{"id":49032,"date":"2024-05-11T11:56:00","date_gmt":"2024-05-11T03:56:00","guid":{"rendered":"https:\/\/www.granitefirm.com\/blog\/?p=49032"},"modified":"2024-08-12T07:20:54","modified_gmt":"2024-08-11T23:20:54","slug":"%e6%9c%89%e5%8f%b2%e4%bb%a5%e4%be%86%e6%9c%80%e5%81%89%e5%a4%a7%e7%9a%84%e9%87%8f%e5%8c%96%e6%8a%95%e8%b3%87%e5%a4%a9%e7%8e%8b%e5%90%89%e5%a7%86%e8%a5%bf%e8%92%99%e6%96%af%e5%8e%bb%e4%b8%96","status":"publish","type":"post","link":"https:\/\/www.granitefirm.com\/blog\/blog\/2024\/05\/11\/%e6%9c%89%e5%8f%b2%e4%bb%a5%e4%be%86%e6%9c%80%e5%81%89%e5%a4%a7%e7%9a%84%e9%87%8f%e5%8c%96%e6%8a%95%e8%b3%87%e5%a4%a9%e7%8e%8b%e5%90%89%e5%a7%86%e8%a5%bf%e8%92%99%e6%96%af%e5%8e%bb%e4%b8%96\/","title":{"rendered":"\u6709\u53f2\u4ee5\u4f86\u6700\u5049\u5927\u7684\u91cf\u5316\u6295\u8cc7\u5929\u738b\u5409\u59c6\u897f\u8499\u65af\uff08Jim Simons\uff09"},"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\" 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href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2024\/05\/11\/%e6%9c%89%e5%8f%b2%e4%bb%a5%e4%be%86%e6%9c%80%e5%81%89%e5%a4%a7%e7%9a%84%e9%87%8f%e5%8c%96%e6%8a%95%e8%b3%87%e5%a4%a9%e7%8e%8b%e5%90%89%e5%a7%86%e8%a5%bf%e8%92%99%e6%96%af%e5%8e%bb%e4%b8%96\/#%E7%B0%A1%E4%BB%8B\" >\u7c21\u4ecb<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2024\/05\/11\/%e6%9c%89%e5%8f%b2%e4%bb%a5%e4%be%86%e6%9c%80%e5%81%89%e5%a4%a7%e7%9a%84%e9%87%8f%e5%8c%96%e6%8a%95%e8%b3%87%e5%a4%a9%e7%8e%8b%e5%90%89%e5%a7%86%e8%a5%bf%e8%92%99%e6%96%af%e5%8e%bb%e4%b8%96\/#%E6%95%B8%E5%AD%B8%E7%95%8C%E7%9A%84%E9%A0%82%E7%B4%9A%E6%88%90%E5%B0%B1\" >\u6578\u5b78\u754c\u7684\u9802\u7d1a\u6210\u5c31<\/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\/2024\/05\/11\/%e6%9c%89%e5%8f%b2%e4%bb%a5%e4%be%86%e6%9c%80%e5%81%89%e5%a4%a7%e7%9a%84%e9%87%8f%e5%8c%96%e6%8a%95%e8%b3%87%e5%a4%a9%e7%8e%8b%e5%90%89%e5%a7%86%e8%a5%bf%e8%92%99%e6%96%af%e5%8e%bb%e4%b8%96\/#%E9%80%B2%E5%85%A5%E6%8A%95%E8%B3%87%E6%A5%AD\" >\u9032\u5165\u6295\u8cc7\u696d<\/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\/2024\/05\/11\/%e6%9c%89%e5%8f%b2%e4%bb%a5%e4%be%86%e6%9c%80%e5%81%89%e5%a4%a7%e7%9a%84%e9%87%8f%e5%8c%96%e6%8a%95%e8%b3%87%e5%a4%a9%e7%8e%8b%e5%90%89%e5%a7%86%e8%a5%bf%e8%92%99%e6%96%af%e5%8e%bb%e4%b8%96\/#%E9%87%8F%E5%8C%96%E6%8A%95%E8%B3%87%E7%9A%84%E5%A4%A9%E7%8E%8B\" >\u91cf\u5316\u6295\u8cc7\u7684\u5929\u738b<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2024\/05\/11\/%e6%9c%89%e5%8f%b2%e4%bb%a5%e4%be%86%e6%9c%80%e5%81%89%e5%a4%a7%e7%9a%84%e9%87%8f%e5%8c%96%e6%8a%95%e8%b3%87%e5%a4%a9%e7%8e%8b%e5%90%89%e5%a7%86%e8%a5%bf%e8%92%99%e6%96%af%e5%8e%bb%e4%b8%96\/#%E5%8E%BB%E4%B8%96\" >\u53bb\u4e16<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2024\/05\/11\/%e6%9c%89%e5%8f%b2%e4%bb%a5%e4%be%86%e6%9c%80%e5%81%89%e5%a4%a7%e7%9a%84%e9%87%8f%e5%8c%96%e6%8a%95%e8%b3%87%e5%a4%a9%e7%8e%8b%e5%90%89%e5%a7%86%e8%a5%bf%e8%92%99%e6%96%af%e5%8e%bb%e4%b8%96\/#%E6%8A%95%E8%B3%87%E7%B6%93%E6%AD%B7\" >\u6295\u8cc7\u7d93\u6b77<\/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\/2024\/05\/11\/%e6%9c%89%e5%8f%b2%e4%bb%a5%e4%be%86%e6%9c%80%e5%81%89%e5%a4%a7%e7%9a%84%e9%87%8f%e5%8c%96%e6%8a%95%e8%b3%87%e5%a4%a9%e7%8e%8b%e5%90%89%e5%a7%86%e8%a5%bf%e8%92%99%e6%96%af%e5%8e%bb%e4%b8%96\/#%E6%96%87%E8%97%9D%E5%BE%A9%E8%88%88%E7%A7%91%E6%8A%80%E5%92%8C%E5%A4%A7%E5%A5%AC%E7%AB%A0%E5%9F%BA%E9%87%91\" >\u6587\u85dd\u5fa9\u8208\u79d1\u6280\u548c\u5927\u596c\u7ae0\u57fa\u91d1<\/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\/2024\/05\/11\/%e6%9c%89%e5%8f%b2%e4%bb%a5%e4%be%86%e6%9c%80%e5%81%89%e5%a4%a7%e7%9a%84%e9%87%8f%e5%8c%96%e6%8a%95%e8%b3%87%e5%a4%a9%e7%8e%8b%e5%90%89%e5%a7%86%e8%a5%bf%e8%92%99%e6%96%af%e5%8e%bb%e4%b8%96\/#%E7%94%A8%E6%95%B8%E5%AD%B8%E6%A8%A1%E5%9E%8B%E4%BA%A4%E6%98%93\" >\u7528\u6578\u5b78\u6a21\u578b\u4ea4\u6613<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2024\/05\/11\/%e6%9c%89%e5%8f%b2%e4%bb%a5%e4%be%86%e6%9c%80%e5%81%89%e5%a4%a7%e7%9a%84%e9%87%8f%e5%8c%96%e6%8a%95%e8%b3%87%e5%a4%a9%e7%8e%8b%e5%90%89%e5%a7%86%e8%a5%bf%e8%92%99%e6%96%af%e5%8e%bb%e4%b8%96\/#%E5%85%AC%E5%8F%B8%E6%88%90%E5%93%A1\" >\u516c\u53f8\u6210\u54e1<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2024\/05\/11\/%e6%9c%89%e5%8f%b2%e4%bb%a5%e4%be%86%e6%9c%80%e5%81%89%e5%a4%a7%e7%9a%84%e9%87%8f%e5%8c%96%e6%8a%95%e8%b3%87%e5%a4%a9%e7%8e%8b%e5%90%89%e5%a7%86%e8%a5%bf%e8%92%99%e6%96%af%e5%8e%bb%e4%b8%96\/#%E6%8A%95%E8%B3%87%E5%A0%B1%E9%85%AC%E7%8E%87\" >\u6295\u8cc7\u5831\u916c\u7387<\/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\/2024\/05\/11\/%e6%9c%89%e5%8f%b2%e4%bb%a5%e4%be%86%e6%9c%80%e5%81%89%e5%a4%a7%e7%9a%84%e9%87%8f%e5%8c%96%e6%8a%95%e8%b3%87%e5%a4%a9%e7%8e%8b%e5%90%89%e5%a7%86%e8%a5%bf%e8%92%99%e6%96%af%e5%8e%bb%e4%b8%96\/#%E7%AE%A1%E7%90%86%E7%9A%84%E5%9F%BA%E9%87%91\" >\u7ba1\u7406\u7684\u57fa\u91d1<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2024\/05\/11\/%e6%9c%89%e5%8f%b2%e4%bb%a5%e4%be%86%e6%9c%80%e5%81%89%e5%a4%a7%e7%9a%84%e9%87%8f%e5%8c%96%e6%8a%95%e8%b3%87%e5%a4%a9%e7%8e%8b%e5%90%89%e5%a7%86%e8%a5%bf%e8%92%99%e6%96%af%e5%8e%bb%e4%b8%96\/#%E7%84%A1%E4%BA%BA%E9%81%94%E6%88%90%E7%9A%84%E6%8A%95%E8%B3%87%E6%88%90%E5%B0%B1\" >\u7121\u4eba\u9054\u6210\u7684\u6295\u8cc7\u6210\u5c31<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2024\/05\/11\/%e6%9c%89%e5%8f%b2%e4%bb%a5%e4%be%86%e6%9c%80%e5%81%89%e5%a4%a7%e7%9a%84%e9%87%8f%e5%8c%96%e6%8a%95%e8%b3%87%e5%a4%a9%e7%8e%8b%e5%90%89%e5%a7%86%e8%a5%bf%e8%92%99%e6%96%af%e5%8e%bb%e4%b8%96\/#40%E7%9A%84%E5%B9%B4%E5%8C%96%E5%A0%B1%E9%85%AC%E7%8E%87\" >40%\u7684\u5e74\u5316\u5831\u916c\u7387<\/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\/2024\/05\/11\/%e6%9c%89%e5%8f%b2%e4%bb%a5%e4%be%86%e6%9c%80%e5%81%89%e5%a4%a7%e7%9a%84%e9%87%8f%e5%8c%96%e6%8a%95%e8%b3%87%e5%a4%a9%e7%8e%8b%e5%90%89%e5%a7%86%e8%a5%bf%e8%92%99%e6%96%af%e5%8e%bb%e4%b8%96\/#%E6%8C%81%E7%BA%8C%E8%B6%85%E9%81%8E36%E5%B9%B4\" >\u6301\u7e8c\u8d85\u904e36\u5e74<\/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\/2024\/05\/11\/%e6%9c%89%e5%8f%b2%e4%bb%a5%e4%be%86%e6%9c%80%e5%81%89%e5%a4%a7%e7%9a%84%e9%87%8f%e5%8c%96%e6%8a%95%e8%b3%87%e5%a4%a9%e7%8e%8b%e5%90%89%e5%a7%86%e8%a5%bf%e8%92%99%e6%96%af%e5%8e%bb%e4%b8%96\/#%E5%B9%BE%E4%B9%8E%E4%B8%8D%E5%8F%AF%E8%83%BD%E7%9A%84%E6%88%90%E7%B8%BE\" >\u5e7e\u4e4e\u4e0d\u53ef\u80fd\u7684\u6210\u7e3e<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2024\/05\/11\/%e6%9c%89%e5%8f%b2%e4%bb%a5%e4%be%86%e6%9c%80%e5%81%89%e5%a4%a7%e7%9a%84%e9%87%8f%e5%8c%96%e6%8a%95%e8%b3%87%e5%a4%a9%e7%8e%8b%e5%90%89%e5%a7%86%e8%a5%bf%e8%92%99%e6%96%af%e5%8e%bb%e4%b8%96\/#%E8%B6%85%E9%81%8E318%E5%84%84%E7%9A%84%E8%B3%87%E7%94%A2\" >\u8d85\u904e318\u5104\u7684\u8cc7\u7522<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2024\/05\/11\/%e6%9c%89%e5%8f%b2%e4%bb%a5%e4%be%86%e6%9c%80%e5%81%89%e5%a4%a7%e7%9a%84%e9%87%8f%e5%8c%96%e6%8a%95%e8%b3%87%e5%a4%a9%e7%8e%8b%e5%90%89%e5%a7%86%e8%a5%bf%e8%92%99%e6%96%af%e5%8e%bb%e4%b8%96\/#%E5%8D%81%E6%A2%9D%E4%BA%A4%E6%98%93%E5%AE%88%E5%89%87\" >\u5341\u689d\u4ea4\u6613\u5b88\u5247<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-19\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2024\/05\/11\/%e6%9c%89%e5%8f%b2%e4%bb%a5%e4%be%86%e6%9c%80%e5%81%89%e5%a4%a7%e7%9a%84%e9%87%8f%e5%8c%96%e6%8a%95%e8%b3%87%e5%a4%a9%e7%8e%8b%e5%90%89%e5%a7%86%e8%a5%bf%e8%92%99%e6%96%af%e5%8e%bb%e4%b8%96\/#%E5%90%89%E5%A7%86%EF%BC%8E%E8%A5%BF%E8%92%99%E6%96%AF%E6%9C%89%E9%97%9C%E7%9A%84%E5%82%B3%E8%A8%98\" >\u5409\u59c6\uff0e\u897f\u8499\u65af\u6709\u95dc\u7684\u50b3\u8a18<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-20\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2024\/05\/11\/%e6%9c%89%e5%8f%b2%e4%bb%a5%e4%be%86%e6%9c%80%e5%81%89%e5%a4%a7%e7%9a%84%e9%87%8f%e5%8c%96%e6%8a%95%e8%b3%87%e5%a4%a9%e7%8e%8b%e5%90%89%e5%a7%86%e8%a5%bf%e8%92%99%e6%96%af%e5%8e%bb%e4%b8%96\/#%E7%B5%90%E8%AA%9E\" >\u7d50\u8a9e<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-21\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2024\/05\/11\/%e6%9c%89%e5%8f%b2%e4%bb%a5%e4%be%86%e6%9c%80%e5%81%89%e5%a4%a7%e7%9a%84%e9%87%8f%e5%8c%96%e6%8a%95%e8%b3%87%e5%a4%a9%e7%8e%8b%e5%90%89%e5%a7%86%e8%a5%bf%e8%92%99%e6%96%af%e5%8e%bb%e4%b8%96\/#%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%94%9F%E5%B9%B3\"><\/span>\u751f\u5e73<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E7%B0%A1%E4%BB%8B\"><\/span>\u7c21\u4ecb<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p><a href=\"https:\/\/en.wikipedia.org\/wiki\/Jim_Simons\" target=\"_blank\" rel=\"noreferrer noopener\">\u5409\u59c6\uff0e\u897f\u8499\u65af\uff08Jim Simons\uff09<\/a>\u6709\u53f2\u4ee5\u4f86\u6700\u5049\u5927\u7684\u91cf\u5316\u6295\u8cc7\u5929\u738b\u3002\u897f\u84991958\u5e74\u7562\u696d\u65bc\u9ebb\u7701\u7406\u5de5\u5b78\u9662\uff0c1962\u5e74\u5728\u4f2f\u514b\u5229\u52a0\u5dde\u5927\u5b78\u7372\u5f97\u535a\u58eb\u5b78\u4f4d\u3002\u4ed6\u66fe\u4efb\u6559\u65bc\u9ebb\u7701\u7406\u5de5\u5b78\u9662\u3001\u54c8\u4f5b\u5927\u5b78\u548c\u7d10\u7d04\u5dde\u7acb\u5927\u5b78\u77f3\u6eaa\u5206\u6821\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E6%95%B8%E5%AD%B8%E7%95%8C%E7%9A%84%E9%A0%82%E7%B4%9A%E6%88%90%E5%B0%B1\"><\/span>\u6578\u5b78\u754c\u7684\u9802\u7d1a\u6210\u5c31<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u5409\u59c6\uff0e\u897f\u8499\u65af\u56e0\u5176\u5c0d\u6a21\u5f0f\u8b58\u5225\u7684\u7814\u7a76\u800c\u805e\u540d\u3002 \u4ed6\u8207\u9673\u7701\u8eab\u767c\u5c55\u4e86\u9673\u7701\u8eab-\u897f\u8499\u65af\u5f62\u5f0f\uff08Chern\u2013Simons form\uff09\uff0c\u4e26\u901a\u904e\u63d0\u4f9b\u5c07\u5e7e\u4f55\u3001\u62d3\u64b2\u8207\u91cf\u5b50\u5834\u8ad6\u76f8\u7d50\u5408\u7684\u7406\u8ad6\u6846\u67b6\uff0c\u70ba\u5f26\u7406\u8ad6\u7684\u767c\u5c55\u505a\u51fa\u4e86\u8ca2\u737b\u3002\u9673-\u897f\u8499\u65af\u5f62\u5f0f\u5c31\u662f\u4ee5\u9673\u7701\u8eab\u548c\u4ed6\u547d\u540d\u7684\u30021976\u5e74\uff0c\u4ed6\u7372\u5f97\u4e86\u7f8e\u570b\u6578\u5b78\u6703\u7684\u5967\u65af\u74e6\u723e\u5fb7\u00b7\u7dad\u5e03\u502b\u734e\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E9%80%B2%E5%85%A5%E6%8A%95%E8%B3%87%E6%A5%AD\"><\/span>\u9032\u5165\u6295\u8cc7\u696d<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>1978\u5e74\uff0c\u897f\u8499\u65af\u6b63\u5f0f\u96e2\u958b\u5b78\u8853\u754c\uff0c\u5275\u8fa6\u4e86\u6295\u8cc7\u516c\u53f8Monemetrics\uff0c\u5373\u65e5\u5f8c\u5927\u540d\u9f0e\u9f0e\u7684\u5c0d\u6c96\u57fa\u91d1\u6587\u85dd\u5fa9\u8208\u79d1\u6280\u516c\u53f8\u7684\u524d\u8eab\u3002<\/p>\n\n\n\n<p>1982\u5e74\uff0c\u4ed6\u6b63\u5f0f\u8f49\u884c\u6295\u8cc7\u696d\u3002\u9019\u4f4d\u6578\u5b78\u5bb6\u517c\u6295\u8cc7\u4eba\u5728\u5176\u795e\u79d8\u7684\u6587\u85dd\u5fa9\u8208\u79d1\u6280\uff08Renaissance Technologies\uff09\u516c\u53f8\u5275\u5efa\u4e86\u8a31\u591a\u91d1\u878d\u4eba\u58eb\u773c\u4e2d\u6700\u5049\u5927\u7684\u8cfa\u9322\u6a5f\u5668\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E9%87%8F%E5%8C%96%E6%8A%95%E8%B3%87%E7%9A%84%E5%A4%A9%E7%8E%8B\"><\/span>\u91cf\u5316\u6295\u8cc7\u7684\u5929\u738b<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u5409\u59c6\uff0e\u897f\u8499\u65af\u65bc\u4e0d\u60d1\u4e4b\u5e74\u5f9e\u5b78\u8853\u754c\u8f49\u5411\u6295\u8cc7\u754c\u3002\u4ed6\u4e26\u672a\u63a1\u7528\u57fa\u91d1\u7d93\u7406\u4eba\u7684\u6a19\u6e96\u505a\u6cd5\uff0c\u800c\u662f\u9752\u775e\u91cf\u5316\u5206\u6790\uff0c\u5373\u5728\u6578\u64da\u4e2d\u5c0b\u627e\u9810\u6e2c\u50f9\u683c\u8b8a\u5316\u7684\u8def\u5f91\u3002\u7531\u65bc\u9019\u9805\u65b9\u6cd5\u53d6\u5f97\u4e86\u5de8\u5927\u6210\u529f\uff0c\u4ed6\u81ea\u5df1\u88ab\u7a31\u70ba\u300c\u91cf\u5316\u4e4b\u738b\u300d\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E5%8E%BB%E4%B8%96\"><\/span>\u53bb\u4e16<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>2024 \u5e74 5 \u6708 10 \u65e5\u5409\u59c6\uff0e\u897f\u8499\u65af\u53bb\u4e16\uff0c\u4eab\u5e7486\u6b72\u3002\u4ed6\u540d\u4e0b\u7684\u6148\u5584\u57fa\u91d1\u6703\u767c\u5e03\u8072\u660e\u7a31\u4ed6\u5728\u7d10\u7d04\u5e02\u53bb\u4e16\u3002\u8a72\u8072\u660e\u4e26\u672a\u8aaa\u660e\u539f\u56e0\u3002<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E6%8A%95%E8%B3%87%E7%B6%93%E6%AD%B7\"><\/span>\u6295\u8cc7\u7d93\u6b77<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E6%96%87%E8%97%9D%E5%BE%A9%E8%88%88%E7%A7%91%E6%8A%80%E5%92%8C%E5%A4%A7%E5%A5%AC%E7%AB%A0%E5%9F%BA%E9%87%91\"><\/span>\u6587\u85dd\u5fa9\u8208\u79d1\u6280\u548c\u5927\u596c\u7ae0\u57fa\u91d1<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u5409\u59c6\uff0e\u897f\u8499\u65af\u662f\u7e3d\u90e8\u4f4d\u65bc\u7d10\u7d04\u5dde\u6771\u585e\u8a17\u57fa\u7279\u7684\u91cf\u5316\u907f\u96aa\u57fa\u91d1\u6587\u85dd\u5fa9\u8208\u79d1\u6280\uff08Renaissance Technologies\uff09\u7684\u5275\u59cb\u4eba\u3002\u4ed6\u548c\u4ed6\u7684\u57fa\u91d1\u662f\u91cf\u5316\u6295\u8cc7\u8005\uff0c\u5229\u7528\u6578\u5b78\u6a21\u578b\u548c\u7b97\u6cd5\u5f9e\u5e02\u5834\u4f4e\u6548\u7387\u4e2d\u7372\u53d6\u6295\u8cc7\u6536\u76ca\u3002\u7531\u65bc\u6587\u85dd\u5fa9\u8208\u79d1\u6280\u53ca\u5176\u5927\u596c\u7ae0\u57fa\u91d1\uff08Medallion Fund\uff09\u7684\u9577\u671f\u7e3d\u6295\u8cc7\u56de\u5831\uff0c\u5409\u59c6\uff0e\u897f\u8499\u65af\u88ab\u63cf\u8ff0\u70ba\u83ef\u723e\u8857\u6700\u5049\u5927\u7684\u6295\u8cc7\u8005\uff0c\u66f4\u5177\u9ad4\u5730\u8aaa\u662f\u6709\u53f2\u4ee5\u4f86\u6700\u6210\u529f\u7684\u5c0d\u6c96\u57fa\u91d1\u7d93\u7406\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E7%94%A8%E6%95%B8%E5%AD%B8%E6%A8%A1%E5%9E%8B%E4%BA%A4%E6%98%93\"><\/span>\u7528\u6578\u5b78\u6a21\u578b\u4ea4\u6613<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u5409\u59c6\uff0e\u897f\u8499\u65af\u65d7\u4e0b\u7684\u6587\u85dd\u5fa9\u8208\u79d1\u6280\u516c\u53f8\u7684\u5c0d\u6c96\u57fa\u91d1\u5728\u4e16\u754c\u5404\u5730\u7684\u5e02\u5834\u4e0a\u9032\u884c\u4ea4\u6613\uff0c\u4e00\u76f4\u63a1\u7528\u6578\u5b78\u6a21\u578b\u4f86\u5206\u6790\u548c\u57f7\u884c\u4ea4\u6613\uff0c\u5176\u4e2d\u8a31\u591a\u662f\u81ea\u52d5\u5316\u7684\u3002 \u6587\u85dd\u5fa9\u8208\u79d1\u6280\u4f7f\u7528\u57fa\u65bc\u96fb\u8166\u7684\u6a21\u578b\u4f86\u9810\u6e2c\u91d1\u878d\u5de5\u5177\u7684\u50f9\u683c\u8b8a\u5316\u3002\u9019\u4e9b\u6a21\u578b\u662f\u57fa\u65bc\u5206\u6790\u76e1\u53ef\u80fd\u591a\u7684\u6536\u96c6\u6578\u64da\uff0c\u7136\u5f8c\u5c0b\u627e\u975e\u96a8\u6a5f\u904b\u52d5\u4f86\u505a\u51fa\u9810\u6e2c\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E5%85%AC%E5%8F%B8%E6%88%90%E5%93%A1\"><\/span>\u516c\u53f8\u6210\u54e1<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u6587\u85dd\u5fa9\u8208\u79d1\u6280\u8058\u8acb\u4e86\u975e\u91d1\u878d\u80cc\u666f\u7684\u5c08\u5bb6\uff0c\u5305\u62ec\u6578\u5b78\u5bb6\u3001\u7269\u7406\u5b78\u5bb6\u3001\u8a0a\u865f\u8655\u7406\u5c08\u5bb6\u548c\u7d71\u8a08\u5b78\u5bb6\u3002\u5409\u59c6\uff0e\u897f\u8499\u65af\u907f\u514d\u8058\u7528\u83ef\u723e\u8857\u8001\u624b\u3002\u8207\u4e4b\u76f8\u53cd\uff0c\u4ed6\u50f1\u7528\u5929\u6587\u7269\u7406\u5b78\u5bb6\u3001\u4ee3\u78bc\u7834\u89e3\u8005\u7b49\u6578\u5b78\u5bb6\u548c\u79d1\u5b78\u5bb6\u7b49\uff0c\u5728\u516c\u53f8\u6bcf\u5929\u6536\u96c6\u7684\u5f9e\u592a\u967d\u9ed1\u5b50\u5230\u6d77\u5916\u5929\u6c23\u7b49\u5404\u7a2e\u6578\u64da\u4e2d\u6316\u6398\u6709\u7528\u7684\u6295\u8cc7\u8cc7\u8a0a\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E6%8A%95%E8%B3%87%E5%A0%B1%E9%85%AC%E7%8E%87\"><\/span>\u6295\u8cc7\u5831\u916c\u7387<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u5927\u596c\u7ae0\u57fa\u91d1\u662f\u4e0d\u5c0d\u5916\u90e8\u6295\u8cc7\u8005\u958b\u653e\u7684\u4e3b\u8981\u57fa\u91d1\uff0c\u81ea1988 \u5e74\u6210\u7acb\u4ee5\u4f86\u5df2\u8cfa\u53d6\u8d85\u904e1000 \u5104\u7f8e\u5143\u7684\u4ea4\u6613\u5229\u6f64\u3002\u9019\u6298\u54081988 \u5e74\u81f3 2018 \u5e74\u9593\u5e73\u5747\u5e74\u7e3d\u56de\u5831\u7387\u70ba 66.1%\uff0c\u5e73\u5747\u5e74\u6de8\u56de\u5831\u7387\u70ba 39.1%\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E7%AE%A1%E7%90%86%E7%9A%84%E5%9F%BA%E9%87%91\"><\/span>\u7ba1\u7406\u7684\u57fa\u91d1<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u6587\u85dd\u5fa9\u8208\u79d1\u6280\u4e5f\u7ba1\u7406\u53e6\u5916\u4e09\u96bb\u57fa\u91d1\u2014\u2014Renaissance Organsional Equities Fund (RIEF)\u3001Renaissance Organismal Diversified Alpha (RIDA) \u548cRenaissance Insider Diversified Global Equity Fund\u2014\u2014\u622a\u81f32019 \u5e744 \u6708\uff0c\u9019\u4e9b\u57fa\u91d1\u7684\u5408\u4f75\u8cc7\u7522\u7e3d\u984d\u7d04\u70ba550\u5104\u7f8e\u5143\uff0c\u4e26\u5411\u5916\u90e8\u6295\u8cc7\u8005\u958b\u653e\u3002<\/p>\n\n\n\n<p>\u6587\u85dd\u5fa9\u8208\u79d1\u6280\u958b\u653e\u5916\u4eba\u6295\u8cc7\u7684\u57fa\u91d1\uff0c\u6b77\u4f86\u90fd\u843d\u5f8c\u65bc\u8a72\u516c\u53f8\u66f4\u70ba\u77e5\u540d\u7684\u5927\u596c\u7ae0\u57fa\u91d1\u3002\u5927\u596c\u7ae0\u57fa\u91d1\u662f\u4e00\u500b\u55ae\u7368\u7684\u57fa\u91d1\uff0c\u50c5\u5305\u542b\u8a72\u516c\u53f8\u9ad8\u7ba1\u7684\u500b\u4eba\u8cc7\u91d1\u3002<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E7%84%A1%E4%BA%BA%E9%81%94%E6%88%90%E7%9A%84%E6%8A%95%E8%B3%87%E6%88%90%E5%B0%B1\"><\/span>\u7121\u4eba\u9054\u6210\u7684\u6295\u8cc7\u6210\u5c31<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>\u4e00\u5ea6\u64d4\u4efb\u7f8e\u570b\u653f\u5e9c\u4ee3\u78bc\u7834\u89e3\u54e1\u7684\u5409\u59c6\uff0e\u897f\u8499\u65af\u62d2\u7d55\u8a73\u7d30\u8aaa\u660e\u4ed6\u5982\u4f55\u8b93\u65d7\u4e0b\u6700\u8457\u540d\u7684\u5927\u596c\u7ae0\u57fa\u91d1\u56de\u5831\u7387\u70ba\u6a19\u666e500\u6307\u6578\u7684\u56db\u500d\u4ee5\u4e0a\u3002<\/p>\n\n\n\n<p>\u5409\u59c6\uff0e\u897f\u8499\u65af\u7684\u6295\u8cc7\u56de\u5831\u81f3\u4eca\u7121\u4eba\u80fd\u6575\uff0c\u7406\u7531\u5171\u6709\u4ee5\u4e0b\u5e7e\u9805\uff1a<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"40%E7%9A%84%E5%B9%B4%E5%8C%96%E5%A0%B1%E9%85%AC%E7%8E%87\"><\/span>40%\u7684\u5e74\u5316\u5831\u916c\u7387<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>36\u5e74\u9593\uff0c\u5373\u4fbf\u6263\u9664\u9ad8\u6602\u7684\u8cbb\u7528\uff0c\u5409\u59c6\uff0e\u897f\u8499\u65af\u53d6\u5f97\u4e86\u8fd140%\u7684\u9a5a\u4eba\u5e74\u5316\u5831\u916c\u7387\uff0e\u9019\u662f\u73fe\u4eca\u5df2\u77e5\u6295\u8cc7\u5927\u5e2b\u7684\u6700\u4f73\u8868\u73fe\u3002\u9019\u4e00\u90e8\u4efd\u8acb\u53c3\u898b\u6211\u5148\u524d\u7684\u8cbc\u6587\uff1a\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2023\/01\/14\/%e9%a0%82%e5%b0%96%e6%8a%95%e8%b3%87%e5%a4%a7%e5%b8%ab%e5%80%91%e7%9a%84%e7%94%9f%e6%b6%af%e5%b9%b4%e5%8c%96%e6%8a%95%e8%b3%87%e5%a0%b1%e9%85%ac%e7%8e%87\/\">\u9802\u5c16\u6295\u8cc7\u5927\u5e2b\u5011\u7684\u751f\u6daf\u5e74\u5316\u6295\u8cc7\u5831\u916c\u7387<\/a>\u300b\u3002<\/p>\n\n\n\n<p><strong>\u8a3b<\/strong>\uff1a\u897f\u8499\u65af\u751f\u6daf\u6295\u8cc7\u5831\u916c\u7387\u6307\u7684\u662f\u300c\u5e74\u5316\u5831\u916c\u7387\uff08IRR\uff09\u300d\u905440%\uff0c\u4e0d\u662f\u55ae\u5229\uff0c\u66f4\u4e0d\u662f\u751f\u6daf\u7e3d\u5831\u916c\u7387\u3002IRR\u662f\u8ca1\u7d93\u754c\u7684\u57fa\u672c\u5e38\u8b58\u548c\u7b97\u6cd5\uff0c\u9664\u975e\u662f\u6295\u8cc7\u5c0f\u767d\uff0c\u6216\u6613\u88ab\u552c\u54e2\u7684\u6295\u8cc7\u4eba\uff0c\u624d\u5bb9\u6613\u88ab\u7db2\u7d05\uff0c\u6295\u8cc7\u7406\u8ca1\u5c08\u54e1\uff0c\u6216\u662f\u57fa\u91d1\u92b7\u552e\u54e1\u8499\u9a19\uff08\u8aaa\u5be6\u5728\u7684\uff0c\u4ed6\u5011\u5f88\u591a\u81ea\u5df1\u4e5f\u4e0d\u61c2\u4ec0\u9ebc\u662fIRR\uff09\uff0c\u4ed6\u5011\u8ac7\u7684\u6295\u8cc7\u5831\u916c\u7387\u6578\u5b57\u6709\u5f88\u591a\u9677\u4e95\uff0c\u7e3d\u4e4b\u90fd\u4e0d\u53ef\u4fe1\uff0c\u6bd4\u5982\u4e0d\u6703\u8b93\u4f60\u77e5\u9053\u6295\u8cc7\u671f\u9650\u591a\u9577\uff0c\u662f\u55ae\u5229\u6216\u8907\u5229\uff0c\u800c\u4e14\u901a\u5e38\u90fd\u7565\u53bb\u5831\u916c\u4e0d\u597d\u7684\u671f\u9593\uff0c\u6216\u662f\u6390\u982d\u53bb\u5c3e\uff0c\u7e3d\u4e4b\uff0c\u591a\u4e0d\u53ef\u4fe1\uff0c\u6295\u8cc7\u4eba\u8981\u62b1\u6301\u57fa\u672c\u4e0a\u662f\u6ef2\u6c34\u7684\u6210\u4efd\u8f03\u591a\u7684\u614b\u5ea6\uff0c\u4ee5\u514d\u4e0a\u7576\u53d7\u9a19\u3002<\/p>\n\n\n\n<p>\u95dc\u65bc\u9019\u90e8\u4efd\uff0c\u8acb\u53c3\u898b\u6211\u4ee5\u4e0b\u7684\u5169\u7bc7\u8cbc\u6587\u7684\u8a73\u7d30\u8aaa\u660e\uff1a<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>\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\u61c9\u91cd\u8996\u7684\u662f\u5e74\u5316\u5831\u916c\u7387<\/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\/\" target=\"_blank\" rel=\"noreferrer noopener\">\u5982\u4f55\u6aa2\u8996\u4e00\u500b\u6210\u529f\u7684\u80a1\u5e02\u6295\u8cc7\u4eba\u6210\u529f\u80fd\u5426\u6301\u7e8c\uff1f<\/a>\u300b<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E6%8C%81%E7%BA%8C%E8%B6%85%E9%81%8E36%E5%B9%B4\"><\/span>\u6301\u7e8c\u8d85\u904e36\u5e74<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u8acb\u6ce8\u610f\uff0c\u5409\u59c6\uff0e\u897f\u8499\u65af\u7684\u6295\u8cc7\u7d44\u5408\u662f\u767e\u5104\u7f8e\u91d1\u7b49\u7d1a\uff1b\u800c\u4e14\u4ed6\u662f\u6301\u7e8c\u6295\u8cc7\u8d85\u904e36\u5e74\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E5%B9%BE%E4%B9%8E%E4%B8%8D%E5%8F%AF%E8%83%BD%E7%9A%84%E6%88%90%E7%B8%BE\"><\/span>\u5e7e\u4e4e\u4e0d\u53ef\u80fd\u7684\u6210\u7e3e<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u800c\u4e14\u5409\u59c6\uff0e\u897f\u8499\u65af\u7684\u6295\u8cc7\u6a6b\u8de836\u5e74\uff0c\u53ea\u6709\u4e00\u5e74\u7684\u5831\u916c\u6bd4\u6a19\u666e500\u6307\u6578\u5dee\uff0c\u9019\u7b49\u6210\u7e3e\u6c92\u6709\u4eba\u80fd\u8cea\u7591\u4ed6\u7684\u6210\u5c31\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E8%B6%85%E9%81%8E318%E5%84%84%E7%9A%84%E8%B3%87%E7%94%A2\"><\/span>\u8d85\u904e318\u5104\u7684\u8cc7\u7522<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u5df4\u83f2\u7279\u81f32023\u5e74\u5e95\u70ba\u6b62\u7684\u751f\u6daf\u5e74\u5316\u6295\u8cc7\u5831\u916c\u7387\u662f\u63a5\u8fd120%\uff0c\u4f46\u9019\u662f\u56e0\u70ba\u5df4\u83f2\u7279\u5728\u4e0d\u523020\u6b72\u5c31\u958b\u59cb\u6295\u8cc7\uff0c\u5409\u59c6\uff0e\u897f\u8499\u65af43\u6b72\u624d\u958b\u59cb\u6295\u8cc7\uff0c\u9019\u624d\u6703\u9020\u6210\u5df4\u83f2\u7279\u76ee\u524d\u7684\u8cc7\u75221337\u5104\u7f8e\u5143\u9060\u8d85\u904e\u5409\u59c6\uff0e\u897f\u8499\u65af\u65af318\u5104\u7f8e\u5143\u3002\u5409\u59c6\uff0e\u897f\u8499\u65af\u53bb\u4e16\u6642\u70ba\u4e16\u754c\u4e0a\u7b2c 51 \u4f4d\u5bcc\u6709\u7684\u4eba\u3002<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E5%8D%81%E6%A2%9D%E4%BA%A4%E6%98%93%E5%AE%88%E5%89%87\"><\/span>\u5341\u689d\u4ea4\u6613\u5b88\u5247<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>\u897f\u8499\u65af\u6709\u5341\u689d\u5982\u4e0b\u7684\u4ea4\u6613\u5b88\u5247\uff1a<\/p>\n\n\n\n<p>\u4e00\u3001\u5118\u7ba1\u6211\u5011\u7684\u7b56\u7565\u6703\u5c0d\u6295\u8cc7\u6a19\u7684\u9577\u671f\u6301\u6709\uff0c\u4f46\u6211\u5011\u6bcf\u5929\u5e73\u5747\u6703\u9032\u884c\u8d85\u904e10000\u6b21\u7684\u4ea4\u6613\u3002\u4e8b\u5be6\u4e0a\uff0c\u6211\u5011\u6295\u8cc7\u7d44\u5408\u4e2d\u7684\u6bcf\u652f\u80a1\u7968\u5e73\u5747\u6bcf\u9694\u4e00\u5929\u5c31\u5009\u4f4d\u5c31\u6703\u6709\u589e\u6e1b\u7684\u8b8a\u5316\uff0c\u6211\u5011\u4f7f\u7528\u7684\u5206\u6563\u6295\u8cc7\u7684\u65b9\u6cd5\u662f\uff0c\u76e1\u53ef\u80fd\u591a\u7684\u914d\u7f6e\u5404\u985e\u578b\u8cc7\u7522\uff0c\u5e73\u5747\u4f86\u8b1b\uff0c\u6211\u5011\u6703\u6301\u67092500\u52303000\u7a2e\u4e0d\u540c\u80a1\u7968\u3002<\/p>\n\n\n\n<p>\u4e8c\u3001\u6587\u85dd\u5fa9\u8208\u64c1\u6709\u975e\u5e38\u597d\u7684\u5de5\u4f5c\u74b0\u5883\u548c\u4e00\u6d41\u7684\u54e1\u5de5\uff0c\u5305\u62ec\u6578\u5b78\u3001\u7d71\u8a08\u3001\u7269\u7406\u3001\u5929\u6587\u5b78\u548c\u96fb\u8166\u79d1\u5b78\u7684\u535a\u58eb\u5011\u3002\u6211\u4e0d\u77e5\u9053\u600e\u9ebc\u50f1\u7528\u505a\u57fa\u672c\u9762\u4ea4\u6613\u7684\u4ea4\u6613\u54e1\uff0c\u56e0\u70ba\u4ed6\u5011\u6709\u6642\u5019\u8cfa\u9322\uff0c\u6709\u6642\u5019\u8667\u9322\uff0c\u4f46\u6211\u78ba\u5be6\u77e5\u9053\u5982\u4f55\u50f1\u7528\u79d1\u5b78\u5bb6\uff0c\u56e0\u70ba\u6211\u5c0d\u9019\u500b\u9818\u57df\u6709\u4e9b\u81ea\u5df1\u7684\u611f\u89ba\u3002<\/p>\n\n\n\n<p>\u4e09\u3001\u5982\u679c\u4f60\u505a\u57fa\u672c\u9762\u4ea4\u6613\uff0c\u90a3\u9ebc\u67d0\u4e00\u5929\u7576\u4f60\u9192\u4f86\u6642\uff0c\u4f60\u53ef\u80fd\u6703\u767c\u73fe\u81ea\u5df1\u662f\u500b\u5929\u624d\uff0c\u4f60\u7684\u982d\u5bf8\u7e3d\u662f\u671d\u5229\u65bc\u4f60\u7684\u65b9\u5411\u767c\u5c55\uff0c\u4f60\u89ba\u5f97\u81ea\u5df1\u5f88\u8070\u660e\uff0c\u4f60\u4e5f\u6703\u770b\u898b\u81ea\u5df1\u4e00\u591c\u4e4b\u9593\u8cfa\u5f88\u591a\u9322\u3002\u7136\u800c\u7b2c\u4e8c\u5929\uff0c\u6240\u6709\u7684\u90e8\u4f4d\u90fd\u671d\u8457\u4e0d\u5229\u65bc\u4f60\u7684\u65b9\u5411\u8d70\uff0c\u4f60\u89ba\u5f97\u81ea\u5df1\u50cf\u500b\u50bb\u74dc\u3002<\/p>\n\n\n\n<p>\u56db\u3001\u65e2\u7136\u6211\u5011\u6703\u505a\u6a21\u578b\uff0c\u90a3\u5c31\u4e0d\u59a8\u8ddf\u8457\u6a21\u578b\u8d70\u3002\u6240\u4ee5\uff0c\u57281988\u5e74\u7684\u6642\u5019\uff0c\u6211\u6c7a\u5b9a\u767e\u5206\u4e4b\u767e\u7684\u4f9d\u9760\u6a21\u578b\u4ea4\u6613\u3002\u800c\u4e14\u5f9e\u90a3\u6642\u8d77\uff0c\u6211\u5011\u4e00\u76f4\u90fd\u9019\u9ebc\u505a\u3002<\/p>\n\n\n\n<p>\u4e94\u3001\u4e00\u4e9b\u516c\u53f8\u4e5f\u904b\u7528\u6a21\u578b\uff0c\u7136\u800c\u5b83\u5011\u7684\u5b97\u65e8\u662f\uff0c\u4ed6\u5011\u6709\u4e00\u500b\u6a21\u578b\uff0c\u7528\u9019\u500b\u6a21\u578b\u5f97\u51fa\u7684\u7d50\u8ad6\u7d66\u4ea4\u6613\u54e1\u63d0\u4f9b\u53c3\u8003\u610f\u898b\uff0c\u5982\u679c\u4ed6\u5011\u8d0a\u6210\u9019\u500b\u7d50\u8ad6\u90a3\u5c31\u7167\u8457\u57f7\u884c\uff0c\u5982\u679c\u4ed6\u5011\u4e0d\u8d0a\u6210\u90a3\u5c31\u4e0d\u57f7\u884c\u3002<\/p>\n\n\n\n<p>\u516d\u3001\u9019\u4e0d\u662f\u79d1\u5b78\uff0c\u4f60\u4e0d\u53ef\u80fd\u6a21\u64ec\u51fa13\u5e74\u524d\u7576\u4f60\u770b\u898b\u5e02\u5834\u884c\u60c5\u6578\u64da\u6642\u7684\u90a3\u7a2e\u611f\u89ba\uff0c\u56de\u6e2c\u662f\u4e00\u4ef6\u5f88\u56f0\u96e3\u7684\u4e8b\u60c5\u3002<\/p>\n\n\n\n<p>\u5982\u679c\u4f60\u8981\u662f\u771f\u7684\u9760\u6a21\u578b\u53bb\u4ea4\u6613\uff0c\u90a3\u5c31\u5b8c\u5168\u9075\u7167\u6a21\u578b\u8aaa\u7684\u53bb\u505a\uff0c\u4e0d\u7ba1\u4f60\u8a8d\u70ba\u90a3\u500b\u6a21\u578b\u6709\u591a\u8070\u660e\u6216\u662f\u591a\u50bb\uff0c\u9019\u5f8c\u4f86\u88ab\u8b49\u5be6\u662f\u4e00\u500b\u5f88\u6b63\u78ba\u7684\u6c7a\u5b9a\u3002<\/p>\n\n\n\n<p>\u6240\u4ee5\u6211\u5011\u5efa\u7acb\u4e86\u4e00\u500b\u767e\u5206\u4e4b\u767e\u4f9d\u9760\u96fb\u8166\u6a21\u578b\u505a\u4ea4\u6613\u7684\u516c\u53f8\uff0c\u505a\u7684\u696d\u52d9\u5f9e\u5916\u532f\u3001\u91d1\u878d\u5de5\u5177\uff0c\u9010\u6f38\u767c\u5c55\u5230\u80a1\u7968\u4ee5\u53ca\u5176\u4ed6\u4e00\u5207\u53ef\u4ee5\u4ea4\u6613\u7684\uff0c\u6d41\u52d5\u6027\u5f37\u7684\u6771\u897f\u3002<\/p>\n\n\n\n<p>\u4e03\u3001\u6211\u5011\u96a8\u6642\u90fd\u5728\u8ce3\u51fa\u548c\u8cb7\u5165\uff0c\u6211\u5011\u4f9d\u9760\u6d3b\u8e8d\u8cfa\u9322<strong>\u3002<\/strong>\u6211\u662f\u6a21\u578b\u5148\u751f\uff0c\u4e0d\u60f3\u9032\u884c\u57fa\u672c\u9762\u5206\u6790\uff0c\u6a21\u578b\u7684\u512a\u9ede\u4e4b\u4e00\u662f\u53ef\u4ee5\u964d\u4f4e\u98a8\u96aa\uff0c\u800c\u4f9d\u9760\u500b\u4eba\u5224\u65b7\u9078\u80a1\uff0c\u4f60\u53ef\u80fd\u4e00\u591c\u81f4\u5bcc\uff0c\u4e5f\u53ef\u80fd\u5728\u7b2c\u4e8c\u5929\u53c8\u8f38\u5f97\u7cbe\u5149\u3002<\/p>\n\n\n\n<p>\u516b\u3001\u6709\u4e9b\u4ea4\u6613\u6a21\u5f0f\u4e26\u975e\u96a8\u6a5f\uff0c\u800c\u662f\u6709\u8de1\u53ef\u5faa\u3001\u5177\u6709\u9810\u6e2c\u6548\u679c\u7684\u3002\u90a3\u4e9b\u5f88\u5c0f\u7684\u4ea4\u6613\uff0c\u5373\u4f7f\u662f\u53ea\u6709100\u80a1\u7684\u4ea4\u6613\uff0c\u90fd\u6703\u5c0d\u9019\u500b\u9f90\u5927\u7684\u5e02\u5834\u7522\u751f\u5f71\u97ff\uff0c\u800c\u6bcf\u5929\u90fd\u6703\u6709\u6210\u5343\u4e0a\u842c\u9019\u6a23\u7684\u4ea4\u6613\u767c\u751f\u3002\u5176\u5be6\u6240\u6709\u4eba\u90fd\u6709\u4e00\u500b\u9ed1\u7bb1\uff0c\u6211\u5011\u628a\u4ed6\u7a31\u70ba\u5927\u8166\u3002<\/p>\n\n\n\n<p>\u4e5d\u3001\u4ea4\u6613\u5c31\u8981\u50cf\u58c1\u864e\u4e00\u6a23\uff0c\u5e73\u6642\u8db4\u5728\u7246\u4e0a\u4e00\u52d5\u4e0d\u52d5\uff0c\u868a\u5b50\u4e00\u65e6\u51fa\u73fe\u5c31\u8fc5\u901f\u5c07\u5176\u5403\u6389\uff0c\u7136\u5f8c\u6062\u5fa9\u5e73\u975c\uff0c\u7b49\u5f85\u4e0b\u4e00\u500b\u6a5f\u6703\u3002<\/p>\n\n\n\n<p>\u6211\u5011\u95dc\u6ce8\u7684\u662f\u90a3\u4e9b\u5f88\u5c0f\u7684\u6a5f\u6703\uff0c\u53ef\u80fd\u8f49\u77ac\u5373\u901d\u3002\u9019\u4e9b\u6a5f\u6703\u51fa\u73fe\u4e4b\u5f8c\u6211\u5011\u6703\u505a\u51fa\u9810\u6e2c\uff0c\u7136\u5f8c\u518d\u9032\u884c\u76f8\u5c0d\u61c9\u7684\u4ea4\u6613\u3002\u4ea4\u6613\u4e4b\u5f8c\uff0c\u6211\u5011\u53c8\u6703\u5c0d\u65b0\u7684\u5e02\u5834\u72c0\u6cc1\u9032\u884c\u8ffd\u8e64\u548c\u8a55\u5224\uff0c\u9810\u6e2c\u4e5f\u6703\u96a8\u4e4b\u8abf\u6574\uff0c\u6295\u8cc7\u7d44\u5408\u4e5f\u6703\u8ddf\u8457\u6539\u8b8a\u3002<\/p>\n\n\n\n<p>\u5341\u3001\u6211\u4e0d\u662f\u4e16\u4e0a\u6700\u6a5f\u654f\u7684\u4eba\uff0c\u5982\u679c\u53c3\u52a0\u6578\u5b78\u5967\u6797\u5339\u514b\u7af6\u8cfd\uff0c\u6211\u7684\u8868\u73fe\u4e5f\u4e0d\u6703\u7279\u5225\u597d\u3002\u4f46\u6211\u559c\u6b61\u7422\u78e8\uff0c\u5728\u5fc3\u88e1\u7422\u78e8\u4e8b\uff0c\u4e5f\u5c31\u662f\u53cd\u8986\u601d\u8003\u67d0\u4e9b\u4e8b\u3002\u4e8b\u5be6\u8b49\u660e\uff0c\u90a3\u662f\u7a2e\u5f88\u68d2\u7684\u65b9\u6cd5\u3002<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E5%90%89%E5%A7%86%EF%BC%8E%E8%A5%BF%E8%92%99%E6%96%AF%E6%9C%89%E9%97%9C%E7%9A%84%E5%82%B3%E8%A8%98\"><\/span>\u5409\u59c6\uff0e\u897f\u8499\u65af\u6709\u95dc\u7684\u50b3\u8a18<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u300a<\/strong><a href=\"https:\/\/www.amazon.com\/Man-Who-Solved-Market-Revolution\/dp\/073521798X\" target=\"_blank\" rel=\"noreferrer noopener\">\u6d1e\u6089\u5e02\u5834\u7684\u4eba\uff08The Man Who Solved the Market\uff09<\/a><strong>\u300b<\/strong>\uff1a\u8aaa\u9019\u672c\u66f8\u662f\u985e\u81ea\u50b3\uff0c\u56e0\u70ba\u4e26\u4e0d\u662f\u5409\u59c6\uff0e\u897f\u8499\u65af\u672c\u4eba\u5beb\u7684\uff0c\u800c\u662f\u8457\u540d\u7684\u8ca1\u7d93\u4f5c\u5bb6Gregory Zuckerman\u901a\u904e\u8a2a\u8ac7\u5409\u59c6\uff0e\u897f\u8499\u65af\u548c\u4ed6\u8eab\u908a\u7684\u4eba\uff0c\u662f\u60f3\u66b8\u89e3\u897f\u8499\u65af\u7684\u6700\u8a73\u7d30\u7684\u50b3\u8a18\u3002<\/li>\n\n\n\n<li>\u300a\u89e3\u8b80\u91cf\u5316\u6295\u8cc7\uff1a\u897f\u8499\u65af\u7528\u516c\u5f0f\u6253\u6557\u5e02\u5834\u7684\u6545\u4e8b\uff08Quant Invest\uff09\u300b\uff1a\u9019\u662f\u4e00\u672c\u5f88\u8584\u7684\u66f8\uff0c\u53ea\u6709\u4e2d\u6587\u7248\uff0c\u6c92\u6709\u82f1\u6587\u7248\uff0c\u5167\u5bb9\u975e\u5e38\u7c21\u55ae\u3002\u89e3\u8b80\u4e86\u5409\u59c6\uff0e\u897f\u8499\u65af\u91cf\u5316\u6295\u8cc7\u7684\u79d8\u5bc6\uff0c\u4ecb\u7d39\u9019\u4f4d20\u5e74\u4e2d\u5e73\u5747\u6bcf\u5e74\u7e3d\u56de\u5831\u70ba80\uff05\u7684\u5927\u734e\u7ae0\u57fa\u91d1\uff0c\u770b\u770b\u5409\u59c6\uff0e\u897f\u8499\u65af\u5982\u4f55\u5c071\u842c\u5143\u8b8a\u62101\u5104\u5143\u3002<\/li>\n<\/ul>\n\n\n\n<p>\u95dc\u65bc\u897f\u8499\u65af\u548c\u4ed6\u7684\u50b3\u8a18\uff0c\u8acb\u53c3\u898b\u6211\u7684\u53e6\u4e00\u7bc7\u8cbc\u6587\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2024\/08\/11\/%E6%83%B3%E6%9A%B8%E8%A7%A3%E9%87%8F%E5%8C%96%E6%8A%95%E8%B3%87%E5%BF%85%E8%AE%80%E8%A5%BF%E8%92%99%E6%96%AF%E7%9A%84%E6%B4%9E%E6%82%89%E5%B8%82%E5%A0%B4%E7%9A%84%E4%BA%BA\/\" target=\"_blank\" rel=\"noreferrer noopener\">\u60f3\u66b8\u89e3\u91cf\u5316\u6295\u8cc7\u5fc5\u8b80\uff0c\u897f\u8499\u65af\u7684\u300a\u6d1e\u6089\u5e02\u5834\u7684\u4eba\uff08The Man Who Solved the Market\uff09\u300b<\/a>\u300b<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E7%B5%90%E8%AA%9E\"><\/span>\u7d50\u8a9e<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>\u5728\u4e00\u6b21MIT\u6f14\u8b1b\u4e2d\uff0c\u897f\u8499\u65af\u5206\u4eab\u4e86\u81ea\u5df1\u7684\u4eba\u751f\u4e94\u5927\u667a\u6167\uff1a<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>\u505a\u4e00\u4e9b\u65b0\u7a4e\u7684\u4e8b\uff0c\u4e0d\u8981\u96a8\u6ce2\u9010\u6d41\uff1b<\/li>\n\n\n\n<li>\u8207\u4f60\u80fd\u627e\u5230\u7684\u6700\u8070\u660e\u7684\u4eba\u70ba\u4f0d\uff1b<\/li>\n\n\n\n<li>\u8b93\u7f8e\u5f15\u9818\u65b9\u5411\uff1b<\/li>\n\n\n\n<li>\u4e0d\u8981\u8f15\u6613\u653e\u68c4\uff1b<\/li>\n\n\n\n<li>\u5c0d\u597d\u904b\u5145\u6eff\u671f\u671b\u3002<\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"143\" height=\"120\" src=\"https:\/\/www.granitefirm.com\/blog\/wp-content\/uploads\/2024\/05\/js-Custom.jpg\" alt=\"\u897f\u8499\u65af\" class=\"wp-image-49040\"\/><figcaption class=\"wp-element-caption\">credit: Wiki<\/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\/2022\/09\/27\/%e6%a8%a1%e4%bb%bf%e5%81%89%e5%a4%a7%e6%8a%95%e8%b3%87%e4%ba%ba%e6%98%af%e9%80%b2%e6%ad%a5%e6%9c%80%e5%bf%ab%e5%92%8c%e6%9c%80%e6%9c%89%e6%95%88%e7%9a%84%e6%96%b9%e6%b3%95\/\">\u6a21\u4eff\u5049\u5927\u6295\u8cc7\u4eba\u662f\u9032\u6b65\u6700\u5feb\u548c\u6700\u6709\u6548\u7684\u65b9\u6cd5<\/a>\u300b<\/li>\n\n\n\n<li>\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2024\/08\/11\/%E6%83%B3%E6%9A%B8%E8%A7%A3%E9%87%8F%E5%8C%96%E6%8A%95%E8%B3%87%E5%BF%85%E8%AE%80%E8%A5%BF%E8%92%99%E6%96%AF%E7%9A%84%E6%B4%9E%E6%82%89%E5%B8%82%E5%A0%B4%E7%9A%84%E4%BA%BA\/\" target=\"_blank\" rel=\"noreferrer noopener\">\u60f3\u66b8\u89e3\u91cf\u5316\u6295\u8cc7\u5fc5\u8b80\uff0c\u897f\u8499\u65af\u7684\u300a\u6d1e\u6089\u5e02\u5834\u7684\u4eba\uff08The Man Who Solved the Market\uff09\u300b<\/a>\u300b<\/li>\n\n\n\n<li>\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2024\/07\/04\/%e9%87%8f%e5%8c%96%e6%8a%95%e8%b3%87%e7%9a%84%e5%85%b1%e9%80%9a%e6%80%a7\/\" target=\"_blank\" rel=\"noreferrer noopener\">\u91cf\u5316\u6295\u8cc7\u7684\u5171\u901a\u6027<\/a>\u300b<\/li>\n\n\n\n<li>\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2024\/05\/11\/%e6%9c%89%e5%8f%b2%e4%bb%a5%e4%be%86%e6%9c%80%e5%81%89%e5%a4%a7%e7%9a%84%e9%87%8f%e5%8c%96%e6%8a%95%e8%b3%87%e5%a4%a9%e7%8e%8b%e5%90%89%e5%a7%86%e8%a5%bf%e8%92%99%e6%96%af%e5%8e%bb%e4%b8%96\/\" target=\"_blank\" rel=\"noreferrer noopener\">\u6709\u53f2\u4ee5\u4f86\u6700\u5049\u5927\u7684\u91cf\u5316\u6295\u8cc7\u5929\u738b\u5409\u59c6\u897f\u8499\u65af\uff08Jim Simons\uff09<\/a>\u300b<\/li>\n\n\n\n<li>\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2021\/05\/24\/%e5%a6%82%e4%bd%95%e7%a0%94%e7%a9%b6%e6%88%90%e5%8a%9f%e7%9a%84%e6%8a%95%e8%b3%87%e5%a4%a7%e5%b8%ab\/\">\u5982\u4f55\u7814\u7a76\u6210\u529f\u7684\u6295\u8cc7\u5927\u5e2b<\/a>\uff1f\u300b<\/li>\n\n\n\n<li>\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2023\/01\/14\/%e9%a0%82%e5%b0%96%e6%8a%95%e8%b3%87%e5%a4%a7%e5%b8%ab%e5%80%91%e7%9a%84%e7%94%9f%e6%b6%af%e5%b9%b4%e5%8c%96%e6%8a%95%e8%b3%87%e5%a0%b1%e9%85%ac%e7%8e%87\/\">\u9802\u5c16\u6295\u8cc7\u5927\u5e2b\u5011\u7684\u751f\u6daf\u5e74\u5316\u6295\u8cc7\u5831\u916c\u7387<\/a>\u300b<\/li>\n\n\n\n<li>\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2021\/05\/01\/%e6%8a%95%e8%b3%87%e5%a4%a7%e5%b8%ab%e5%87%b1%e5%9b%a0%e6%96%af\/\">\u6295\u8cc7\u5927\u5e2b\u7d04\u7ff0\uff0e\u6885\u7d0d\u5fb7\uff0e\u51f1\u56e0\u65af\uff08John Maynard Keynes\uff09<\/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>\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\/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<\/li>\n\n\n\n<li>\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2021\/09\/12\/%e6%82%a8%e6%87%89%e8%a9%b2%e8%aa%8d%e8%ad%98square%e9%80%99%e5%ae%b6%e4%bc%81%e6%a5%ad\/\" target=\"_blank\" rel=\"noreferrer noopener\"><\/a><a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2022\/04\/07\/%e7%82%ba%e4%bb%80%e9%ba%bc%e5%b7%b4%e8%8f%b2%e7%89%b9%e5%80%bc%e5%be%97%e6%b7%b1%e5%85%a5%e7%a0%94%e7%a9%b6%ef%bc%9f\/\">\u70ba\u4ec0\u9ebc\u5df4\u83f2\u7279\u503c\u5f97\u6df1\u5165\u7814\u7a76\uff1f<\/a>\u300b<\/li>\n<\/ul>\n\n\n\n<p><em><strong>\u91cd\u8981\u8072\u660e<\/strong><\/em><\/p>\n\n\n\n<ul 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