{"id":48151,"date":"2025-11-08T23:56:00","date_gmt":"2025-11-08T15:56:00","guid":{"rendered":"https:\/\/www.granitefirm.com\/blog\/?p=48151"},"modified":"2025-11-10T18:36:51","modified_gmt":"2025-11-10T10:36:51","slug":"%e6%94%b9%e5%96%84%e4%bc%81%e6%a5%ad%e7%9b%88%e9%a4%98%e7%9a%845%e7%a8%ae%e6%96%b9%e6%b3%95","status":"publish","type":"post","link":"https:\/\/www.granitefirm.com\/blog\/blog\/2025\/11\/08\/%e6%94%b9%e5%96%84%e4%bc%81%e6%a5%ad%e7%9b%88%e9%a4%98%e7%9a%845%e7%a8%ae%e6%96%b9%e6%b3%95\/","title":{"rendered":"\u4f01\u696d\u6539\u5584\u76c8\u9918\u76845\u7a2e\u65b9\u6cd5"},"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\/2025\/11\/08\/%e6%94%b9%e5%96%84%e4%bc%81%e6%a5%ad%e7%9b%88%e9%a4%98%e7%9a%845%e7%a8%ae%e6%96%b9%e6%b3%95\/#%E6%9C%AC%E6%96%87%E7%9A%84%E4%BE%86%E6%BA%90\" >\u672c\u6587\u7684\u4f86\u6e90<\/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\/2025\/11\/08\/%e6%94%b9%e5%96%84%e4%bc%81%e6%a5%ad%e7%9b%88%e9%a4%98%e7%9a%845%e7%a8%ae%e6%96%b9%e6%b3%95\/#%E6%96%87%E7%AB%A0%E9%87%8D%E9%BB%9E\" >\u6587\u7ae0\u91cd\u9ede<\/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\/2025\/11\/08\/%e6%94%b9%e5%96%84%e4%bc%81%e6%a5%ad%e7%9b%88%e9%a4%98%e7%9a%845%e7%a8%ae%e6%96%b9%e6%b3%95\/#%E6%94%B9%E5%96%84%E4%BC%81%E6%A5%AD%E7%9B%88%E9%A4%98%E7%9A%845%E7%A8%AE%E6%96%B9%E6%B3%95\" >\u6539\u5584\u4f01\u696d\u76c8\u9918\u76845\u7a2e\u65b9\u6cd5<\/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\/2025\/11\/08\/%e6%94%b9%e5%96%84%e4%bc%81%e6%a5%ad%e7%9b%88%e9%a4%98%e7%9a%845%e7%a8%ae%e6%96%b9%e6%b3%95\/#%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%9C%AC%E6%96%87%E7%9A%84%E4%BE%86%E6%BA%90\"><\/span>\u672c\u6587\u7684\u4f86\u6e90<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>\u5df4\u83f2\u72791977\u5e74\u5728\u300a\u8ca1\u661f\u96dc\u8a8c\u300b\u89aa\u81ea\u64cd\u5200\uff0c\u5beb\u904e\u4e00\u7bc7\u7559\u540d\u9752\u53f2\u7684\u6587\u7ae0\u300a<a href=\"https:\/\/fortune.com\/2011\/06\/12\/buffett-how-inflation-swindles-the-equity-investor-fortune-classics-1977\/\" target=\"_blank\" rel=\"noreferrer noopener\">\u901a\u81a8\u600e\u6a23\u638f\u7a7a\u80a1\u7968\u6295\u8cc7\u4eba\uff08Buffett: How inflation swindles the equity investor\uff09<\/a>\u300b\u3002<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E6%96%87%E7%AB%A0%E9%87%8D%E9%BB%9E\"><\/span>\u6587\u7ae0\u91cd\u9ede<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>\u6587\u7ae0\u7684\u6458\u8981\u5982\u4e0b<strong>\uff1a<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>\u5728\u901a\u81a8\u4e2d\uff0c\u50b5\u5238\u6295\u8cc7\u8005\u5c07\u906d\u53d7\u91cd\u5927\u640d\u5931\uff0c\u800c\u80a1\u7968\u6295\u8cc7\u8005\u4e5f\u597d\u4e0d\u5230\u54ea\u88cf\u53bb<strong>\u3002<\/strong><\/li>\n\n\n\n<li>\u80a1\u7968\u7684\u5206\u6790\u601d\u8def\u548c\u50b5\u5238\u985e\u4f3c\u3002<\/li>\n\n\n\n<li>\u5728\u4f4e\u901a\u81a8\u7684\u74b0\u5883\u4e0b\uff0c\u80a1\u7968\u7684\u6de8\u8cc7\u7522\u6536\u76ca\u7387\u76f8\u6bd4\u50b5\u5238\u6536\u76ca\u7387\u6709\u66f4\u597d\u7684\u5438\u5f15\u529b\u3002\u6295\u8cc7\u8005\u5728\u4f4e\u901a\u81a8\u7684\u74b0\u5883\u4e0b\uff0c\u7372\u5f97\u4e86\u4ee5\u4e0b\u7684\u4e09\u91cd\u597d\u8655\uff1a<\/li>\n<\/ul>\n\n\n\n<p>\uff081\uff09\u516c\u53f8\u7684\u6de8\u8cc7\u7522\u6536\u76ca\u7387\u9060\u5927\u65bc\u57fa\u6e96\u5229\u7387\uff1b<\/p>\n\n\n\n<p>\uff082\uff09\u6b78\u5c6c\u65bc\u6295\u8cc7\u8005\u7684\u672a\u5206\u914d\u5229\u6f64\u7e7c\u7e8c\u7559\u5728\u516c\u53f8\u5167\u90e8\uff0c\u9019\u90e8\u5206\u80fd\u5920\u7372\u5f97\u8207\u6de8\u8cc7\u7522\u6536\u76ca\u7387\u76f8\u7576\u7684\u56de\u5831\uff1b<\/p>\n\n\n\n<p>\uff083\uff09\u5728\u5229\u7387\u4e0d\u65b7\u8d70\u4f4e\u7684\u904e\u7a0b\u4e2d\uff0c\u80a1\u7968\u7684\u4f30\u503c\u5f97\u4ee5\u63d0\u9ad8\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>\u6295\u8cc7\u8005\u8981\u6c42\u7684\u80a1\u6771\u6b0a\u76ca\u56de\u5831\u7387\u6bd4\u50b5\u5238\u56de\u5831\u8981\u9ad8\uff0c\u4f46\u5be6\u969b\u4e0a\uff0c\u7d9c\u5408\u8003\u616e5\u7a2e\u63d0\u5347\u80a1\u7968\u6de8\u8cc7\u7522\u6536\u76ca\u7387\u7684\u65b9\u6cd5\uff0c\u5df4\u83f2\u7279\u767c\u73fe\u80a1\u7968\u7684\u6de8\u8cc7\u7522\u56de\u5831\u7387\u4e26\u6c92\u6709\u5728\u901a\u81a8\u74b0\u5883\u4e2d\u5f97\u5230\u63d0\u9ad8\u3002<\/li>\n\n\n\n<li>\u5728\u76f8\u540c\u7684\u6de8\u8cc7\u7522\u6536\u76ca\u7387\u4e0b\uff0c\u4f4e\u69d3\u687f\u6c34\u5e73\u516c\u53f8\u7684\u76c8\u9918\u8cea\u91cf\u8981\u9060\u597d\u65bc\u9ad8\u69d3\u6746\u6c34\u5e73\u516c\u53f8\u3002<\/li>\n\n\n\n<li>\u7d55\u5927\u591a\u6578\u516c\u53f8\u4e26\u6c92\u6709\u5728\u901a\u81a8\u4e0b\u8f49\u79fb\u6210\u672c\u3001\u64f4\u5927\u6216\u7dad\u6301\u5229\u6f64\u7387\u7684\u80fd\u529b\u3002<\/li>\n\n\n\n<li>\u5728\u901a\u8ca8\u81a8\u8139\u4e0b\uff0c\u4f4e\u4f30\u503c\u662f\u5c0d\u50f9\u503c\u6295\u8cc7\u8005\u7684\u4e00\u7a2e\u4fdd\u8b77\u3002<\/li>\n\n\n\n<li>\u548c\u5e73\u6642\u671f\u7684\u901a\u81a8\u66f4\u591a\u662f\u653f\u6cbb\u554f\u984c\u800c\u975e\u7d93\u6fdf\u554f\u984c\u3002\u6c92\u6709\u4eba\u80fd\u5920\u6e96\u78ba\u9810\u6e2c\u901a\u81a8\u3002\u4f46\u5df4\u83f2\u7279\u7684\u78ba\u8a8d\u70ba\uff0c\u672a\u4f86\u5e7e\u5e74\u7684\u901a\u81a8\u7387\u6703\u7dad\u6301\u5728\u9ad8\u4f4d\u3002<\/li>\n\n\n\n<li>\u901a\u8ca8\u81a8\u8139\u662f\u4e00\u7a2e\u96b1\u5f62\u7684\u7a0e\u6536\uff0c\u5373\u4f7f\u662f\u80a1\u7968\u6295\u8cc7\u8005\uff0c\u5728\u9ad8\u901a\u81a8\u4e0b\uff0c\u5be6\u969b\u8cfc\u8cb7\u529b\u662f\u4e0b\u964d\u7684\u3002<\/li>\n\n\n\n<li>\u500b\u4eba\u61c9\u5c0d\u9ad8\u901a\u81a8\u6700\u597d\u7684\u8fa6\u6cd5\uff0c\u5728\u65bc\u63d0\u5347\u81ea\u5df1\u7684\u8b70\u50f9\u80fd\u529b\u3002<\/li>\n\n\n\n<li>\u300c\u52ab\u5bcc\u6fdf\u8ca7\u300d\u7121\u6cd5\u7d66\u8ca7\u56f0\u4eba\u7fa3\u63d0\u4f9b\u54ea\u6015\u662f\u66ab\u6642\u6027\u7684\u5e6b\u52a9\uff0c\u6b63\u78ba\u7684\u505a\u6cd5\u662f\u5f15\u5c0e\u8cc7\u672c\u6295\u5165\u73fe\u4ee3\u751f\u7522\u529b\uff0c\u63d0\u9ad8\u7d93\u6fdf\u751f\u7522\u529b\u3002<\/li>\n\n\n\n<li>\u9ad8\u901a\u81a8\u63d0\u9ad8\u4e86\u4f01\u696d\u8cc7\u672c\u652f\u51fa\u7684\u4ee3\u50f9\uff0c\u5f9e\u800c\u6291\u5236\u4e86\u4f01\u696d\u56de\u994b\u80a1\u6771\u7684\u80fd\u529b\u3002<\/li>\n\n\n\n<li>\u5728\u9ad8\u901a\u81a8\u4e0b\uff0c\u653f\u5e9c\u5f80\u5f80\u6703\u5c0d\u8cc7\u672c\u65bd\u52a0\u5e79\u9810\uff0c\u4ee5\u523a\u6fc0\u8cc7\u672c\u6d41\u5411\u5de5\u696d\u90e8\u9580\u3002<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E6%94%B9%E5%96%84%E4%BC%81%E6%A5%AD%E7%9B%88%E9%A4%98%E7%9A%845%E7%A8%AE%E6%96%B9%E6%B3%95\"><\/span><strong>\u6539\u5584\u4f01\u696d\u76c8\u9918\u76845\u7a2e\u65b9\u6cd5<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>\u9019\u7a2e\u6b0a\u76ca\u50b5\u523812%\u7684\u6536\u76ca\u7387\u8a3b\u5b9a\u6703\u4e00\u6210\u4e0d\u8b8a\u55ce\uff1f\u662f\u5426\u5b58\u5728\u7740\u67d0\u689d\u6cd5\u5f8b\u7981\u6b62\u516c\u53f8\u63d0\u9ad8\u5176\u6de8\u8cc7\u7522\u56de\u5831\u7387\u4ee5\u61c9\u5c0d\u4f3c\u4e4e\u6c38\u9060\u5728\u4e0d\u65b7\u6500\u5347\u7684\u901a\u8ca8\u81a8\u8139\u7387\uff1f<\/p>\n\n\n\n<p>\u7576\u7136\uff0c\u9019\u689d\u6cd5\u5f8b\u662f\u4e0d\u5b58\u5728\u7684\u3002\u4f46\u53e6\u4e00\u65b9\u9762\uff0c\u7f8e\u570b\u516c\u53f8\u7684\u76c8\u9918\u4e5f\u4e0d\u80fd\u7531\u671f\u671b\u548c\u653f\u5e9c\u6307\u4ee4\u4f86\u8a2d\u5b9a\u3002<\/p>\n\n\n\n<p>\u70ba\u4e86\u589e\u52a0\u6de8\u8cc7\u7522\u56de\u5831\u7387\uff0c\u516c\u53f8\u5fc5\u9808\u505a\u5230\u4e0b\u5217\u4e2d\u7684\u4e00\u9805:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>\u63d0\u9ad8\u9031\u8f49\u7387\u3002\u4f8b\u5982\u5728\u4f01\u696d\u5167\u90e8\u63a1\u7528\u92b7\u552e\u548c\u7e3d\u8cc7\u7522\u7684\u9031\u8f49\u7387\uff1b<\/li>\n\n\n\n<li>\u66f4\u5ec9\u50f9\u7684\u69d3\u687f\uff1b<\/li>\n\n\n\n<li>\u66f4\u591a\u7684\u69d3\u687f\uff1b<\/li>\n\n\n\n<li>\u66f4\u4f4e\u7684\u6240\u5f97\u7a0e\uff1b<\/li>\n\n\n\n<li>\u66f4\u9ad8\u7684\u92b7\u552e\u5229\u6f64\u7387\u3002<\/li>\n<\/ul>\n\n\n\n<p>\u5c31\u9019\u9ebc\u591a\uff0c\u61c9\u8a72\u6c92\u6709\u5176\u4ed6\u7684\u65b9\u6cd5\u80fd\u5920\u63d0\u9ad8\u6de8\u8cc7\u7522\u56de\u5831\u7387\u4e86\u3002<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"150\" height=\"150\" src=\"https:\/\/www.granitefirm.com\/blog\/wp-content\/uploads\/2024\/04\/earning-Custom.jpg\" alt=\"\u76c8\u9918\" class=\"wp-image-48182\"\/><figcaption class=\"wp-element-caption\">credit: Gemini<\/figcaption><\/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\/11\/08\/%e6%94%b9%e5%96%84%e4%bc%81%e6%a5%ad%e7%9b%88%e9%a4%98%e7%9a%845%e7%a8%ae%e6%96%b9%e6%b3%95\/\">\u4f01\u696d\u6539\u5584\u76c8\u9918\u76845\u7a2e\u65b9\u6cd5<\/a>\u300b<\/li>\n\n\n\n<li>\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2022\/05\/10\/%E5%88%A4%E6%96%B7%E7%B6%93%E7%87%9F%E5%9C%91%E9%9A%8A%E7%9A%84%E8%B2%A1%E5%8B%99%E6%8C%87%E6%A8%99%E8%82%A1%E6%9D%B1%E6%AC%8A%E7%9B%8A%E5%A0%B1%E9%85%AC%E7%8E%87\/\" target=\"_blank\" rel=\"noreferrer noopener\">\u5224\u65b7\u7d93\u71df\u5711\u968a\u7684\u6700\u91cd\u8981\u76841\u9805\u8ca1\u52d9\u6307\u6a19\uff1a\u80a1\u6771\u6b0a\u76ca\u5831\u916c\u7387\uff08ROE\uff09<\/a>\u300b<\/li>\n\n\n\n<li>\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2022\/07\/23\/%e6%9c%80%e7%b0%a1%e5%96%ae%e7%9a%84%e8%b2%a1%e5%8b%99%e6%8c%87%e6%a8%99%e6%af%9b%e5%88%a9%e7%8e%87\/\" target=\"_blank\" rel=\"noreferrer noopener\">\u7528\u4f86\u5224\u65b7\u7d93\u71df\u5711\u968a\u57f7\u884c\u529b\u6700\u7c21\u55ae\u76841\u5927\u8ca1\u52d9\u6307\u6a19\uff1a\u6bdb\u5229\u7387\uff08Gross Margin<\/a><a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2022\/05\/10\/%E5%88%A4%E6%96%B7%E7%B6%93%E7%87%9F%E5%9C%91%E9%9A%8A%E7%9A%84%E8%B2%A1%E5%8B%99%E6%8C%87%E6%A8%99%E8%82%A1%E6%9D%B1%E6%AC%8A%E7%9B%8A%E5%A0%B1%E9%85%AC%E7%8E%87\/\" target=\"_blank\" rel=\"noreferrer noopener\">\uff09<\/a>\u300b<\/li>\n\n\n\n<li>\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2021\/09\/29\/%e6%8a%95%e8%b3%87%e4%ba%ba%e7%9a%84%e5%85%a9%e5%a4%a7%e6%ae%ba%e6%89%8b%e9%80%9a%e8%86%a8%e5%92%8c%e5%88%a9%e7%8e%87\/\">\u6295\u8cc7\u4eba\u7684\u4e09\u5927\u6bba\u624b\uff1a\u901a\u81a8\uff0c\u5229\u7387\uff0c\u548c\u7a05\u8ce6<\/a>\u300b<\/li>\n\n\n\n<li>\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2023\/03\/14\/%e7%82%ba%e4%bd%95%e8%82%a1%e5%83%b9%e6%9c%83%e9%9a%a8%e9%80%9a%e8%86%a8%e8%87%aa%e5%8b%95%e4%b8%8a%e8%aa%bf%ef%bc%9f\/\"><\/a><a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2023\/03\/14\/%e7%82%ba%e4%bd%95%e8%82%a1%e5%83%b9%e6%9c%83%e9%9a%a8%e9%80%9a%e8%86%a8%e8%87%aa%e5%8b%95%e4%b8%8a%e8%aa%bf%ef%bc%9f\/\">\u70ba\u4f55\u80a1\u50f9\u6703\u96a8\u901a\u81a8\u81ea\u52d5\u4e0a\u8abf\uff1f<\/a>\u300b<\/li>\n\n\n\n<li>\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2022\/09\/19\/%e7%be%8e%e5%9c%8b%e6%ad%b7%e5%b9%b4%e9%80%9a%e8%b2%a8%e8%86%a8%e8%84%b9%e7%8e%87%e6%9f%a5%e8%a9%a2\/\">\u7f8e\u570b\u6b77\u5e74\u901a\u8ca8\u81a8\u8139\u7387\u67e5\u8a62\u5668<\/a>\u300b<\/li>\n\n\n\n<li>\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2023\/06\/12\/%e9%80%9a%e8%b2%a8%e8%86%a8%e8%84%b9%e7%92%b0%e5%a2%83%e4%b8%8b%e8%bc%83%e9%81%a9%e5%90%88%e6%8a%95%e8%b3%87%e7%9a%84%e4%bc%81%e6%a5%ad\/\">\u901a\u8ca8\u81a8\u8139\u74b0\u5883\u4e0b\u8f03\u9069\u5408\u6295\u8cc7\u7684\u4f01\u696d<\/a>\u300b<\/li>\n\n\n\n<li><a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2022\/12\/27\/%e9%99%8d%e4%bd%8e%e9%80%9a%e8%86%a8%e6%b3%95%e6%a1%88%e5%b0%8d%e7%be%8e%e8%82%a1%e7%9a%84%e5%bd%b1%e9%9f%bf\/\">\u300a\u964d\u4f4e\u901a\u81a8\u6cd5\u6848\u5c0d\u7f8e\u80a1\u7684\u5f71\u97ff<\/a><span style=\"font-size: revert;\">\u300b<\/span><\/li>\n<\/ul>\n\n\n\n<p><em><strong>\u91cd\u8981\u8072\u660e<\/strong><\/em><\/p>\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>\u5df4\u83f2\u7279\u63d0\u51fa\u7684\u6539\u5584\u4f01\u696d\u76c8\u9918\u76845\u7a2e\u65b9\u6cd5<\/p>\n","protected":false},"author":1,"featured_media":48182,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[98,311,745],"tags":[],"class_list":["post-48151","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-buffett","category-eps","category-roe"],"_links":{"self":[{"href":"https:\/\/www.granitefirm.com\/blog\/wp-json\/wp\/v2\/posts\/48151","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=48151"}],"version-history":[{"count":2,"href":"https:\/\/www.granitefirm.com\/blog\/wp-json\/wp\/v2\/posts\/48151\/revisions"}],"predecessor-version":[{"id":74915,"href":"https:\/\/www.granitefirm.com\/blog\/wp-json\/wp\/v2\/posts\/48151\/revisions\/74915"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.granitefirm.com\/blog\/wp-json\/wp\/v2\/media\/48182"}],"wp:attachment":[{"href":"https:\/\/www.granitefirm.com\/blog\/wp-json\/wp\/v2\/media?parent=48151"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.granitefirm.com\/blog\/wp-json\/wp\/v2\/categories?post=48151"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.granitefirm.com\/blog\/wp-json\/wp\/v2\/tags?post=48151"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}