{"id":48863,"date":"2025-07-28T23:56:00","date_gmt":"2025-07-28T15:56:00","guid":{"rendered":"https:\/\/www.granitefirm.com\/blog\/?p=48863"},"modified":"2026-05-07T12:18:54","modified_gmt":"2026-05-07T04:18:54","slug":"%e8%89%be%e5%88%a9%e6%96%af%e7%b0%a1%e4%bb%8b%e5%92%8c%e5%ae%83%e7%9a%84%e6%8a%95%e8%b3%87%e7%b5%82%e6%a5%b5%e6%88%b0","status":"publish","type":"post","link":"https:\/\/www.granitefirm.com\/blog\/blog\/2025\/07\/28\/%e8%89%be%e5%88%a9%e6%96%af%e7%b0%a1%e4%bb%8b%e5%92%8c%e5%ae%83%e7%9a%84%e6%8a%95%e8%b3%87%e7%b5%82%e6%a5%b5%e6%88%b0\/","title":{"rendered":"\u67e5\u723e\u65af\uff0e\u827e\u5229\u65af\uff08Charles Ellis\uff09\u7c21\u4ecb\u548c\u4ed6\u5beb\u7684\u300a\u6295\u8cc7\u7d42\u6975\u6230\uff08Winning the Loser\u2019s Game\uff09\u300b"},"content":{"rendered":"\n<p>1975\u5e74\u6642\uff0c\u67e5\u7406\u65af\u00b7\u827e\u7406\u65af\uff08Charles Ellis\uff09\uff0c\u5728\u300a\u91d1\u878d\u5206\u6790\u5e2b\u96dc\u8a8c\u300b\u4e0a\u767c\u8868\u4e86\u4e00\u7bc7\u540d\u70ba\u300a\u5931\u6557\u8005\u7684\u904a\u6232\u300b\uff08The Loser&#8217;s Game\uff09\u7684\u6587\u7ae0\uff0c\u88e1\u9762\u8aaa\u9053\uff1a\u300c<em><strong>\u6295\u8cc7\u7ba1\u7406\u9019\u9805\u696d\u52d9\uff08\u9019\u770b\u8d77\u4f86\u662f\u4e00\u7a2e\u8077\u696d\uff0c\u800c\u5be6\u969b\u4e0a\u4e26\u4e0d\u662f\uff09\u662f\u5efa\u7acb\u5728\u4e00\u500b\u7c21\u55ae\u4e14\u57fa\u672c\u7684\u4fe1\u5ff5\u4e4b\u4e0a\u7684\uff0c\u4e5f\u5c31\u662f\u5c08\u696d\u57fa\u91d1\u7d93\u7406\u53ef\u4ee5\u6230\u52dd\u5e02\u5834\u3002\u7136\u800c\u9019\u500b\u524d\u63d0\u4f3c\u4e4e\u662f\u932f\u7684\u3002<\/strong><\/em>\u300d<\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 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 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href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2025\/07\/28\/%e8%89%be%e5%88%a9%e6%96%af%e7%b0%a1%e4%bb%8b%e5%92%8c%e5%ae%83%e7%9a%84%e6%8a%95%e8%b3%87%e7%b5%82%e6%a5%b5%e6%88%b0\/#%E7%B5%B1%E8%A8%88%E6%95%B8%E5%AD%97\" >\u7d71\u8a08\u6578\u5b57<\/a><\/li><\/ul><\/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\/2025\/07\/28\/%e8%89%be%e5%88%a9%e6%96%af%e7%b0%a1%e4%bb%8b%e5%92%8c%e5%ae%83%e7%9a%84%e6%8a%95%e8%b3%87%e7%b5%82%e6%a5%b5%e6%88%b0\/#%E6%89%93%E6%95%97%E5%A4%A7%E7%9B%A4%E7%9A%84%E5%9B%9B%E7%A8%AE%E5%8F%AF%E8%83%BD\" >\u6253\u6557\u5927\u76e4\u7684\u56db\u7a2e\u53ef\u80fd<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" 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href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2025\/07\/28\/%e8%89%be%e5%88%a9%e6%96%af%e7%b0%a1%e4%bb%8b%e5%92%8c%e5%ae%83%e7%9a%84%e6%8a%95%e8%b3%87%e7%b5%82%e6%a5%b5%e6%88%b0\/#%E7%82%BA%E4%BD%95%E6%8A%95%E8%B3%87%E4%BA%BA%E4%B8%8D%E5%8F%AF%E8%83%BD%E6%89%93%E6%95%97%E5%A4%A7%E7%9B%A4%EF%BC%9F\" >\u70ba\u4f55\u6295\u8cc7\u4eba\u4e0d\u53ef\u80fd\u6253\u6557\u5927\u76e4\uff1f<\/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\/2025\/07\/28\/%e8%89%be%e5%88%a9%e6%96%af%e7%b0%a1%e4%bb%8b%e5%92%8c%e5%ae%83%e7%9a%84%e6%8a%95%e8%b3%87%e7%b5%82%e6%a5%b5%e6%88%b0\/#%E6%8A%95%E8%B3%87%E6%98%AF%E8%BC%B8%E5%AE%B6%E7%9A%84%E9%81%8A%E6%88%B2\" >\u6295\u8cc7\u662f\u8f38\u5bb6\u7684\u904a\u6232<\/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\/2025\/07\/28\/%e8%89%be%e5%88%a9%e6%96%af%e7%b0%a1%e4%bb%8b%e5%92%8c%e5%ae%83%e7%9a%84%e6%8a%95%e8%b3%87%e7%b5%82%e6%a5%b5%e6%88%b0\/#%E9%87%8D%E9%BB%9E%E4%B8%8D%E6%98%AF%E9%81%B8%E8%82%A1\" >\u91cd\u9ede\u4e0d\u662f\u9078\u80a1<\/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\/2025\/07\/28\/%e8%89%be%e5%88%a9%e6%96%af%e7%b0%a1%e4%bb%8b%e5%92%8c%e5%ae%83%e7%9a%84%e6%8a%95%e8%b3%87%e7%b5%82%e6%a5%b5%e6%88%b0\/#%E6%8A%95%E8%B3%87%E4%BA%BA%E4%B8%8D%E6%9A%B8%E8%A7%A3%E8%87%AA%E5%B7%B1\" >\u6295\u8cc7\u4eba\u4e0d\u66b8\u89e3\u81ea\u5df1<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2025\/07\/28\/%e8%89%be%e5%88%a9%e6%96%af%e7%b0%a1%e4%bb%8b%e5%92%8c%e5%ae%83%e7%9a%84%e6%8a%95%e8%b3%87%e7%b5%82%e6%a5%b5%e6%88%b0\/#%E9%95%B7%E6%9C%9F%E6%8A%95%E8%B3%87\" >\u9577\u671f\u6295\u8cc7<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2025\/07\/28\/%e8%89%be%e5%88%a9%e6%96%af%e7%b0%a1%e4%bb%8b%e5%92%8c%e5%ae%83%e7%9a%84%e6%8a%95%e8%b3%87%e7%b5%82%e6%a5%b5%e6%88%b0\/#%E9%95%B7%E6%9C%9F%E6%8A%95%E8%B3%87%E7%9A%84%E5%84%AA%E5%8B%A2\" >\u9577\u671f\u6295\u8cc7\u7684\u512a\u52e2<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2025\/07\/28\/%e8%89%be%e5%88%a9%e6%96%af%e7%b0%a1%e4%bb%8b%e5%92%8c%e5%ae%83%e7%9a%84%e6%8a%95%e8%b3%87%e7%b5%82%e6%a5%b5%e6%88%b0\/#%E6%99%82%E9%96%93%E6%98%AF%E7%84%A1%E5%83%B9%E7%9A%84\" 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ez-toc-heading-19\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2025\/07\/28\/%e8%89%be%e5%88%a9%e6%96%af%e7%b0%a1%e4%bb%8b%e5%92%8c%e5%ae%83%e7%9a%84%e6%8a%95%e8%b3%87%e7%b5%82%e6%a5%b5%e6%88%b0\/#%E6%8A%95%E8%B3%87%E8%A6%81%E6%9C%89%E7%AD%96%E7%95%A5\" >\u6295\u8cc7\u8981\u6709\u7b56\u7565<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-20\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2025\/07\/28\/%e8%89%be%e5%88%a9%e6%96%af%e7%b0%a1%e4%bb%8b%e5%92%8c%e5%ae%83%e7%9a%84%e6%8a%95%e8%b3%87%e7%b5%82%e6%a5%b5%e6%88%b0\/#%E5%AF%AB%E4%B8%8B%E8%87%AA%E5%B7%B1%E7%9A%84%E7%AD%96%E7%95%A5\" >\u5beb\u4e0b\u81ea\u5df1\u7684\u7b56\u7565<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-21\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2025\/07\/28\/%e8%89%be%e5%88%a9%e6%96%af%e7%b0%a1%e4%bb%8b%e5%92%8c%e5%ae%83%e7%9a%84%e6%8a%95%e8%b3%87%e7%b5%82%e6%a5%b5%e6%88%b0\/#%E6%8A%95%E8%B3%87%E7%B5%84%E5%90%88%E7%9A%84%E7%B6%93%E7%87%9F\" >\u6295\u8cc7\u7d44\u5408\u7684\u7d93\u71df<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-22\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2025\/07\/28\/%e8%89%be%e5%88%a9%e6%96%af%e7%b0%a1%e4%bb%8b%e5%92%8c%e5%ae%83%e7%9a%84%e6%8a%95%e8%b3%87%e7%b5%82%e6%a5%b5%e6%88%b0\/#%E9%95%B7%E7%9F%AD%E6%9C%9F%E8%B3%87%E9%87%91\" >\u9577\u77ed\u671f\u8cc7\u91d1<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-23\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2025\/07\/28\/%e8%89%be%e5%88%a9%e6%96%af%e7%b0%a1%e4%bb%8b%e5%92%8c%e5%ae%83%e7%9a%84%e6%8a%95%e8%b3%87%e7%b5%82%e6%a5%b5%e6%88%b0\/#%E9%80%9A%E8%86%A8%E5%92%8C%E8%A4%87%E5%88%A9\" >\u901a\u81a8\u548c\u8907\u5229<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-24\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2025\/07\/28\/%e8%89%be%e5%88%a9%e6%96%af%e7%b0%a1%e4%bb%8b%e5%92%8c%e5%ae%83%e7%9a%84%e6%8a%95%e8%b3%87%e7%b5%82%e6%a5%b5%e6%88%b0\/#%E7%B5%A6%E8%B3%87%E6%B7%B1%E6%88%96%E8%B2%A1%E5%AF%8C%E8%87%AA%E7%94%B1%E8%80%85\" >\u7d66\u8cc7\u6df1\u6216\u8ca1\u5bcc\u81ea\u7531\u8005<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-25\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2025\/07\/28\/%e8%89%be%e5%88%a9%e6%96%af%e7%b0%a1%e4%bb%8b%e5%92%8c%e5%ae%83%e7%9a%84%e6%8a%95%e8%b3%87%e7%b5%82%e6%a5%b5%e6%88%b0\/#%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%8E%A8%E8%96%A6%E6%9C%AC%E6%9B%B8%E7%9A%84%E5%8E%9F%E5%9B%A0\"><\/span>\u63a8\u85a6\u672c\u66f8\u7684\u539f\u56e0<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>\u300a<a href=\"https:\/\/www.amazon.com\/Winning-Losers-Game-Seventh-Strategies\/dp\/1259838048\" target=\"_blank\" rel=\"noreferrer noopener\">\u6295\u8cc7\u7d42\u6975\u6230\uff08Winning the Loser\u2019s Game\uff09<\/a>\u300b\u662f<a href=\"https:\/\/en.wikipedia.org\/wiki\/Charles_D._Ellis\" target=\"_blank\" rel=\"noreferrer noopener\">\u67e5\u723e\u65af\uff0e\u827e\u5229\u65af\uff08Charles D. Ellis\uff09<\/a>\u6700\u8457\u540d\u7684\u4e00\u672c\u66f8\uff0c\u9019\u672c\u66f8\u4e5f\u662f\u6211\u6642\u5e38\u63a8\u85a6\u7d66\u6240\u6709\u4eba\u7684\u5fc5\u8b80\u6295\u8cc7\u7d93\u5178\u66f8\u7c4d\uff0c\u539f\u56e0\u5982\u4e0b\uff1a<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>\u67e5\u723e\u65af\uff0e\u827e\u5229\u65af\u662f\u7f8e\u570b\u6295\u8cc7\u7406\u8ca1\u65f3\u6559\u7236\u7d1a\u4eba\u7269\uff0c\u64c1\u6709\u6578\u5341\u5e74\u6307\u5c0e\u5927\u578b\u57fa\u91d1\u548c\u9577\u6625\u85e4\u540d\u6821\u6821\u7522\u57fa\u91d1\u7684\u5be6\u52d9\u7d93\u9a57\u3002<\/li>\n\n\n\n<li>\u6700\u91cd\u8981\u7684\u662f\uff0c\u4ed6\u4e0d\u53ea\u662f\u7d19\u4e0a\u8ac7\u5175\uff0c\u5728\u4ed6\u7684\u6295\u8cc7\u751f\u6daf\u4e2d\uff0c\u5be6\u969b\u7684\u64cd\u76e4\u548c\u6307\u5c0e\u5927\u578b\u6821\u7522\u57fa\u91d1\u7684\u9577\u671f\u6295\u8cc7\u7e3e\u6548\u50b2\u4eba\uff0c\u5177\u6709\u8aaa\u670d\u529b\u3002<\/li>\n\n\n\n<li>\u9664\u4e86\u5df2\u904e\u4e16\u7684\u9818\u822a\u96c6\u5718\uff08Vanguard Group\uff09&nbsp;\u7684\u6307\u6578\u4e4b\u7236\u7d04\u7ff0\uff0e\u535a\u683c\uff08Jack Bogle\uff09\u5916\uff0c\u67e5\u723e\u65af\uff0e\u827e\u5229\u65af\u5927\u6982\u662f\u8ca1\u7d93\u754c\u63d0\u5021\u6240\u6709\u6295\u8cc7\u4eba\u90fd\u61c9\u7576\u653e\u68c4\u81ea\u884c\u9078\u80a1\u7684\u6295\u8cc7\u65b9\u5f0f\uff0c\u4e0d\u8981\u5984\u60f3\u6253\u6557\u5927\u76e4\uff0c\u61c9\u8a72\u6539\u6295\u8cc7\u6307\u6578\u578b\u57fa\u91d1\u7684\u4ee3\u8868\u578b\u4eba\u7269\u3002<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E8%89%BE%E5%88%A9%E6%96%AF%E7%9A%84%E5%90%8D%E8%A8%80%E5%92%8C%E9%87%8D%E8%A6%81%E7%B5%B1%E8%A8%88\"><\/span>\u827e\u5229\u65af\u7684\u540d\u8a00\u548c\u91cd\u8981\u7d71\u8a08<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E5%90%8D%E8%A8%80%E9%8C%84\"><\/span>\u540d\u8a00\u9304<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u4ee5\u4e0b\u662f\u67e5\u723e\u65af\uff0e\u827e\u5229\u65af\u91cd\u8981\u7684\u540d\u8a00\u5982\u4e0b\uff1a<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>\u300c\u6295\u8cc7\u4eba\u6700\u5927\u7684\u932f\u8aa4\u5c31\u662f\u60f3\u6253\u6557\u5927\u76e4\uff0c\u6563\u6236\u6c38\u9060\u7121\u6cd5\u6253\u6557\u5927\u76e4\u3002\u300d\u67e5\u723e\u65af\uff0e\u827e\u5229\u65af\u8a8d\u70ba\uff1a\u6295\u8cc7\u4eba\u72af\u7684\u6700\u5927\u932f\u8aa4\u5c31\u662f\u8a66\u5716\u64ca\u6557\u5e02\u5834\u3002 \u4f46\u554f\u984c\u662f\uff1a\u8dd1\u8d0f\u5927\u76e4\u7684\u6a5f\u7387\u592a\u4f4e\u4e86\u3002 \u5c0d\u5927\u591a\u6578\u6295\u8cc7\u8005\uff0c\u5c24\u5176\u662f\u6a5f\u69cb\u6295\u8cc7\u8005\u4f86\u8aaa\uff0c\u6230\u52dd\u5e02\u5834\u662f\u4e0d\u53ef\u80fd\u7684\u3002<\/li>\n\n\n\n<li>\u67e5\u723e\u65af\uff0e\u827e\u5229\u65af\u5f62\u5bb9\u4eba\u985e\u5728\u9032\u884c\u6295\u8cc7\u6642\u7684\u4e00\u4e9b\u5929\u6027\uff1a\u300c\u6295\u8cc7\u4eba\u80fd\u5c0d\u81ea\u5df1\u6027\u60c5\u63a7\u5236\u8207\u5426\uff0c\u6c7a\u5b9a\u4e86\u4f60\u6700\u7d42\u7684\u6295\u8cc7\u7e3e\u6548\u3002\u300d\uff0c\u300c\u5982\u679c\u4f60\u60f3\u4ee5\u6295\u8cc7\u505a\u70ba\u81ea\u5df1\u7d42\u8eab\u7684\u8077\u696d\uff0c\u7b2c\u4e00\u4ef6\u5fc5\u9808\u8981\u505a\u7684\u4e8b\u662f\u3000\u201c\u77ad\u89e3\u4f60\u81ea\u5df1\u201d\uff01\u300d<\/li>\n\n\n\n<li>\u300c\u8d0f\u5f97\u52dd\u5229\u7684\u6295\u8cc7\u4eba\u4e0d\u662f\u548c\u4ed6\u4eba\u7af6\u722d\uff0c\u800c\u662f\u548c\u81ea\u5df1\u7af6\u722d\u3002\u300d<\/li>\n\n\n\n<li>\u300c\u4f60\u7684\u6295\u8cc7\u6642\u9593\u67b6\u69cb\u9060\u6bd4\u4f60\u7684\u58fd\u547d\u9577\u5f88\u591a\u3002\u300d<\/li>\n\n\n\n<li>\u300c\u628a\u4f60\u7684\u6295\u8cc7\u6642\u9593\u548c\u65b9\u5f0f\u5340\u5206\u958b\u4f86\uff0c\u4f60\u7684\u6295\u8cc7\u4e26\u4e0d\u6703\u4e0d\u77e5\u9053\u4f60\u7684\u671f\u671b\u6216\u610f\u5716\u3002\u300d<\/li>\n\n\n\n<li>\u300c\u5982\u679c\u67d0\u4e8b\u597d\u5230\u4ee4\u4eba\u96e3\u4ee5\u7f6e\u4fe1\uff0c\u800c\u4e14\u89ba\u5f97\u9019\u6b21\u771f\u7684\u4e0d\u4e00\u6a23\uff0c\u90a3\u5c31\u8868\u793a\u67d0\u4e8b\u7684\u78ba\u597d\u5230\u4e0d\u503c\u5f97\u76f8\u4fe1\uff0c\u6240\u4ee5\u5343\u842c\u5225\u76f8\u4fe1\u3002\u300d<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E7%B5%B1%E8%A8%88%E6%95%B8%E5%AD%97\"><\/span>\u7d71\u8a08\u6578\u5b57<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>\u67e5\u723e\u65af\uff0e\u827e\u5229\u65af\u5728\u4ed6\u7684\u7814\u7a76\u4e2d\u767c\u73fe\uff0c1900\u5e74\uff0c\u7f8e\u570b\u6392\u540d\u524d\u5341\u7684\u4f01\u696d\uff0c50\u5e74\u5f8c\u7121\u4e00\u4f4d\u5217\u524d\u5341\uff0c\u4e0d\u50c5\u5982\u6b64\uff0c\u52c9\u5f37\u5b58\u6d3b\u4e0b\u4f86\u7684\u53ea\u5269\u4e09\u5bb6\u3002<\/li>\n\n\n\n<li>\u9053\u74ca\u6307\u6578\u57281968\u5e74\u548c1982\u5e74\u768414\u5e74\u671f\u9593\u5747\u70ba1000\u9ede\uff0c\u57281964\u5e74\u5e95\u548c1981\u5e74\u5e95\u5747\u70ba875\u9ede\u3002\u4e5f\u5c31\u662f\u8aaa\uff0c\u5728\u90a3\u6f2b\u9577\u768417\u5e74\u88e1\uff0c\u96d6\u7136\u4f01\u696d\u5229\u6f64\u5927\u589e\uff0c\u4f46\u80a1\u7968\u7684\u5927\u76e4\u6beb\u7121\u9032\u5c55\u3002\u539f\u56e0\u662f\u901a\u8ca8\u81a8\u8139\u4f7f\u5229\u7387\u5f9e4\uff05\u6f32\u5230\u4e8615\uff05\uff0c\u9019\u4f7f\u5f97\u672c\u76ca\u6bd4\u5927\u5e45\u964d\u4f4e\u3002<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E6%89%93%E6%95%97%E5%A4%A7%E7%9B%A4%E7%9A%84%E5%9B%9B%E7%A8%AE%E5%8F%AF%E8%83%BD\"><\/span>\u6253\u6557\u5927\u76e4\u7684\u56db\u7a2e\u53ef\u80fd<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>\u4f46\u4f5c\u8005\u7279\u5225\u6307\u51fa\uff1a\u4e0d\u8ad6\u4ee5\u4e0b\u90a3\u4e00\u7a2e\u65b9\u5f0f\uff0c\u5c0d\u4e00\u822c\u6295\u8cc7\u4eba\u800c\u8a00\uff0c\u90fd\u662f\u4e0d\u53ef\u80fd\u7684\u4efb\u52d9\u3002\u56e0\u70ba\u5be6\u969b\u7684\u9577\u671f\u6b77\u53f2\u8cc7\u6599\u548c\u7d71\u8a08\u56de\u6b78\u6548\u61c9\uff0c\u4e0d\u53ef\u80fd\u5b58\u5728\u4e00\u7a2e\u6301\u7e8c\u6709\u6548\uff0c\u800c\u4e14\u9577\u671f\u80fd\u76c8\u5229\u7684\u6295\u8cc7\u65b9\u6cd5\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E6%B3%A2%E6%AE%B5%E6%93%8D%E4%BD%9C\"><\/span>\u6ce2\u6bb5\u64cd\u4f5c<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u6c92\u6709\u4eba\u53ef\u4ee5\u9810\u6e2c\u5e02\u5834\uff0c\u80a1\u5e02\u8f03\u7684\u6f32\u5e45\u901a\u5e38\u53ea\u767c\u751f\u5728\u4e00\u5e74\u4e2d\u5c11\u6578\u5e7e\u5929\uff0c\u4e0d\u53ef\u80fd\u9810\u6e2c\u5f97\u5230\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E9%81%B8%E6%93%87%E7%89%B9%E5%AE%9A%E8%82%A1%E7%A5%A8%E6%88%96%E9%A1%9E%E5%88%A5\"><\/span>\u9078\u64c7\u7279\u5b9a\u80a1\u7968\u6216\u985e\u5225<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u80a1\u7968\u5206\u6790\u5e2b\u5c31\u662f\u5f9e\u4e8b\u9019\u7a2e\u5de5\u4f5c\uff0c\u4f70\u4e8b\u5be6\u8b49\u660e\u4ed6\u5011\u5927\u591a\u6578\u4eba\u4e5f\u8fa6\u4e0d\u5230\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E5%8F%8A%E6%99%82%E6%94%B9%E8%AE%8A%E8%B3%87%E7%94%A2%E9%85%8D%E7%BD%AE%E6%88%96%E6%8A%95%E8%B3%87%E7%AD%96%E7%95%A5\"><\/span>\u53ca\u6642\u6539\u8b8a\u8cc7\u7522\u914d\u7f6e\u6216\u6295\u8cc7\u7b56\u7565<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u9810\u6e2c\u7d93\u6fdf\uff0c\u5229\u7387\uff0c\u71b1\u9580\u7522\u696d\uff0c\u672a\u4f86\u79d1\u6280\u6f6e\u6d41\uff1b\u5922\u60f3\u53ef\u4ee5\u4e00\u8a9e\u4e2d\u7684\uff1b\u4f46\u4e8b\u5be6\u4e0a\u5e7e\u767e\u5e74\u7684\u80a1\u5e02\u6b77\u53f2\uff0c\u4e5f\u6c92\u6709\u4efb\u4f55\u4eba\u53ef\u4ee5\u6b78\u7d0d\u51fa\u516c\u5f0f\u6216\u5e02\u5834\u901a\u5247\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E9%AB%98%E4%BA%BA%E4%B8%80%E7%AD%89%E7%9A%84%E9%95%B7%E6%9C%9F%E6%8A%95%E8%B3%87%E8%A7%80%E5%BF%B5%E6%88%96%E5%93%B2%E5%AD%B8\"><\/span>\u9ad8\u4eba\u4e00\u7b49\u7684\u9577\u671f\u6295\u8cc7\u89c0\u5ff5\u6216\u54f2\u5b78<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u80a1\u5e02\u8b8a\u5e7b\u83ab\u6e2c\uff0c\u53ea\u8981\u6709\u4eba\u60f3\u51fa\u77ed\u671f\u594f\u6548\u7684\u65b9\u6cd5\uff0c\u4e00\u822c\u800c\u8a00\uff0c\u5c31\u6703\u70ba\u4eba\u6240\u4eff\u509a\uff0c\u4e0d\u4e45\u5f8c\u5c31\u7acb\u5373\u5931\u6548\uff0c\u56e0\u70ba\u80a1\u5e02\u6b63\u662f\u6240\u6709\u53c3\u8207\u8005\u7684\u884c\u70ba\u7684\u5c55\u73fe\u3002<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E7%82%BA%E4%BD%95%E6%8A%95%E8%B3%87%E4%BA%BA%E4%B8%8D%E5%8F%AF%E8%83%BD%E6%89%93%E6%95%97%E5%A4%A7%E7%9B%A4%EF%BC%9F\"><\/span>\u70ba\u4f55\u6295\u8cc7\u4eba\u4e0d\u53ef\u80fd\u6253\u6557\u5927\u76e4\uff1f<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E6%8A%95%E8%B3%87%E6%98%AF%E8%BC%B8%E5%AE%B6%E7%9A%84%E9%81%8A%E6%88%B2\"><\/span>\u6295\u8cc7\u662f\u8f38\u5bb6\u7684\u904a\u6232<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u6bd4\u723e\uff0e\u7c73\u52d2\u7684\u80a1\u7968\u57fa\u91d1\u9023\u7e8c15\u5e74\u6253\u6557\u6a19\u666e500\u6307\u6578\uff0c\u5275\u4e0b\u5e74\u5316\u5831\u916c16.5%\u7684\u8a18\u9304\uff08\u6a19\u666e500\u6307\u6578\u662f11.5%\uff09\uff1b\u4f462006\u81f32008\u4e09\u5e74\u7684\u5e74\u5316\u5831\u916c\u8b8a\u6210\u8ca0\u768423.7%\uff08\u6a19\u666e500\u6307\u6578\u662f\u8ca08.4%\uff09\uff01<\/p>\n\n\n\n<p>\u7e3d\u7d50\u4ed6\u7684\u751f\u6daf18\u5e74\u5e74\u5316\u5831\u916c\u70ba8.4%\uff0c\u6a19\u666e500\u6307\u6578\u662f7.9%\u3002\u4f46\u591a\u6578\u7684\u6295\u8cc7\u4eba\u662f\u5728\u4ed6\u751f\u6daf\u5f8c\u671f\u624d\u6295\u5165\u8cc7\u91d1\uff0c\u6240\u4ee5\u591a\u6578\u6295\u8cc7\u4eba\u662f\u8667\u640d\u7684\uff01<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E9%87%8D%E9%BB%9E%E4%B8%8D%E6%98%AF%E9%81%B8%E8%82%A1\"><\/span>\u91cd\u9ede\u4e0d\u662f\u9078\u80a1<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u91cd\u9ede\u662f\u6295\u8cc7\u4eba\u8981\u4e86\u89e3\u81ea\u5df1\u7684\u6295\u8cc7\u76ee\u6a19\uff0c\u8cc7\u7522\u914d\u7f6e\u548c\u6642\u9593\uff0c\u4e0d\u662f\u9078\u80a1\uff1b\u4f46\u591a\u6578\u6295\u8cc7\u4eba\u4e26\u4e0d\u9019\u9ebc\u8a8d\u70ba\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E6%8A%95%E8%B3%87%E4%BA%BA%E4%B8%8D%E6%9A%B8%E8%A7%A3%E8%87%AA%E5%B7%B1\"><\/span>\u6295\u8cc7\u4eba\u4e0d\u66b8\u89e3\u81ea\u5df1<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u55ac\u6cbb\uff0c\u53e4\u5fb7\u66fc\u8868\u793a\uff1a\u300c\u5982\u679c\u4f60\u4e0d\u8a8d\u8b58\u81ea\u5df1\uff0c\u5728\u80a1\u5e02\u5c0b\u627e\u81ea\u6211\u7684\u4ee3\u50f9\u5c07\u6703\u5f88\u6602\u8cb4\u3002\u300d<\/p>\n\n\n\n<p>\u5728\u6295\u8cc7\u7684\u91cd\u8981\u6027\u548c\u6c7a\u5b9a\u6027\u9019\u4ef6\u4e8b\u4e0a\uff0c\u6b63\u78ba\u7684\u6392\u5e8f\u89c0\u5ff5\u61c9\u662f\uff1a(1).\u6295\u8cc7\u4eba\u81ea\u5df1 (2).\u5e02\u5834 (3).\u6295\u8cc7\u7d93\u7406\u3002\u800c\u4e0d\u662f\u4e00\u822c \u4eba\u6240\u8a8d\u70ba\u7684(1).\u6295\u8cc7\u7d93\u7406 (2).\u5e02\u5834 (3).\u6295\u8cc7\u4eba\u81ea\u5df1\uff1b\u9019\u6a23\u5012\u904e\u4f86\u7684\u6b21\u5e8f\u3002<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E9%95%B7%E6%9C%9F%E6%8A%95%E8%B3%87\"><\/span>\u9577\u671f\u6295\u8cc7<br><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E9%95%B7%E6%9C%9F%E6%8A%95%E8%B3%87%E7%9A%84%E5%84%AA%E5%8B%A2\"><\/span>\u9577\u671f\u6295\u8cc7\u7684\u512a\u52e2<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u9577\u671f\u6295\u8cc7\u7684\u8a31\u591a\u597d\u8655\u5982\u4e0b\uff1a<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>\u4e00\u822c\u6295\u8cc7\u4eba\u53ef\u7528\u5b9a\u671f\u5b9a\u984d\uff0c\u53ef\u4ee5\u6d88\u9664\u5229\u7387\u6f32\u8dcc\u7684\u98a8\u96aa\u3002<\/li>\n\n\n\n<li>\u5982\u679c\u4f60\u78ba\u5b9a\u63a1\u7528\u9577\u6642\u9593\u7684\u6295\u8cc7\uff0c\u7b49\u65bc\u66ff\u81ea\u5df1\u6295\u4e86\u4fdd\u96aa\uff0c\u56e0\u70ba\u4f60\u53ef\u4ee5\u6d88\u9664\u5e02\u5834\u4e0d\u53ef\u9810\u6e2c\u7684\u6ce2\u52d5\u98a8\u96aa\u3002<\/li>\n\n\n\n<li>\u9577\u671f\u6295\u8cc7\u8005\uff0c\u5e7e\u4e4e\u53ef\u4ee5\u907f\u514d\u6295\u8cc7\u7684\u56b4\u91cd\u8667\u640d\u7684\u53ef\u80fd\u6027\u3002<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E6%99%82%E9%96%93%E6%98%AF%E7%84%A1%E5%83%B9%E7%9A%84\"><\/span>\u6642\u9593\u662f\u7121\u50f9\u7684<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u6295\u8cc7\u4eba\u5230\u5e74\u7d00\u5f88\u5927\uff0c\u6642\u9593\u90fd\u88ab\u8017\u76e1\u6642\uff0c\u624d\u767c\u73fe\u67e5\u723e\u65af\uff0e\u827e\u5229\u65af\u662f\u5c0d\u7684\uff0c\u4f46\u5df2\u7d93\u592a\u9072\u4e86\u3002\u9019\u6642\u5019\u5171\u540c\u57fa\u91d1\u696d\u8005\u5df2\u8cfa\u98fd\u60a8\u7684\u4fdd\u7ba1\u8cbb\u548c\u624b\u7e8c\u8cbb\uff0c\u7136\u5f8c\u7d66\u60a8\u4e0d\u600e\u6a23\u7684\u9577\u671f\u5831\u916c \uff0c \u901a\u5e38\u6bd4\u5e02\u5834\u5927\u76e4ETF\u7684\u8868\u73fe\u9084\u7cdf\u7cd5\uff0c \u4f46\u70ba\u6642\u5df2\u665a\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E9%95%B7%E6%9C%9F%E5%B9%B4%E5%8C%96%E6%8A%95%E8%B3%87%E5%A0%B1%E9%85%AC%E6%89%8D%E9%87%8D%E8%A6%81\"><\/span>\u9577\u671f\u5e74\u5316\u6295\u8cc7\u5831\u916c\u624d\u91cd\u8981<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u4e00\u5982\u6211\u5148\u524d\u7684\u8cbc\u6587<a href=\"https:\/\/www.granitefirm.com\/blog\/behind-the-scenes\/homework\/%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\/\">\u300a\u6295\u8cc7\u4eba\u61c9\u91cd\u8996\u7684\u662f\u5e74\u5316\u5831\u916c\u7387(IRR)\u300b<\/a>\uff0e\u4e0d\u8981\u53ea\u770b\u5230\u5a92\u9ad4\u63cf\u8ff0\u7684\u7db2\u7d05\u6216\u7d93\u7406\u4eba\uff0c\u5439\u5653\u6709\u591a\u9ebc\u9a5a\u4eba\u7684\u6295\u8cc7\u5831\u916c\u7387\u3002\u4e00\u5982\u6211\u53e6\u4e00\u7bc7\u8cbc\u6587\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2021\/07\/10\/%e5%a6%82%e4%bd%95%e6%aa%a2%e8%a6%96%e4%b8%80%e5%80%8b%e6%88%90%e5%8a%9f%e7%9a%84%e8%82%a1%e5%b8%82%e6%8a%95%e8%b3%87%e4%ba%ba%e6%88%90%e5%8a%9f%e8%83%bd%e5%90%a6%e6%8c%81%e7%ba%8c%ef%bc%9f\/\">\u6295\u8cc7\u4eba\u6210\u529f\u80fd\u5426\u6301\u7e8c\u5982\u4f55\u6aa2\u8996\uff1f3\u9805\u6aa2\u8996\u7684\u6a19\u6e96<\/a>\u300b\u4e2d\u7684\u5167\u5bb9\uff0c\u6295\u8cc7\u7684\u671f\u9650\u8981\u5341\u5e74\u4ee5\u4e0a\uff0c\u6295\u8cc7\u7d44\u5408\u7684\u8cc7\u7522\u8981\u5920\u5927\uff0c\u9577\u671f\u5e74\u5316\u56de\u5831\u7387(IRR)\u8981\u8d85\u904e\u5927\u76e4\u751a\u591a\uff1b\u9019\u4e09\u500b\u689d\u4ef6\u90fd\u7b26\u5408\u624d\u6709\u53c3\u8003\u7814\u7a76\u7684\u50f9\u503c\uff0c\u5426\u5247\u7576\u6210\u5c0f\u8aaa\u6216\u4f5c\u6587\u6bd4\u8cfd\u8b80\u4e00\u8b80\u5c31\u7b97\u4e86\uff0c\u4e0d\u503c\u5f97\u4f60\u82b1\u6642\u9593\u5728\u4e0a\u9762\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E5%8B%BF%E8%90%BD%E5%85%A5%E8%BF%91%E6%9C%9F%E5%81%8F%E8%A6%8B\"><\/span>\u52ff\u843d\u5165\u8fd1\u671f\u504f\u898b<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u67e5\u723e\u65af\uff0e\u827e\u5229\u65af\u7279\u5225\u5728\u66f8\u4e2d\u5f15\u7528\u4e86\u845b\u62c9\u6f22\u5728\u300a\u8b49\u5238\u5206\u6790\u300b\u4e00\u66f8\u4e2d\u7684\u4e00\u53e5\u767c\u4eba\u6df1\u7701\u7684\u8a71\uff1a\u300c\u9577\u671f\u6295\u8cc7\u4eba\u61c9\u8a72\u907f\u514d\u5f9e\u6700\u8fd1\u7d93\u9a57\u88e1\u7684\u4e0d\u5229\u60c5\u52e2\u4e2d\uff0c\u5b78\u7fd2\u592a\u591a\u7684\u6771\u897f\u3002\u300d\u9019\u548c\u5df4\u83f2\u7279\u6240\u4e00\u518d\u5f37\u8abf\u7684\u662f\u4e00\u6a23\u7684\uff0c\u300c\u6295\u8cc7\u4eba\u4e0d\u8981\u4e00\u76f4\u770b\u8457\u5f8c\u8996\u93e1\uff0c\u61c9\u8a72\u8981\u6ce8\u8996\u524d\u65b9\u7684\u64cb\u98a8\u73bb\u7483\u624d\u5c0d\u3002\u300d<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E6%8A%95%E8%B3%87%E8%A6%81%E6%9C%89%E7%AD%96%E7%95%A5\"><\/span>\u6295\u8cc7\u8981\u6709\u7b56\u7565<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E5%AF%AB%E4%B8%8B%E8%87%AA%E5%B7%B1%E7%9A%84%E7%AD%96%E7%95%A5\"><\/span>\u5beb\u4e0b\u81ea\u5df1\u7684\u7b56\u7565<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u300c\u6295\u8cc7\u4eba\u7e3d\u662f\u5728\u80a1\u5e02\u5834\u66b4\u8dcc\u6642\uff0c\u5be7\u9858\u5927\u8ce0\u51fa\u6e05\u6301\u80a1\u6539\u8cb7\u6295\u5831\u916c\u5f88\u5dee\u4f46\u5b89\u5168\u7684\u50b5\u5238\u7b49\u8cc7\u7522\uff0c\u4ee5\u81f4\u65bc\u932f\u904e\u5e95\u90e8\u53cd\u5f48\u6642\u6700\u5927\u7684\u90a3\u6bb5\u6f32\u5e45\u3002\u53cd\u4e4b\uff0c\u7e3d\u662f\u5728\u5e02\u5834\u63a5\u8fd1\u982d\u90e8\u7684\u6700\u6a02\u89c0\u6642\uff0c\u4ee5\u6700\u9ad8\u50f9\u8cb7\u9032\u3002\u300d<\/p>\n\n\n\n<p>\u539f\u56e0\u5c31\u662f\u6295\u8cc7\u4eba\u96a8\u6ce2\u9010\u6d41\uff0c\u6bcf\u500b\u4eba\u90fd\u9700\u8981\u5236\u5b9a\u5c6c\u65bc\u9069\u5408\u81ea\u5df1\u7684\u4e00\u5957\u6295\u8cc7\u7b56\u7565\uff0c\u800c\u4e14\u8981\u6587\u5b57\u5316\u3002\u91cd\u8981\u7684\u662f\u8981\u9577\u671f\u5805\u5b9a\u4e0d\u79fb\u7684\u57f7\u884c\uff0c\u4e0d\u8981\u88ab\u4efb\u4f55\u56e0\u7d20\u5de6\u53f3\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E6%8A%95%E8%B3%87%E7%B5%84%E5%90%88%E7%9A%84%E7%B6%93%E7%87%9F\"><\/span>\u6295\u8cc7\u7d44\u5408\u7684\u7d93\u71df<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u9078\u5b9a\u9069\u5408\u81ea\u5df1\u7684\u6295\u8cc7\u7d44\u5408\u7684\u8cc7\u7522\u7d93\u71df\u7b56\u7565\uff0c\u7dca\u5b88\u539f\u5247\u5730\u57f7\u884c\uff0c\u7136\u5f8c\u5b9a\u671f\u6aa2\u8996\u3002\u5176\u6b21\u662f\u8981\u5b9a\u671f\u8a08\u7b97\u81ea\u5df1\u6295\u8cc7\u7d44\u5408\u7684\u7e3e\u6548\uff0c\u800c\u4e14\u5728\u5e02\u5834\u6108\u60b2\u89c0\u6642\uff0c\u6108\u9700\u8981\u8aa0\u5be6\u9762\u5c0d\u3002<\/p>\n\n\n\n<p>\u81f3\u65bc\u9700\u8981\u5b9a\u671f\u6aa2\u8996\u90a3\u4e9b\u6578\u5b57\uff0c\u8acb\u53c3\u898b\u6211\u4e4b\u524d\u7684\u8cbc\u6587\u4e2d\u7684\u8aaa\u660e\uff1a<a href=\"https:\/\/www.granitefirm.com\/blog\/behind-the-scenes\/investor-tips\/\u6295\u8cc7\u4eba\u9808\u8981\u7b46\u8a18\u90a3\u4e9b\u8cc7\u6599\uff1f\u70ba\u4ec0\u9ebc\uff1f\/\"><span style=\"font-size: revert;\">\u300a<\/span><\/a><a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2021\/05\/13\/%E8%A6%81%E8%A8%98%E4%B8%8B%E9%82%A3%E4%BA%9B%E6%8A%95%E8%B3%87%E8%A8%98%E9%8C%84%E5%92%8C%E8%B3%87%E6%96%99\/\" target=\"_blank\" rel=\"noreferrer noopener\">\u6295\u8cc7\u4eba\u81ea\u5df1\u9808\u8981\u8a18\u4e0b\u90a3\u4e9b\u6295\u8cc7\u8a18\u9304\u548c\u8cc7\u6599\uff1f\u70ba\u4ec0\u9ebc\uff1f<\/a>\u300b\u3002<\/p>\n\n\n\n<p>\u552f\u6709\u52aa\u529b\u57f7\u884c\u9019\u5169\u9ede\uff0c\u624d\u53ef\u4ee5\u5f88\u5bb9\u6613\u5730\u767c\u73fe\u81ea\u5df1\u72af\u7684\u932f\u8aa4\uff0c\u6aa2\u8a0e\u904e\u5931\uff0c\u4fee\u6b63\u932f\u8aa4\uff0c\u8b93\u81ea\u5df1\u9032\u6b65\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E9%95%B7%E7%9F%AD%E6%9C%9F%E8%B3%87%E9%87%91\"><\/span>\u9577\u77ed\u671f\u8cc7\u91d1<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u4e00\u8a00\u4ee5\u853d\u4e4b\uff0c\u6295\u8cc7\u5341\u5e74\u4ee5\u4e0a\u7684\u8cc7\u91d1\u61c9\u653e\u5728\u80a1\u7968\u4e0a\uff1b\u4f4e\u65bc\u5169\u6216\u4e09\u5e74\u7684\u8981\u653e\u5728\u73fe\u91d1\u6216\u8ca8\u5e63\u5e02\u5834\u57fa\u91d1\u4e0a\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E9%80%9A%E8%86%A8%E5%92%8C%E8%A4%87%E5%88%A9\"><\/span>\u901a\u81a8\u548c\u8907\u5229<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u9000\u4f11\u6bd4\u4f60\u60f3\u50cf\u7684\u6602\u8cb4\uff0c\u591a\u6578\u4eba\u90fd\u5ffd\u7565\u4e86\u5229\u7387\u548c\u901a\u81a8\uff0c\u52a0\u4e0a\u8907\u5229\uff0c\u9019\u4e9b\u56e0\u7d20\u76f8\u4e58\u5f8c\u7684\u9a5a\u4eba\u5a01\u529b\uff0c\u6703\u4f7f\u4f60\u7684\u8cc7\u7522\u7e2e\u6c34\u7684\u901f\u5ea6\uff0c\u6bd4\u4f60\u60f3\u50cf\u7684\u9084\u5feb\u4e0a\u8a31\u591a\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E7%B5%A6%E8%B3%87%E6%B7%B1%E6%88%96%E8%B2%A1%E5%AF%8C%E8%87%AA%E7%94%B1%E8%80%85\"><\/span>\u7d66\u8cc7\u6df1\u6216\u8ca1\u5bcc\u81ea\u7531\u8005<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u67e5\u723e\u65af\uff0e\u827e\u5229\u65af\u5f37\u8abf\uff1a\u300c\u771f\u6b63\u7684\u554f\u984c\u662f\u4f60\u6240\u6295\u8cc7\u7684\u907f\u96aa\u57fa\u91d1\u662f\u5426\u80fd\u5e74\u5fa9\u4e00\u5e74\uff0c\u4e00\u76f4\u5275\u9020\u9019\u9ebc\u597d\u7684\u7e3e\u6548\u3002\u300d<\/p>\n\n\n\n<p>\u5df4\u83f2\u7279\u7684\u540d\u8a00\uff1a\u300c\u6295\u8cc7\u7684\u7b2c\u4e00\u500b\u539f\u5247\u662f\u4e0d\u8981\u8667\u9322\uff0c\u7b2c\u4e8c\u500b\u539f\u5247\u662f\u4e0d\u8981\u5fd8\u4e86\u7b2c\u4e00\u500b\u539f\u5247\u3002\u300d<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"120\" height=\"181\" src=\"https:\/\/www.granitefirm.com\/blog\/wp-content\/uploads\/2024\/05\/wg-Custom.jpg\" alt=\"\u6295\u8cc7\u7d42\u6975\u6230\" class=\"wp-image-48887\"\/><figcaption class=\"wp-element-caption\">credit: Amazon.com<\/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\/2024\/06\/30\/%E7%BE%8E%E8%82%A1%E6%8A%95%E8%B3%87%E4%BA%BA%E5%BF%85%E8%AE%80%E7%9A%84%E6%BC%AB%E6%AD%A5%E8%8F%AF%E7%88%BE%E8%A1%97\/\" target=\"_blank\" rel=\"noreferrer noopener\">\u7f8e\u80a1\u6295\u8cc7\u4eba\u5fc5\u8b80\u7684\u300a\u6f2b\u6b65\u83ef\u723e\u8857\uff08A Random Walk Down Wall Street\uff09<\/a>\u300b\u300b<\/li>\n\n\n\n<li>\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2025\/05\/27\/%E5%83%B9%E5%80%BC%E6%8A%95%E8%B3%87bejamin-graham\/\">\u845b\u62c9\u6f22\u7684\u50b3\u8a18\u300a\u50f9\u503c\u6295\u8cc7\uff08Benjamin Graham on Value Investing\uff09\u300b<\/a>\u300b<\/li>\n\n\n\n<li>\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2025\/07\/28\/%e8%89%be%e5%88%a9%e6%96%af%e7%b0%a1%e4%bb%8b%e5%92%8c%e5%ae%83%e7%9a%84%e6%8a%95%e8%b3%87%e7%b5%82%e6%a5%b5%e6%88%b0\/\">\u67e5\u723e\u65af\uff0e\u827e\u5229\u65af\uff08Charles Ellis\uff09\u7c21\u4ecb\u548c\u4ed6\u5beb\u7684\u300a\u6295\u8cc7\u7d42\u6975\u6230\uff08Winning the Loser\u2019s Game\uff09\u300b<\/a>\u300b<\/li>\n\n\n\n<li><a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2025\/07\/26\/%E3%80%8A%E5%A6%82%E4%BD%95%E6%8A%95%E8%B3%87%EF%BC%88how-to-invest%EF%BC%89%E3%80%8B\/\">\u300a\u5982\u4f55\u6295\u8cc7\uff08How to Invest\uff09\u300b <\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2026\/05\/06\/%e8%82%a1%e5%b8%82%e9%87%91%e8%9e%8d%e6%80%aa%e5%82%91\/\">\u300a\u80a1\u5e02\u91d1\u878d\u602a\u5091\uff08Stock Market Wizards\uff09\u300b<\/a><\/li>\n\n\n\n<li>\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2021\/05\/10\/%E7%B5%A6%E6%8A%95%E8%B3%87%E5%B0%8F%E7%99%BD%E7%9A%84%E5%85%A5%E9%96%80%E6%9B%B8\/\">\u7d66\u6295\u8cc7\u5c0f\u767d\u7684\u6295\u8cc7\u5165\u9580\u66f8<\/a>\u300b<\/li>\n\n\n\n<li>\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2025\/12\/12\/%e5%82%91%e8%a5%bf%e6%9d%8e%e4%bd%9b%e6%91%a9%e7%9a%84%e5%8f%b2%e4%b8%8a%e6%9c%80%e5%bc%b7%e8%82%a1%e7%a5%a8%e4%bd%9c%e6%89%8b%e7%9a%84%e7%8d%b2%e5%88%a9%e7%b4%b0%e7%af%80\/\">\u5091\u897f\uff0e\u674e\u4f5b\u6469\u7684\u300a\u53f2\u4e0a\u6700\u5f37\u80a1\u7968\u4f5c\u624b\u7684\u7372\u5229\u7d30\u7bc0(Jesse Livermore\u2019s Methods Of Trading In Stocks)\u300b<\/a>\u300b<\/li>\n\n\n\n<li>\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2021\/06\/05\/%e5%bd%bc%e5%be%97%e6%9e%97%e5%8d%80%e9%81%b8%e8%82%a1%e6%88%b0%e7%95%a5\/\">\u9069\u5408\u5165\u9580\u6295\u8cc7\u4eba\u7684\u300a\u5f7c\u5f97\u6797\u5340\u9078\u80a1\u6230\u7565\uff08One Up On Wall Street\uff09<\/a>\u300b\u300b<\/li>\n\n\n\n<li><a href=\"https:\/\/www.granitefirm.com\/blog\/behind-the-scenes\/investor-tips\/\u6295\u8cc7\u4eba\u9808\u8981\u7b46\u8a18\u90a3\u4e9b\u8cc7\u6599\uff1f\u70ba\u4ec0\u9ebc\uff1f\/\"><span style=\"font-size: revert;\">\u300a<\/span><\/a><a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2021\/05\/13\/%E8%A6%81%E8%A8%98%E4%B8%8B%E9%82%A3%E4%BA%9B%E6%8A%95%E8%B3%87%E8%A8%98%E9%8C%84%E5%92%8C%E8%B3%87%E6%96%99\/\" target=\"_blank\" rel=\"noreferrer noopener\">\u6295\u8cc7\u4eba\u81ea\u5df1\u9808\u8981\u8a18\u4e0b\u90a3\u4e9b\u6295\u8cc7\u8a18\u9304\u548c\u8cc7\u6599\uff1f\u70ba\u4ec0\u9ebc\uff1f<\/a>\u300b<\/li>\n\n\n\n<li>\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2021\/07\/10\/%e5%a6%82%e4%bd%95%e6%aa%a2%e8%a6%96%e4%b8%80%e5%80%8b%e6%88%90%e5%8a%9f%e7%9a%84%e8%82%a1%e5%b8%82%e6%8a%95%e8%b3%87%e4%ba%ba%e6%88%90%e5%8a%9f%e8%83%bd%e5%90%a6%e6%8c%81%e7%ba%8c%ef%bc%9f\/\">\u6295\u8cc7\u4eba\u6210\u529f\u80fd\u5426\u6301\u7e8c\u5982\u4f55\u6aa2\u8996\uff1f3\u9805\u6aa2\u8996\u7684\u6a19\u6e96<\/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 noopener\">\u70ba\u4ec0\u9ebc\u5927\u90e8\u4efd\u7684\u6295\u8cc7\u4eba\u90fd\u61c9\u8a72\u6295\u8cc7\u5927\u76e4ETF<\/a>\u300b<\/li>\n\n\n\n<li>\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2023\/09\/26\/%e5%a4%a7%e7%9b%a4%e5%af%a6%e9%9a%9b%e6%8c%87%e6%95%b8%e5%92%8c%e5%a4%a7%e7%9b%a4%e6%8c%87%e6%95%b8etf%e8%a1%a8%e7%8f%be%e4%b8%a6%e4%b8%8d%e7%9b%b8%e5%90%8c\/\" target=\"_blank\" rel=\"noreferrer noopener\">\u5927\u76e4\u5be6\u969b\u6307\u6578\u548c\u5927\u76e4\u6307\u6578ETF\u8868\u73fe\u4e26\u4e0d\u76f8\u540c<\/a>\u300b<\/li>\n\n\n\n<li><span style=\"font-size: revert;\">\u300a<\/span><a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2022\/09\/11\/%e6%a8%99%e6%99%ae500%e6%8c%87%e6%95%b8%e5%b9%b4%e5%8c%96%e5%a0%b1%e9%85%ac%e7%8e%87%e6%9f%a5%e8%a9%a2%e5%99%a8\/\">\u6a19\u666e500\u6307\u6578\u5e74\u5316\u5831\u916c\u7387\u67e5\u8a62\u5668<\/a><span style=\"font-size: revert;\">\u300b<\/span><\/li>\n\n\n\n<li>\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2022\/02\/08\/%E6%8A%95%E8%B3%87%E4%BA%BA%E6%87%89%E8%A9%B2%E9%81%B8%E6%93%87%E5%9C%A8%E7%BE%8E%E5%9C%8B%E7%99%BC%E8%A1%8C%E7%9A%84%E7%BE%8E%E5%9C%8B%E5%A4%A7%E7%9B%A4etf\/\" target=\"_blank\" rel=\"noreferrer noopener\">\u6295\u8cc7\u4eba\u61c9\u8a72\u9078\u64c7\u5728\u7f8e\u570b\u767c\u884c\u7684\u7f8e\u570b\u5927\u76e4ETF<\/a>\u300b<\/li>\n\n\n\n<li>\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2021\/12\/13\/%E4%B8%BB%E8%A6%81%E7%9A%84%E7%BE%8E%E8%82%A1%E5%A4%A7%E7%9B%A4%E6%8C%87%E6%95%B8%E5%92%8C%E5%8D%81%E5%A4%A7etf\/\" target=\"_blank\" rel=\"noreferrer noopener\">\u7f8e\u80a1\u5927\u76e4\u5341\u5927ETF\u548c\u4e3b\u8981\u76846\u5927\u7f8e\u80a1\u5927\u76e4\u6307\u6578<\/a>\u300b<\/li>\n\n\n\n<li>\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2022\/07\/25\/%e5%94%af%e4%b8%80%e5%80%bc%e5%be%97%e6%b0%b8%e4%b9%85%e6%8c%81%e6%9c%89%e7%9a%84%e8%82%a1%e7%a5%a8\/\" target=\"_blank\" rel=\"noreferrer noopener\">\u6a19\u666e500\u6307\u6578\uff0c\u552f\u4e00\u503c\u5f97\u6c38\u4e45\u6301\u6709\u7684\u80a1\u7968<\/a>\u300b<\/li>\n\n\n\n<li>\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2022\/08\/11\/%e6%a8%99%e6%99%ae500%ef%bc%8c%e9%82%a3%e6%96%af%e9%81%94%e5%85%8b%ef%bc%8c%e9%81%93%e7%93%8a%ef%bc%8c%e8%b2%bb%e5%9f%8e%e5%8d%8a%e5%b0%8e%e9%ab%94%e6%8c%87%e6%95%b8%e6%88%90%e7%ab%8b%e4%bb%a5\/\" target=\"_blank\" rel=\"noreferrer noopener\">\u4e00\u5f35\u8868\u6bd4\u8f03\u6a19\u666e500\uff0c\u90a3\u65af\u9054\u514b\uff0c\u9053\u74ca\uff0c\u8cbb\u57ce\u534a\u5c0e\u9ad4\u6307\u6578\u6210\u7acb\u4ee5\u4f86\u6b77\u5e74\u5831\u916c\u6578\u5b57\u548c\u5e74\u5316\u5831\u916c\u7387<\/a>\u300b<\/li>\n\n\n\n<li><a href=\"https:\/\/www.granitefirm.com\/blog\/behind-the-scenes\/homework\/%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\/\">\u300a\u6295\u8cc7\u4eba\u61c9\u91cd\u8996\u7684\u662f\u5e74\u5316\u5831\u916c\u7387(IRR)\u300b<\/a><\/li>\n\n\n\n<li>\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2022\/03\/26\/%e6%8a%95%e8%b3%87etf%e7%9a%84%e7%bc%ba%e9%bb%9e\/\" target=\"_blank\" rel=\"noreferrer noopener\">\u6295\u8cc7ETF\u7684\u7f3a\u9ede\uff0c\u81f3\u5c11\u67096\u9805<\/a>\u300b<\/li>\n\n\n\n<li>\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2022\/12\/09\/%e4%b8%8d%e8%a6%81%e6%8a%95%e8%b3%87%e9%9d%9e%e5%a4%a7%e7%9b%a4etf%e7%9a%84%e7%90%86%e7%94%b1\/\">\u975e\u5927\u76e4ETF\u4e0d\u503c\u5f97\u6295\u8cc7\u76845\u5927\u7406\u7531<\/a>\u300b<\/li>\n\n\n\n<li>\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2023\/09\/26\/%e5%a4%a7%e7%9b%a4%e5%af%a6%e9%9a%9b%e6%8c%87%e6%95%b8%e5%92%8c%e5%a4%a7%e7%9b%a4%e6%8c%87%e6%95%b8etf%e8%a1%a8%e7%8f%be%e4%b8%a6%e4%b8%8d%e7%9b%b8%e5%90%8c\/\" target=\"_blank\" rel=\"noreferrer noopener\">\u5927\u76e4\u5be6\u969b\u6307\u6578\u548c\u5927\u76e4\u6307\u6578ETF\u8868\u73fe\u4e26\u4e0d\u76f8\u540c<\/a>\u300b<\/li>\n\n\n\n<li>\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2024\/02\/15\/%e5%84%84%e8%90%ac%e5%af%8c%e8%b1%aa%e7%9a%84%e7%8d%a8%e7%99%bd%ef%bc%88how-to-be-rich%ef%bc%89\/\">20\u4e16\u7d00\u4e2d\u671f\u4e16\u754c\u9996\u5bcc\u4fdd\u7f85\u84cb\u8482\u5beb\u7684\u300a\u5104\u842c\u5bcc\u8c6a\u7684\u7368\u767d\uff08How to be rich\uff09<\/a>\u300b<\/li>\n\n\n\n<li>\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2021\/07\/27\/%E5%B7%B4%E8%8F%B2%E7%89%B9%E7%9A%84%E6%8A%95%E8%B3%87%E5%8E%9F%E5%89%87\/\" target=\"_blank\" rel=\"noreferrer noopener\">\u5df4\u83f2\u7279\u5408\u4f19\u516c\u53f8\u5e74\u4ee3\u50b3\u7d00\u300a\u5df4\u83f2\u7279\u7684\u6295\u8cc7\u539f\u5247\uff08Warren Buffett&#8217;s Ground Rules\uff09<\/a>\u300b<\/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>\u300a\u6295\u8cc7\u7d42\u6975\u6230\uff08Winning the Loser\u2019s Game\uff09\u300b\u662f\u67e5\u723e\u65af\uff0e\u827e\u5229\u65af\uff08Charles D. Ellis\uff09\u6700\u8457\u540d\u7684\u4e00\u672c\u66f8\uff0c\u9019\u672c\u66f8\u4e5f\u662f\u6211\u6642\u5e38\u63a8\u85a6\u7d66\u6240\u6709\u4eba\u7684\u5fc5\u8b80\u6295\u8cc7\u7d93\u5178\u66f8\u7c4d<\/p>\n","protected":false},"author":1,"featured_media":48887,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[53,178,179,176,834],"tags":[],"class_list":["post-48863","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investing-books","category-etf","category-market-index","category-index","category-charles-ellis"],"_links":{"self":[{"href":"https:\/\/www.granitefirm.com\/blog\/wp-json\/wp\/v2\/posts\/48863","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=48863"}],"version-history":[{"count":5,"href":"https:\/\/www.granitefirm.com\/blog\/wp-json\/wp\/v2\/posts\/48863\/revisions"}],"predecessor-version":[{"id":79587,"href":"https:\/\/www.granitefirm.com\/blog\/wp-json\/wp\/v2\/posts\/48863\/revisions\/79587"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.granitefirm.com\/blog\/wp-json\/wp\/v2\/media\/48887"}],"wp:attachment":[{"href":"https:\/\/www.granitefirm.com\/blog\/wp-json\/wp\/v2\/media?parent=48863"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.granitefirm.com\/blog\/wp-json\/wp\/v2\/categories?post=48863"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.granitefirm.com\/blog\/wp-json\/wp\/v2\/tags?post=48863"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}