\u63a5\u53d7\u3001\u807d\u904e\u4e0a\u5343\u904d\u4e86\uff09\uff0c\u4f46\u6211\u60f3\u8981\u5f37\u8abf\u7684\u662f\u9019\u5e7e\u500b\u554f\u984c\u82e5\u4e0d\u7531\u5927\u90e8\u4efd\u7684\u6295\u8cc7\u4eba\u7684\u5fc3\u5e95\u5fb9\u5e95\u89e3\u6c7a\uff0c\u6295\u8cc7\u80a1\u7968\u5f88\u96e3\u6210\u529f\u8cfa\u5927\u9322\u2500\u2500\u2500\u2500<strong><em>\u6700\u91cd\u8981\u7684\u771f\u7406\u4e0d\u5fc5\u662f\u9ad8\u6df1\u96e3\u4ee5\u7406\u89e3\u7684\uff0c\u7c21\u55ae\u7684\u624d\u662f\u771f\u7406<\/em><\/strong>\u3002<\/p>\n\n\n\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\/18\/%e7%82%ba%e4%bd%95%e5%a4%9a%e6%95%b8%e4%ba%ba%e6%8a%95%e8%b3%87%e8%82%a1%e7%a5%a8%e6%9c%83%e5%a4%b1%e6%95%97%ef%bc%9f\/#%E6%87%B6%E6%83%B0\" >\u61f6\u60f0<\/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\/07\/18\/%e7%82%ba%e4%bd%95%e5%a4%9a%e6%95%b8%e4%ba%ba%e6%8a%95%e8%b3%87%e8%82%a1%e7%a5%a8%e6%9c%83%e5%a4%b1%e6%95%97%ef%bc%9f\/#%E6%89%BE%E8%97%89%E5%8F%A3\" >\u627e\u85c9\u53e3<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2022\/07\/18\/%e7%82%ba%e4%bd%95%e5%a4%9a%e6%95%b8%e4%ba%ba%e6%8a%95%e8%b3%87%e8%82%a1%e7%a5%a8%e6%9c%83%e5%a4%b1%e6%95%97%ef%bc%9f\/#%E4%B8%8D%E9%A1%98%E6%84%8F%E6%94%B9%E8%AE%8A\" >\u4e0d\u9858\u610f\u6539\u8b8a<\/a><\/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\/18\/%e7%82%ba%e4%bd%95%e5%a4%9a%e6%95%b8%e4%ba%ba%e6%8a%95%e8%b3%87%e8%82%a1%e7%a5%a8%e6%9c%83%e5%a4%b1%e6%95%97%ef%bc%9f\/#%E7%9F%AD%E8%A6%96%E7%BC%BA%E4%B9%8F%E8%80%90%E5%BF%83\" >\u77ed\u8996\u7f3a\u4e4f\u8010\u5fc3<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2022\/07\/18\/%e7%82%ba%e4%bd%95%e5%a4%9a%e6%95%b8%e4%ba%ba%e6%8a%95%e8%b3%87%e8%82%a1%e7%a5%a8%e6%9c%83%e5%a4%b1%e6%95%97%ef%bc%9f\/#%E7%B5%90%E8%AB%96\" >\u7d50\u8ad6<\/a><\/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\/07\/18\/%e7%82%ba%e4%bd%95%e5%a4%9a%e6%95%b8%e4%ba%ba%e6%8a%95%e8%b3%87%e8%82%a1%e7%a5%a8%e6%9c%83%e5%a4%b1%e6%95%97%ef%bc%9f\/#%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=\"%E6%87%B6%E6%83%B0\"><\/span>\u61f6\u60f0<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><em><strong>\u9577\u4e45\u4ee5\u4f86\uff0c\u6211\u500b\u4eba\u4e00\u76f4\u90fd\u8a8d\u70ba\u9019\u662f\u6392\u884c\u699c\u7684\u7b2c\u4e00\u540d<\/strong><\/em>\u3002\u5927\u90e8\u4efd\u4eba\u90fd\u4e0d\u9858\u610f\u4e0b\u82e6\u529f\u3001\u61f6\u60f0\u4e0d\u60f3\u82b1\u6642\u9593\u3001\u4e0d\u9858\u610f\u70ba\u81ea\u5df1\u7684\u6210\u529f\u4ed8\u51fa\u76f8\u5c0d\u7684\u5fc3\u529b\uff0c\u53ea\u770b\u5230\u5f88\u5c11\u6578\u4eba\u6295\u8cc7\u6210\u529f\u8cfa\u5927\u9322\u7684\u7d50\u679c\u3002\u53ea\u60f3\u4e0d\u52de\u800c\u7372\u3001\u627e\u6377\u5f91\u3001\u6c42\u660e\u724c\u3001\u52a0\u5165\u6295\u9867\u8001\u5e2b\u4ed8\u8cbb\u7684\u98c6\u80a1\u5217\u8eca\u3001\u66f8\u7c4d\u6216\u671f\u520a\u6c92\u6709\u76f4\u63a5\u5831\u660e\u724c\u6216\u98c6\u80a1\u8005\u90fd\u6703\u88ab\u4e1f\u5230\u4e00\u908a\u3001\u6bcf\u5929\u5982\u8ffd\u661f\u822c\u5730\u8ffd\u9010\u88ab\u5a92\u9ad4\u8ffd\u6367\u523b\u610f\u5851\u9020\u51fa\u7684\u77ed\u671f\u81f4\u5bcc\u795e\u8a71\u548c\u6545\u4e8b\u3002\u5b8c\u5168\u4e0d\u52d5\u9ede\u8166\u7b4b\u53bb\u60f3\u4e00\u4e0b\u9019\u4e9b\u6545\u4e8b\u6839\u672c\u4e0a\u662f\u4e0d\u662f\u5408\u7406\uff1f\u5408\u4e0d\u5408\u908f\u8f2f\uff1f\u7b26\u4e0d\u7b26\u5408\u5e38\u8b58\uff1f\u7a76\u7adf\u662f\u4e0d\u662f\u4e8b\u5be6\uff1f\u81ea\u5df1\u6240\u8ffd\u8e64\u559c\u611b\u7684\u8ca1\u7d93\u5c08\u5bb6\u7684\u5e74\u5316\u6295\u8cc7\u5831\u916c\u6578\u5b57\u7a76\u7adf\u600e\u9ebc\u6a23\uff1f\u6709\u6c92\u6709\u53ef\u884c\u6027\uff1f\u6709\u6c92\u6709\u53ef\u6301\u7e8c\u6027\uff1f\u9069\u5408\u4e00\u822c\u4eba\u63a1\u7528\u55ce\uff1f\u5c0d\u81ea\u5df1\u662f\u4e0d\u662f\u771f\u7684\u6703\u6709\u5e6b\u52a9\u3002<\/p>\n\n\n\n<p>\u6295\u8cc7\u548c\u7d93\u71df\u4e8b\u696d\u7684\u9053\u7406\u662f\u4e00\u6a23\u7684\uff0c\u751a\u81f3\u65bc\u548c\u4e0a\u73ed\u5de5\u4f5c\u6c92\u6709\u4e0d\u540c\u3002\u4e0a\u73ed\u65cf\u4e0b\u4e86\u73ed\u9084\u80fd\u628a\u5de5\u4f5c\u4e1f\u4e00\u908a\uff0c\u4f46\u60a8\u770b\u904e\u90a3\u4e00\u4f4d\u53d7\u4e16\u4eba\u63a8\u5d07\u7684\u6295\u8cc7\u5927\u5e2b\u4e0d\u662f\u7aae\u76e1\u4e00\u751f\uff0c\u6295\u5165\u5168\u90e8\u7684\u6642\u9593\u7684\uff1f\u7d55\u5927\u90e8\u4efd\u53c3\u8207\u80a1\u5e02\u7684\u6295\u8cc7\u4eba\uff08\u81f3\u5c11\u6211\u8a8d\u8b58\u7684\u7d55\u5927\u591a\u6578\u4eba\uff0c\u6c92\u932f\uff0c\u5e7e\u7121\u4f8b\u5916\uff09\uff0c\u6210\u5929\u60f3\u7684\u90fd\u662f\u6700\u597d\u4eca\u5929\u8cb7\u9032\u4e00\u652f\u81ea\u5df1\u90fd\u6c92\u807d\u904e\u7684\u80a1\u7968\uff0c\u660e\u5929\u4e0a\u6f32\u4e00\u842c\u500d\u5f8c\u76f4\u63a5\u9000\u4f11\uff0c\u9019\u5bb6\u516c\u53f8\u7d93\u71df\u4ec0\u9ebc\u696d\u52d9\u4e0d\u60f3\u641e\u61c2\u3001\u8ce0\u9322\u8cfa\u9322\u4e0d\u91cd\u8981\u3001\u9023\u70ba\u4f55\u4e0a\u6f32\u4e5f\u4e0d\u60f3\u77e5\u9053\u3001\u53ea\u60f3\u77e5\u9053\u80a1\u7968\u4ea4\u6613\u4ee3\u865f\u3002<\/p>\n\n\n\n<p>\u300c\u52e4\u80fd\u88dc\u62d9\u300d\u9019\u53e5\u8a71\u5728\u80a1\u7968\u6295\u8cc7\u4e0a\u662f\u6210\u7acb\u7684\uff0c\u56e0\u70ba\u80a1\u7968\u6295\u8cc7\u7684\u9580\u6abb\u5f88\u4f4e\uff0c\u5e7e\u4e4e\u4eba\u4eba\u90fd\u6709\u8cc7\u683c\uff1b\u53ea\u8981\u9577\u671f\u6301\u6709\u548c\u5805\u6301\u52aa\u529b\uff0c\u6295\u8cc7\u80a1\u7968\u8cfa\u9322\u662f\u53ef\u80fd\u7684\uff08\u4f46\u6210\u529f\u8cfa\u5927\u9322\u662f\u53e6\u4e00\u56de\u4e8b\uff09\uff1b\u53ea\u8981\u60a8\u6709\u4e00\u822c\u7684\u667a\u529b\u6c34\u6e96\uff0c\u52a0\u4e0a\u4ed8\u51fa\u52aa\u529b\u3002\u6295\u8cc7\u80a1\u7968\u548c\u9ad8\u667a\u5546\uff0c\u6c92\u6709\u4efb\u4f55\u7684\u95dc\u4fc2\u3002\u4f46\u6158\u7684\u662f\u9019\u4e16\u4e0a\u5927\u90e8\u4efd\u7684\u4eba\u90fd\u53ea\u662f\u81ea\u8a8d\u70ba\u81ea\u5df1\u662f\u8070\u660e\u4eba\uff0c\u5728\u80a1\u7968\u6295\u8cc7\u9019\u4ef6\u4e8b\u4e0a\uff0c\u9019\u4e16\u754c\u4e0a\u5176\u5be6\u4e26\u6c92\u6709\u9019\u9ebc\u591a\u6240\u8b02\u7684\u9ad8\u667a\u5546\u7684\u4eba\u548c\u8070\u660e\u4eba\u3002<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E6%89%BE%E8%97%89%E5%8F%A3\"><\/span>\u627e\u85c9\u53e3<span 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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>\uff09\u3002<\/p>\n\n\n\n<p>\u5e7e\u5341\u5e74\u4f86\u5305\u62ec\u4e3b\u6d41\u7684\u4e2d\u82f1\u6587\u8ca1\u7d93\u5a92\u9ad4\u5728\u718a\u5e02\u6216\u80a1\u5e02\u5d29\u76e4\u6642\u5c0d\u4ed6\u7684\u51b7\u5632\u71b1\u8af7\uff08\u5305\u62ec\u6700\u5177\u4ee3\u8868\u6027\u7684\u7f8e\u80a1\u4e3b\u6d41\u5468\u520a<a href=\"https:\/\/www.barrons.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">\u5df4\u502b\u5468\u520a<\/a>\uff09\uff0c\u53ea\u80fd\u8b49\u660e\u9019\u4e9b\u4eba\u5f8c\u4f86\u61c9\u8a72\u662f\u8981\u591a\u9ebc\u5730\u7121\u5730\u81ea\u5bb9\uff0c\u81f3\u65bc\u9178\u6c11\u5011\u6216\u6295\u8cc7\u5931\u6557\u8005\u5c0d\u4ed6\u7684\u523b\u610f\u653b\u64ca\u90a3\u5c31\u66f4\u5982\u904e\u6c5f\u4e4b\u9bfd\u4e86\u3002\u9019\u4e9b\u8a55\u8ad6\u53ea\u662f\u986f\u793a\u8457\u4e16\u4e0a\u591a\u6578\u7684\u6295\u8cc7\u4eba\u81ea\u5df1\u7684\u7121\u77e5\u548c\u81ea\u5927\u7a0b\u5ea6\u7f77\u4e86\uff0c\u4e8b\u5be6\u4e0a\u9019\u4e00\u5207\u4e26\u7121\u640d\u5df4\u83f2\u7279\u5728\u80a1\u5e02\u6295\u8cc7\u4e0a\u7684\u5730\u4f4d\u3002\u6211\u81ea\u5df1\u6642\u5e38\u85c9\u7531\u8a62\u554f\u300c\u60a8\u5c0d\u5df4\u83f2\u7279\u6295\u8cc7\u6210\u5c31\u7684\u770b\u6cd5\u300d\u4f86\u5f97\u77e5\u4eba\u5011\u5c0d\u6295\u8cc7\u6240\u6301\u7684\u5fc3\u614b\u548c\u6839\u672c\u89c0\u5ff5\u662f\u5426\u6b63\u78ba\uff0c\u9019\u500b\u9593\u984c\u5f88\u7c21\u55ae\uff0c\u4f46\u7b54\u6848\u5f88\u91cd\u8981\u3002<\/p>\n\n\n\n<p>\u591a\u6578\u4eba\u90fd\u662f\u81ea\u5df1\u5728\u80a1\u7968\u6295\u8cc7\u4e0a\u8cfa\u4e86\u9ede\u5c0f\u9322\uff0c\u5c31\u5927\u8072\u56db\u8655\u56b7\u56b7\uff0c\u5f77\u5f7f\u5bb3\u6015\u4e16\u4e0a\u7684\u4eba\u4e0d\u77e5\u9053\u81ea\u5df1\u591a\u82f1\u660e\u3002\u8ce0\u4e86\u9322\u5c31\u958b\u59cb\u602a\u6771\u602a\u897f\u3001\u602a\u5a92\u9ad4\u3001\u602a\u7db2\u7d05\u3001\u602a\u540d\u5634\u3001\u602a\u6295\u9867\u8001\u5e2b\u3001\u602a\u8b49\u5238\u5546\u3001\u602a\u81ea\u5df1\u8b80\u904e\u7684\u66f8\u3001\u602a\u904b\u6c23\u4e0d\u597d\u3001\u602a\u5e02\u5834\u4e0b\u8dcc\u3001\u602a\u4e0a\u5e02\u516c\u53f8\uff1b\u5c31\u662f\u4e0d\u66fe\u6aa2\u8a0e\u904e\u81ea\u5df1\u3002<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E4%B8%8D%E9%A1%98%E6%84%8F%E6%94%B9%E8%AE%8A\"><\/span>\u4e0d\u9858\u610f\u6539\u8b8a<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>\u6295\u8cc7\u4e0d\u662f\u79d1\u5b78\uff0c\u4e0d\u53ef\u80fd\u80fd\u6709\u516c\u5f0f\uff0c\u4f46\u591a\u6578\u6295\u8cc7\u4eba\u90fd\u4e0d\u9858\u76f8\u4fe1\uff1b\u9019\u5df2\u7d93\u662f\u5e7e\u767e\u5e74\u4f86\u88ab\u6b77\u53f2\u548c\u7121\u6578\u53d7\u4eba\u63a8\u5d07\u7684\u6295\u8cc7\u5927\u5e2b\u7684\u5171\u8b58\u4e86\u2500\u2500\u2500\u2500\u6210\u529f\u7684\u6295\u8cc7\u5927\u5e2b\u5e7e\u4e4e\u90fd\u662f\u57fa\u672c\u9762\u7684\u7814\u7a76\u8005\u3002\u4f46\u9019\u6a23\u7121\u6578\u7684\u6210\u529f\u7d93\u9a57\u548c\u4e8b\u5be6\uff0c\u9084\u662f\u7121\u6cd5\u6539\u8b8a\u8a31\u591a\u4eba\u56de\u5230\u6295\u8cc7\u80a1\u5e02\u7684\u6b63\u8ecc\uff0c\u53bb\u4e56\u4e56\u5730\u7814\u7a76\u6295\u8cc7\u4f01\u696d\u7684\u7d93\u71df\u6578\u64da\u3002\u53ea\u56e0\u70ba\u9019\u6a23\u7684\u65b9\u5f0f\u592a\u904e\u67af\u71e5\u3001\u4e4f\u5473\u3001\u8981\u8017\u8cbb\u9f90\u5927\u7684\u6642\u9593\u5fc3\u529b\u3001\u65b9\u6cd5\u592a\u7b28\u3001\u6c92\u6709\u5275\u610f\uff1b<strong><em>\u7e3d\u4e4b\uff0c\u5c31\u662f\u4e0d\u9858\u610f\u811a\u8e0f\u5be6\u5730\u5730\u6162\u6162\u81f4\u5bcc<\/em><\/strong>\u3002<\/p>\n\n\n\n<p>\u53ef\u662f\u591a\u6578\u4eba\u9084\u662f\u4e0d\u4fe1\u90aa\uff0c\u4e0d\u76f8\u4fe1\u6b77\u53f2\u3001\u7d93\u9a57\u3001\u548c\u7121\u6578\u4eba\u7684\u6210\u529f\u6cd5\u5247\uff1b\u8a8d\u70ba\u5e78\u904b\u4e4b\u795e\u6703\u7737\u9867\u81ea\u5df1\uff0c\u76f8\u4fe1\u81ea\u5df1\u80fd\u627e\u5230\u524d\u4eba\u672a\u66fe\u767c\u73fe\u7684\u6578\u5b78\u516c\u5f0f\u6216\u6b66\u529f\u79d8\u7b08\uff0c\u6210\u5929\u62b1\u8457\u8da8\u52e2\u5716\u3001\u770b\u8457\u6280\u8853\u5716\u5f62\u3001\u8a08\u7b97\u5404\u7a2e\u7c4c\u78bc\uff1b\u6216\u662f\u60f3\u85c9\u7531\u69d3\u687f\uff0c\u8cb7\u9032\u5404\u7a2e\u884d\u751f\u6027\u91d1\u878d\u5546\u54c1\uff0c\u5922\u60f3\u4ee5\u5c0f\u535a\u5927\uff0c\u5ffd\u7565\u6bd4\u8ced\u5c0d\u6210\u529f\u6a5f\u7387\u9084\u5927\u7684\u5404\u7a2e\u6f5b\u5728\u98a8\u96aa\u3002\u5176\u81f3\u76f8\u4fe1\u81ea\u5df1\u4e5f\u80fd\u50cf\u6975\u5c11\u6578\u83ef\u723e\u8857\u7684\u91d1\u878d\u5de8\u64d8\uff0c\u57f7\u8ff7\u65bc\u6563\u6236\u53ef\u4ee5\u85c9\u7531\u6578\u5b78\u8a08\u7b97\u548c\u91cf\u5316\u6a21\u578b\uff0c\u80fd\u5920\u9ede\u77f3\u6210\u91d1\uff0c\u627e\u5230\u81f4\u5bcc\u7684\u5bc6\u78bc\u6216\u8907\u96dc\u7684\u6578\u5b78\u516c\u5f0f\u3002<\/p>\n\n\n\n<p>\u73fe\u4ee3\u4eba\u5e7e\u4e4e\u90fd\u662f\u96d9\u85aa\u5bb6\u5ead\uff0c\u591a\u6578\u4eba\u4e0a\u73ed\u662f\u70ba\u4e86\u652f\u4ed8\u6bcf\u500b\u6708\u61c9\u4ed8\u4e0d\u5b8c\u7684\u5e33\u55ae\u3001\u8eca\u8cb8\u3001\u623f\u8cb8\u3001\u4fdd\u96aa\u8cbb\uff1b\u52a0\u4e0a\u6eff\u8db3\u500b\u4eba\u7684\u9762\u5b50\u554f\u984c\u548c\u70ba\u4e86\u7dad\u6301\u6240\u8b02\u7684\u751f\u6d3b\u6c34\u6e96\uff0c\u8a31\u591a\u4eba\u5176\u5be6\u662f\u6708\u5149\u65cf\u3002\u6240\u4ee5\u73fe\u4ee3\u4eba\u56e0\u6b64\u7121\u4e0d\u6316\u7a7a\u5fc3\u601d\uff0c\u5e0c\u671b\u85c9\u7531\u80a1\u7968\u7684\u6295\u8cc7\uff0c\u958b\u62d3\u5de5\u4f5c\u4e3b\u696d\u4e4b\u5916\u7684\u6536\u5165\uff0c\u4ee5\u6e1b\u8f15\u81ea\u5df1\u7684\u58d3\u529b\u3002<\/p>\n\n\n\n<p>\u4f46\u9019\u5957\u73fe\u4ee3\u4e0a\u73ed\u65cf\u90fd\u5949\u70ba\u572d\u81ec\u7684\u751f\u6d3b\u6a21\u5f0f\u548c\u50f9\u503c\u89c0\u5176\u5be6\u6709\u5f88\u5927\u7684\u554f\u984c\u3002\u5f88\u5c11\u4eba\u76f4\u6b63\u9858\u610f\u82b1\u6642\u9593\u53bb\u6aa2\u8996\u6bcf\u500b\u6708\u771f\u6b63\u5fc5\u8981\u7684\u82b1\u8cbb\u662f\u90a3\u4e9b\uff1f\u9019\u4e9b\u5e33\u55ae\u662f\u5fc5\u8981\u7684\u55ce\uff1f\u300c\u5fc5\u8981\u300d\u548c\u300c\u9700\u8981\u300d\u662f\u4e0d\u4e00\u6a23\u7684\u5169\u56de\u4e8b\uff0c\u6211\u627f\u8a8d\u8aaa\u6bd4\u505a\u5bb9\u6613\uff0c\u9019\u9053\u7406\u6bcf\u500b\u4eba\u4e5f\u90fd\u807d\u904e\uff0c\u4f46\u60a8\u66fe\u82b1\u5fc3\u601d\u6aa2\u8996\u904e\u4e86\u55ce\uff1f\u60a8\u82e5\u7121\u6cd5\u5206\u8fa6\u300c\u5fc5\u8981\u300d\u548c\u300c\u9700\u8981\u300d\u5169\u8005\u7684\u5dee\u5225\uff0c\u5f88\u5927\u7684\u6a5f\u7387\u60a8\u5230\u9000\u4f11\u90fd\u6703\u662f\u6708\u5149\u65cf\uff0c\u4e2d\u9593\u7684\u5dee\u5225\u53ea\u662f\u9000\u4f11\u6642\u958b\u7684\u8eca\u7531\u570b\u7522\u8eca\u8b8a\u9032\u53e3\u8eca\uff0c\u9000\u4f11\u5f8c\u9084\u5b8c\u623f\u8cb8\u5f97\u5230\u4e00\u8655\u68f2\u8eab\u4e4b\u8655\uff0c\u60a8\u4e00\u751f\u8f9b\u82e6\u6240\u4f86\u7684\u8840\u6c57\u9322\u5927\u90fd\u88ab\u9280\u884c\u7d66\u8cfa\u8d70\u4e86\uff0c\u4eba\u751f\u7684\u6642\u9593\u7cbe\u83ef\u6b72\u6708\u90fd\u8ca2\u737b\u7d66\u4f01\u696d\uff0c\u4f46\u53ea\u80fd\u9818\u7cca\u53e3\u7684\u6708\u85aa\u5ea6\u65e5\uff0c\u60a8\u6c38\u9060\u4e0d\u53ef\u80fd\u6709\u591a\u9918\u7684\u9322\u548c\u6642\u9593\u53bb\u5b8c\u6210\u81ea\u5df1\u7684\u5922\u60f3\u6216\u63d0\u65e9\u9000\u4f11\uff0c\u8f9b\u82e6\u4e00\u751f\uff0c\u6c38\u9060\u90fd\u662f\u5e33\u55ae\u7684\u5974\u96b8\uff0c\u770b\u4ed6\u4eba\u7684\u81c9\u8272\u5ea6\u65e5\u3002<\/p>\n\n\n\n<p>\u5728\u9019\u7a2e\u73fe\u5728\u4e0a\u73ed\u65cf\u7684\u76f8\u4e92\u6500\u6bd4\u884c\u70ba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class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"149\" height=\"95\" src=\"https:\/\/www.granitefirm.com\/blog\/wp-content\/uploads\/2022\/09\/f.jpg\" alt=\"\u5931\u6557\" class=\"wp-image-24554\"\/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E7%9F%AD%E8%A6%96%E7%BC%BA%E4%B9%8F%E8%80%90%E5%BF%83\"><\/span>\u77ed\u8996\u7f3a\u4e4f\u8010\u5fc3<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>\u5df4\u83f2\u7279\u66fe\u7d93\u8aaa\u904e\uff1a\u300c<a href=\"https:\/\/www.inc.com\/marcel-schwantes\/warren-buffett-says-success-will-come-after-you-learn-this-1-rare-leadership-trait.html\" target=\"_blank\" rel=\"noreferrer noopener\">\u7121\u8ad6\u5929\u8ce6\u6216\u52aa\u529b\u591a\u9ebc\u5049\u5927\uff0c\u6709\u4e9b\u4e8b\u60c5\u53ea\u662f\u9700\u8981\u6642\u9593\u3002\u4f60\u4e0d\u80fd\u8b93\u4e5d\u500b\u5973\u4eba\u61f7\u5b55\u4e00\u500b\u6708\u5c31\u80fd\u751f\u4e00\u500b\u5b69\u5b50\u3002<\/a>\u300d<\/p>\n\n\n\n<p>\u6240\u6709\u7684\u6295\u8cc7\uff0c\u4e0d\u53ea\u80a1\u7968\uff0c\u5305\u62ec\u623f\u5730\u7522\u3001\u9ec3\u91d1\u3001\u5916\u532f\u3001\u9aa8\u8463\u90fd\u9700\u8981\u6642\u9593\u3002\u4f46<strong><em>\u591a\u6578\u4eba\u53ea\u60f3\u4e00\u591c\u81f4\u5bcc\uff0c\u4e0d\u9858\u610f\u7b49\u5f85<\/em><\/strong>\uff0c\u4e0d\u9858\u8b93\u8cc7\u7522\u767c\u9175\uff0c\u53ea\u60f3\u8d95\u5feb\u62ff\u5230\u4e00\u76de\u963f\u62c9\u4f2f\u795e\u8a71\u88e1\u9762\u7684\u963f\u62c9\u4e01\u795e\u71c8\u3002<\/p>\n\n\n\n<p>\u5373\u4f7f\u60a8\u4e0a\u73ed\u771f\u7684\u5f88\u5fd9\uff0c\u53ea\u6709\u5047\u65e5\u6216\u5076\u723e\u624d\u6709\u6642\u9593\u95dc\u5fc3\u60a8\u7684\u6295\u8cc7\u8cc7\u7d44\u5408\uff1b\u53ef\u4ee5\u8003\u616e\u5927\u76e4ETF\u3002\u53ea\u8981\u6709\u6c7a\u5fc3\uff0c\u4e0d\u8981\u8ddf\u98a8\u6d41\u884c\u6216\u4e82\u8cb7\u4e00\u5806\u5167\u5bb9\u662f\u4ec0\u9ebc\u9023\u7406\u8ca1\u5c08\u54e1\u81ea\u5df1\u90fd\u4e0d\u61c2\u7684\u975e\u5927\u76e4ETF\u3001\u5176\u81f3\u662f\u624b\u7e8c\u8cbb\u9ad8\u5f97\u9a5a\u4eba\uff0c\u9577\u671f\u5831\u916c\u53c8\u88ab\u8b49\u660e\u7d55\u5927\u90e8\u4efd\u90fd\u4e0d\u5982\u80a1\u5e02\u5927\u76e4\u8868\u73fe\u7684\u80a1\u7968\u57fa\u91d1\u3002\u6709\u4e86\u5927\u76e4ETF\uff0c\u60a8\u53ea\u9700\u8981\u8cb7\uff0c\u4efb\u4f55\u60c5\u5f62\u4e0b\u90fd\u4e0d\u8981\u8ce3\uff1b\u9577\u671f\u800c\u8a00\u9084\u662f\u80fd\u7531\u80a1\u5e02\u8cfa\u5230\u4e0d\u5dee\u7684\u5831\u916c\u3002<\/p>\n\n\n\n<p><strong>\u8a3b<\/strong>\uff1a\u56b4\u683c\u4f86\u8aaa\uff0c\u53f0\u7063\u80a1\u5e02\u4e26\u6c92\u6709\u4efb\u4f55\u4e00\u6a94ETF\u662f\u53f0\u80a1\u7684\u5927\u76e4ETF\uff08\u6211\u6307\u7684\u662f\u5b8c\u5168\u8ffd\u8e64\u53f0\u80a1\u52a0\u6b0a\u6307\u6578\uff09\uff0c\u50cf\u7f8e\u80a1\u7684IVV\u6216VOO\u624d\u662f\u8ffd\u8e64\u7f8e\u80a1\u7684\u5927\u76e4ETF\u3002\u6b64\u5916\uff0c\u71b1\u9580\u7684\u9ad8\u80a1\u606fETF\u4e26\u4e0d\u662f\u5927\u76e4ETF\u3002<\/p>\n\n\n\n<p>\u7d55\u5927\u591a\u6578\u6295\u8cc7\u4eba\u5728\u725b\u5e02\u6216\u8cfa\u9322\u6642\u90fd\u4fe1\u8a93\u65e6\u65e6\u8981\u9032\u884c\u9577\u671f\u6295\u8cc7\uff0c\u8a8d\u70ba\u6642\u9593\u8907\u5229\u6709\u7406\uff1b\u4f46\u4e00\u5230\u718a\u5e02\u548c\u5d29\u76e4\uff0c\u99ac\u4e0a\u51fa\u6e05\u624b\u4e0a\u7684\u90e8\u4f4d\uff0c\u96e2\u5834\u7576\u89c0\u773e\uff0c\u9084\u6176\u5e78\u81ea\u5df1\u8ce3\u5f97\u5feb\uff0c\u6709\u5148\u898b\u4e4b\u660e\uff0c\u6697\u81ea\u7aca\u559c\u81ea\u5df1\u771f\u662f\u5929\u624d\uff0c\u9583\u904e\u4e86\u5e02\u5834\u4e0a\u5230\u8655\u843d\u4e0b\u7684\u5229\u5203\u3002<\/p>\n\n\n\n<p>\u628a\u6240\u8b02\u7684\u9577\u671f\u6295\u8cc7\u6216\u662f\u5df4\u83f2\u7279\u57282004\u80a1\u6771\u4fe1\u88e1\u6240\u5beb\u7684\uff1a\u300c\u5225\u4eba\u8caa\u5a6a\u6642\u6211\u5011\u8981\u6050\u61fc\uff0c\u7576\u5225\u4eba\u6050\u61fc\u6642\u6211\u5011\u8981\u8caa\u5a6a\u300d\u5168\u90fd\u5fd8\u5f97\u4e00\u4e7e\u4e8c\u6de8\u3002\u6bcf\u500b\u4eba\u90fd\u8a8d\u70ba\u81ea\u5df1\u771f\u662f\u82f1\u660e\uff0c\u53ef\u4ee5\u7b49\u5230\u5e02\u5834\u53cd\u5f48\uff0c\u660e\u986f\u56de\u5347\u80fd\u8cfa\u9322\uff0c\u5e02\u5834\u5b89\u5168\u4e86\u624d\u91cd\u65b0\u8cb7\u5165\u50f9\u683c\u66f4\u9ad8\u7684\u80a1\u50f9\uff0c\u8ffd\u9010\u66f4\u9ad8\u66f4\u6c92\u6709\u5b89\u5168\u908a\u969b\u7684\u80a1\u50f9\u3002<\/p>\n\n\n\n<p>\u4f46\u771f\u6b63\u8070\u660e\u7684\u662f\u6975\u5c11\u6578\u6295\u8cc7\u4eba\u53cd\u800c\u6703\u5728\u9019\u6a23\u7684\u6642\u5019\u9032\u5834\uff0c\u4e0d\u8cbb\u529b\u6c23\u5f4e\u8170\u64bf\u62fe\u8dcc\u5230\u5408\u7406\u50f9\u4f4d\u7684\u4fbf\u5b9c\u80a1\u7968\uff1b\u56e0\u70ba\u9019\u4e9b\u4ed6\u5011\u89c0\u5bdf\u591a\u5e74\u7684\u6a19\u7684\u5728\u725b\u5e02\u6642\u7684\u80a1\u50f9\u6839\u672c\u88ab\u5e02\u5834\u7092\u4f5c\u5f97\u9ad8\u4e0d\u53ef\u6500\u3002<\/p>\n\n\n\n<p>\u5927\u591a\u6578\u6295\u8cc7\u80a1\u7968\u7684\u4eba\u90fd\u4e0d\u9858\u610f\u9032\u884c\u9577\u671f\u6295\u8cc7\uff0c\u9aa8\u5b50\u88e1\u9762\u9084\u662f\u8a8d\u70ba\u80a1\u5e02\u662f\u8cfa\u5feb\u9322\u7684\u932f\u8aa4\u89c0\u5ff5\u3002\u53ea\u770b\u773c\u524d\u5e7e\u500b\u6708\u751a\u81f3\u5e7e\u5929\u7684\u77ed\u671f\u5229\u76ca\uff08\u9019\u9ede\u5728\u53f0\u7063\u5c24\u5176\u662f\u4e3b\u6d41\uff0c\u5305\u62ec\u6295\u8cc7\u540d\u5634\u3001\u7db2\u7d05\u3001\u8ca1\u7d93\u5a92\u9ad4\u3001\u7db2\u8def\u3001\u4e00\u822c\u5a92\u9ad4\u3001\u6295\u8cc7\u4eba\u81ea\u5df1\uff09\uff0c\u9019\u9ede\u5f88\u81f4\u547d\u2500\u2500\u2500\u2500\u9019\u4e5f\u662f\u7d55\u5927\u591a\u6578\u4eba\u5f9e\u80a1\u5e02\u8cfa\u4e0d\u4e86\u5927\u9322\u7684\u539f\u56e0\u3002<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E7%B5%90%E8%AB%96\"><\/span>\u7d50\u8ad6<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>\u80a1\u5e02\u6bd4\u5927\u591a\u6578\u7684\u6295\u8cc7\u4eba\u60f3\u50cf\u5730\u8907\u96dc\u548c\u4e0d\u53ef\u6e2c\uff08\u8acb\u4e00\u8f29\u5b50\u90fd\u8a18\u4f4f\u9019\u53e5\u8a71\uff09\uff0c\u4e26\u4e0d\u662f\u6240\u6709\u7684\u4eba\u90fd\u9069\u5408\u53c3\u8207\u80a1\u7968\u6295\u8cc7\u4e26\u56e0\u6b64\u81f4\u5bcc\u8cfa\u5927\u9322\u3002\u4e0d\u8ad6\u6295\u8cc7\u6210\u4e0d\u6210\u529f\uff0c\u90fd\u5fc5\u9808\u4fdd\u6301\u8b19\u905c\u3002\u81ea\u4ee5\u70ba\u662f\u3001\u611b\u800d\u5c0f\u8070\u660e\u3001\u6210\u5929\u62b1\u6028\u90fd\u4e0d\u53ef\u80fd\u6210\u529f\u3002<em><strong>\u6295\u8cc7\u6210\u529f\u548c\u662f\u5426\u64c1\u6709\u9ad8\u667a\u5546\u6c92\u6709\u95dc\u4fc2\uff0c\u4f46\u548c\u6027\u60c5\u7d55\u5c0d\u9ad8\u5ea6\u6b63\u76f8\u95dc<\/strong><\/em>\u3002\u82e5\u60f3\u8981\u5728\u80a1\u5e02\u7372\u5f97\u6210\u5c31\uff0c\u81f3\u5c11\u9700\u8981\u50cf\u9019\u4e16\u4e0a\u591a\u6578\u7684\u671d\u4e5d\u665a\u4e94\u7684\u5de5\u4f5c\u8005\u4e00\u6a23\uff0c\u6301\u7e8c\u4ed8\u51fa\u52aa\u529b\uff1b\u9019\u6a23\u505a\u4e0d\u4e00\u5b9a\u80fd\u80fd\u5f9e\u80a1\u5e02\u8cfa\u5927\u9322\u81f4\u5bcc\uff0c\u4f46\u81f3\u624d\u53ef\u4ee5\u8cfa\u9322\u3002<\/p>\n\n\n\n<p>\u6700\u5f8c\uff0c<strong><em>\u8acb\u636b\u5fc3\u81ea\u554f\uff1a\u60a8\u66fe\u7d93\u50cf\u4e0a\u73ed\u4e00\u6a23\u6bcf\u5929\u81f3\u5c11\u4ed8\u51fa8\u5c0f\u6642\u7814\u7a76\u80a1\u5e02\u548c\u60a8\u8cb7\u7684\u80a1\u7968\u55ce<\/em><\/strong>\uff1f\u5982\u679c\u6c92\u6709\uff0c\u90a3\u60a8\u8a8d\u70ba\u60f3\u5f9e\u80a1\u5e02\u8cfa\u53d6\u6bd4\u60a8\u4e0a\u73ed\u9084\u591a\u7684\u5831\u916c\u5408\u7406\u55ce\uff1f<\/p>\n\n\n\n<p>\u4e00\u958b\u59cb\u7684\u671f\u671b\u6709\u8aa4\uff0c\u7d50\u679c\u4e0d\u53ef\u80fd\u5982\u610f\u3002<\/p>\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\/2022\/07\/18\/%e7%82%ba%e4%bd%95%e5%a4%9a%e6%95%b8%e4%ba%ba%e6%8a%95%e8%b3%87%e8%82%a1%e7%a5%a8%e6%9c%83%e5%a4%b1%e6%95%97%ef%bc%9f\/\">\u70ba\u4f55\u591a\u6578\u4eba\u6295\u8cc7\u80a1\u7968\u6703\u5931\u6557\uff1f4\u9805\u76f4\u767d\u7684\u539f\u56e0<\/a>\u300b<\/li>\n\n\n\n<li>\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2025\/05\/11\/%e8%a8%98%e6%86%b6%e5%8a%9b%e5%b0%8d%e6%8a%95%e8%b3%87%e6%88%90%e5%8a%9f%e6%98%af%e4%b8%80%e5%a4%a7%e5%8a%a9%e5%8a%9b\/\">\u8a18\u61b6\u529b\u5c0d\u6295\u8cc7\u6210\u529f\u662f\u4e00\u5927\u52a9\u529b<\/a>\u300b<\/li>\n\n\n\n<li>\u300a<a 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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\">\u76f8\u4fe1\u6210\u529f\u6295\u8cc7\u4eba\u662f\u5016\u5b58\u8005\u504f\u8aa4\u7684\u4eba\u4e0d\u53ef\u80fd\u6210\u529f<\/a>\u300b<\/li>\n\n\n\n<li>\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2021\/09\/10\/%e5%b8%b8%e8%a6%8b%e7%9a%84%e9%8c%af%e8%aa%a4%e6%8a%95%e8%b3%87%e8%a7%80%e5%bf%b5%e5%92%8c%e8%bf%b7%e6%80%9d\/\" target=\"_blank\" rel=\"noreferrer noopener\">\u6563\u6236\u932f\u8aa4\u7684\u6295\u8cc7\u89c0\u5ff5<\/a>\u300b<\/li>\n\n\n\n<li>\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2021\/12\/04\/%E5%A4%A7%E9%83%A8%E4%BB%BD%E6%8A%95%E8%B3%87%E4%BA%BA%E6%87%89%E8%AE%93%E8%B2%B7%E5%A4%A7%E7%9B%A4etf\/\" target=\"_blank\" rel=\"noreferrer 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