{"id":79664,"date":"2026-07-12T23:56:00","date_gmt":"2026-07-12T15:56:00","guid":{"rendered":"https:\/\/www.granitefirm.com\/blog\/?p=79664"},"modified":"2026-07-13T12:57:50","modified_gmt":"2026-07-13T04:57:50","slug":"%e9%87%8f%e5%8c%96%e4%b9%8b%e7%8e%8b%e5%be%b7%e5%8a%ad%e5%89%b5%e8%be%a6%e4%ba%ba%e5%a4%a7%e8%a1%9b%e8%95%ad%ef%bc%88david-shaw","status":"publish","type":"post","link":"https:\/\/www.granitefirm.com\/blog\/blog\/2026\/07\/12\/%e9%87%8f%e5%8c%96%e4%b9%8b%e7%8e%8b%e5%be%b7%e5%8a%ad%e5%89%b5%e8%be%a6%e4%ba%ba%e5%a4%a7%e8%a1%9b%e8%95%ad%ef%bc%88david-shaw\/","title":{"rendered":"\u91cf\u5316\u4e4b\u738b\u5fb7\u52ad\u5275\u8fa6\u4eba\u5927\u885b\u856d\uff08David Shaw)"},"content":{"rendered":"\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_86 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\/2026\/07\/12\/%e9%87%8f%e5%8c%96%e4%b9%8b%e7%8e%8b%e5%be%b7%e5%8a%ad%e5%89%b5%e8%be%a6%e4%ba%ba%e5%a4%a7%e8%a1%9b%e8%95%ad%ef%bc%88david-shaw\/#%E5%BE%B7%E5%8A%AD%E9%9B%86%E5%9C%98%EF%BC%88DE_Shaw_%EF%BC%89\" >\u5fb7\u52ad\u96c6\u5718\uff08DE Shaw &amp;\uff09<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2026\/07\/12\/%e9%87%8f%e5%8c%96%e4%b9%8b%e7%8e%8b%e5%be%b7%e5%8a%ad%e5%89%b5%e8%be%a6%e4%ba%ba%e5%a4%a7%e8%a1%9b%e8%95%ad%ef%bc%88david-shaw\/#%E9%87%8F%E5%8C%96%E6%8A%95%E8%B3%87%E5%A7%8B%E7%A5%96%E4%B9%8B%E4%B8%80\" >\u91cf\u5316\u6295\u8cc7\u59cb\u7956\u4e4b\u4e00<\/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\/2026\/07\/12\/%e9%87%8f%e5%8c%96%e4%b9%8b%e7%8e%8b%e5%be%b7%e5%8a%ad%e5%89%b5%e8%be%a6%e4%ba%ba%e5%a4%a7%e8%a1%9b%e8%95%ad%ef%bc%88david-shaw\/#%E9%87%91%E8%9E%8D%E6%A5%AD%E5%8B%99%E6%9C%8D%E5%8B%99%E7%AF%84%E5%9C%8D\" >\u91d1\u878d\u696d\u52d9\u670d\u52d9\u7bc4\u570d<\/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\/2026\/07\/12\/%e9%87%8f%e5%8c%96%e4%b9%8b%e7%8e%8b%e5%be%b7%e5%8a%ad%e5%89%b5%e8%be%a6%e4%ba%ba%e5%a4%a7%e8%a1%9b%e8%95%ad%ef%bc%88david-shaw\/#%E7%A5%9E%E7%A7%98%E7%9A%84%E6%BC%94%E7%AE%97%E6%B3%95\" >\u795e\u79d8\u7684\u6f14\u7b97\u6cd5<\/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\/2026\/07\/12\/%e9%87%8f%e5%8c%96%e4%b9%8b%e7%8e%8b%e5%be%b7%e5%8a%ad%e5%89%b5%e8%be%a6%e4%ba%ba%e5%a4%a7%e8%a1%9b%e8%95%ad%ef%bc%88david-shaw\/#%E6%8D%B2%E5%85%A5%E9%9A%B1%E7%A7%81%E8%AA%B9%E8%AC%97%E6%A1%88\" >\u6372\u5165\u96b1\u79c1\u8ab9\u8b17\u6848<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2026\/07\/12\/%e9%87%8f%e5%8c%96%e4%b9%8b%e7%8e%8b%e5%be%b7%e5%8a%ad%e5%89%b5%e8%be%a6%e4%ba%ba%e5%a4%a7%e8%a1%9b%e8%95%ad%ef%bc%88david-shaw\/#%E5%A4%A7%E8%A1%9B%EF%BC%8E%E8%95%AD%EF%BC%88David_Shaw\" >\u5927\u885b\uff0e\u856d\uff08David Shaw)<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2026\/07\/12\/%e9%87%8f%e5%8c%96%e4%b9%8b%e7%8e%8b%e5%be%b7%e5%8a%ad%e5%89%b5%e8%be%a6%e4%ba%ba%e5%a4%a7%e8%a1%9b%e8%95%ad%ef%bc%88david-shaw\/#%E5%BF%AB%E9%80%9F%E7%B0%A1%E4%BB%8B\" >\u5feb\u901f\u7c21\u4ecb<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2026\/07\/12\/%e9%87%8f%e5%8c%96%e4%b9%8b%e7%8e%8b%e5%be%b7%e5%8a%ad%e5%89%b5%e8%be%a6%e4%ba%ba%e5%a4%a7%e8%a1%9b%e8%95%ad%ef%bc%88david-shaw\/#%E6%97%A9%E6%9C%9F%E7%94%9F%E6%B4%BB\" >\u65e9\u671f\u751f\u6d3b<\/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\/2026\/07\/12\/%e9%87%8f%e5%8c%96%e4%b9%8b%e7%8e%8b%e5%be%b7%e5%8a%ad%e5%89%b5%e8%be%a6%e4%ba%ba%e5%a4%a7%e8%a1%9b%e8%95%ad%ef%bc%88david-shaw\/#%E6%8A%95%E8%B3%87%E6%88%90%E7%B8%BE\" >\u6295\u8cc7\u6210\u7e3e<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2026\/07\/12\/%e9%87%8f%e5%8c%96%e4%b9%8b%e7%8e%8b%e5%be%b7%e5%8a%ad%e5%89%b5%e8%be%a6%e4%ba%ba%e5%a4%a7%e8%a1%9b%e8%95%ad%ef%bc%88david-shaw\/#%E5%A4%A7%E8%A1%9B%EF%BC%8E%E8%95%AD%E7%9A%84%E6%BC%94%E7%AE%97%E6%B3%95\" >\u5927\u885b\uff0e\u856d\u7684\u6f14\u7b97\u6cd5<\/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\/2026\/07\/12\/%e9%87%8f%e5%8c%96%e4%b9%8b%e7%8e%8b%e5%be%b7%e5%8a%ad%e5%89%b5%e8%be%a6%e4%ba%ba%e5%a4%a7%e8%a1%9b%e8%95%ad%ef%bc%88david-shaw\/#%E5%A4%96%E7%95%8C%E7%8C%9C%E6%B8%AC%E7%9A%84%E4%BA%A4%E6%98%93%E6%96%B9%E5%BC%8F\" >\u5916\u754c\u731c\u6e2c\u7684\u4ea4\u6613\u65b9\u5f0f<\/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\/2026\/07\/12\/%e9%87%8f%e5%8c%96%e4%b9%8b%e7%8e%8b%e5%be%b7%e5%8a%ad%e5%89%b5%e8%be%a6%e4%ba%ba%e5%a4%a7%e8%a1%9b%e8%95%ad%ef%bc%88david-shaw\/#%E8%95%AD%E7%9A%84%E6%96%B9%E6%B3%95%E4%B8%8D%E9%81%A9%E5%90%88%E6%95%A3%E6%88%B6\" >\u856d\u7684\u65b9\u6cd5\u4e0d\u9069\u5408\u6563\u6236<\/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\/2026\/07\/12\/%e9%87%8f%e5%8c%96%e4%b9%8b%e7%8e%8b%e5%be%b7%e5%8a%ad%e5%89%b5%e8%be%a6%e4%ba%ba%e5%a4%a7%e8%a1%9b%e8%95%ad%ef%bc%88david-shaw\/#%E4%B8%80%E8%88%AC%E4%BA%BA%E5%AE%B9%E6%98%93%E7%8A%AF%E4%B8%8B%E7%9A%84%E8%AC%AC%E8%AA%A4\" >\u4e00\u822c\u4eba\u5bb9\u6613\u72af\u4e0b\u7684\u8b2c\u8aa4<\/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\/2026\/07\/12\/%e9%87%8f%e5%8c%96%e4%b9%8b%e7%8e%8b%e5%be%b7%e5%8a%ad%e5%89%b5%e8%be%a6%e4%ba%ba%e5%a4%a7%e8%a1%9b%e8%95%ad%ef%bc%88david-shaw\/#%E5%85%B6%E5%AE%83%E9%87%8D%E8%A6%81%E6%88%90%E5%B0%B1\" >\u5176\u5b83\u91cd\u8981\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-15\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2026\/07\/12\/%e9%87%8f%e5%8c%96%e4%b9%8b%e7%8e%8b%e5%be%b7%e5%8a%ad%e5%89%b5%e8%be%a6%e4%ba%ba%e5%a4%a7%e8%a1%9b%e8%95%ad%ef%bc%88david-shaw\/#%E9%87%91%E8%9E%8D%E4%B9%8B%E5%A4%96%E7%9A%84%E4%BA%8B%E6%A5%AD\" >\u91d1\u878d\u4e4b\u5916\u7684\u4e8b\u696d<\/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\/2026\/07\/12\/%e9%87%8f%e5%8c%96%e4%b9%8b%e7%8e%8b%e5%be%b7%e5%8a%ad%e5%89%b5%e8%be%a6%e4%ba%ba%e5%a4%a7%e8%a1%9b%e8%95%ad%ef%bc%88david-shaw\/#%E8%B2%9D%E4%BD%90%E6%96%AF%E5%9C%A8%E5%BE%B7%E9%82%B5%E6%99%82%E6%83%B3%E5%87%BA%E9%9B%BB%E5%AD%90%E6%9B%B8%E5%BA%97\" >\u8c9d\u4f50\u65af\u5728\u5fb7\u90b5\u6642\u60f3\u51fa\u96fb\u5b50\u66f8\u5e97<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2026\/07\/12\/%e9%87%8f%e5%8c%96%e4%b9%8b%e7%8e%8b%e5%be%b7%e5%8a%ad%e5%89%b5%e8%be%a6%e4%ba%ba%e5%a4%a7%e8%a1%9b%e8%95%ad%ef%bc%88david-shaw\/#%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=\"%E5%BE%B7%E5%8A%AD%E9%9B%86%E5%9C%98%EF%BC%88DE_Shaw_%EF%BC%89\"><\/span>\u5fb7\u52ad\u96c6\u5718\uff08DE Shaw &amp;\uff09<span class=\"ez-toc-section-end\"><\/span><\/h2>\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%E5%A7%8B%E7%A5%96%E4%B9%8B%E4%B8%80\"><\/span>\u91cf\u5316\u6295\u8cc7\u59cb\u7956\u4e4b\u4e00<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p><a href=\"https:\/\/www.deshaw.com\/\" target=\"_blank\" rel=\"noopener\">\u5fb7\u52ad\u96c6\u5718\uff08DE Shaw &amp; Co., LP\uff09<\/a>\u4ee5\u958b\u767c\u8907\u96dc\u7684\u6578\u5b78\u6a21\u578b\u548c\u96fb\u8166\u7a0b\u5f0f\u4f86\u5229\u7528\u91d1\u878d\u5e02\u5834\u7684\u7570\u5e38\u73fe\u8c61\u800c\u805e\u540d\u3002\u622a\u81f3 2026 \u5e74\u521d\uff0c\u7ba1\u7406\u8cc7\u7522\u8d85\u904e 850 \u5104\u7f8e\u5143\uff0c\u5176\u4e2d\u5305\u62ec\u53e6\u985e\u6295\u8cc7\u548c\u9577\u671f\u7b56\u7565\u3002<\/p>\n\n\n\n<p>\u91cf\u5316\u4e4b\u738b\u5fb7\u52ad\u5275\u8fa6\u4eba\u5927\u885b\u856d\uff08David Shaw)\u76ee\u524d\u5df2\u4e0d\u4ecb\u5165<a href=\"https:\/\/www.deshaw.com\/\" target=\"_blank\" rel=\"noopener\">\u5fb7\u52ad\u96c6\u5718\uff08DE Shaw &amp; Co., LP\uff09<\/a>\u7684\u65e5\u5e38\u71df\u904b\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E9%87%91%E8%9E%8D%E6%A5%AD%E5%8B%99%E6%9C%8D%E5%8B%99%E7%AF%84%E5%9C%8D\"><\/span>\u91d1\u878d\u696d\u52d9\u670d\u52d9\u7bc4\u570d<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u516c\u53f8\u7ba1\u7406\u591a\u7a2e\u6295\u8cc7\u57fa\u91d1\uff0c\u9019\u4e9b\u57fa\u91d1\u5ee3\u6cdb\u904b\u7528\u5b9a\u91cf\u65b9\u6cd5\u548c\u5c08\u6709\u8a08\u7b97\u6280\u8853\u652f\u63f4\u57fa\u790e\u7814\u7a76\u3002\u4e5f\u904b\u7528\u8cea\u6027\u5206\u6790\u6cd5\uff0c\u5c0d\u79d1\u6280\u3001\u98a8\u80fd\u3001\u623f\u5730\u7522\u3001\u91d1\u878d\u670d\u52d9\u516c\u53f8\u4ee5\u53ca\u9677\u5165\u56f0\u5883\u7684\u516c\u53f8\u9032\u884c\u79c1\u52df\u80a1\u6b0a\u6295\u8cc7\u3002 \u5fb7\u52ad\u96c6\u5718\u4e5f\u66fe\u70ba\u79d1\u6280\u76f8\u95dc\u4f01\u696d\u63d0\u4f9b\u79c1\u52df\u80a1\u6b0a\u8cc7\u672c\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E7%A5%9E%E7%A7%98%E7%9A%84%E6%BC%94%E7%AE%97%E6%B3%95\"><\/span>\u795e\u79d8\u7684\u6f14\u7b97\u6cd5<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u516c\u53f8\u5c0d\u5176\u5c08\u6709\u7684\u4ea4\u6613\u6f14\u7b97\u6cd5\u9032\u884c\u4e86\u56b4\u5bc6\u7684\u4fdd\u8b77\uff0c\u5916\u4eba\u5f88\u96e3\u5f97\u77e5\u516c\u53f8\u8a73\u7d30\u7684\u904b\u4f5c\u65b9\u5f0f\u3002\u5176\u65e9\u671f\u54e1\u5de5\u5927\u591a\u662f\u79d1\u5b78\u5bb6\u3001\u6578\u5b78\u5bb6\u548c\u96fb\u8166\u7a0b\u5f0f\u8a2d\u8a08\u5e2b\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E6%8D%B2%E5%85%A5%E9%9A%B1%E7%A7%81%E8%AA%B9%E8%AC%97%E6%A1%88\"><\/span>\u6372\u5165\u96b1\u79c1\u8ab9\u8b17\u6848<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u4e5f\u7531\u65bc\u516c\u53f8\u5c0d\u5176\u5c08\u6709\u7684\u4ea4\u6613\u6f14\u7b97\u6cd5\u9032\u884c\u4e86\u56b4\u5bc6\u7684\u4fdd\u8b77\u3002\u81ea 2020 \u5e74\u4ee5\u4f86\uff0c\u8a72\u516c\u53f8\u9023\u7e8c\u591a\u5e74\u9762\u81e8\u6cd5\u5f8b\u554f\u984c\uff0c\u5305\u62ec\u56e0\u8ab9\u8b17\u524d\u54e1\u5de5\u800c\u88ab\u8ffd\u7a76\u8cac\u4efb\uff0c\u4ee5\u53ca\u88ab\u7f8e\u570b\u8b49\u5238\u4ea4\u6613\u59d4\u54e1\u6703\u6307\u63a7\u9055\u53cd\u8209\u5831\u4eba\u4fdd\u8b77\u6cd5\u3002<br><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E5%A4%A7%E8%A1%9B%EF%BC%8E%E8%95%AD%EF%BC%88David_Shaw\"><\/span>\u5927\u885b\uff0e\u856d\uff08David Shaw)<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E5%BF%AB%E9%80%9F%E7%B0%A1%E4%BB%8B\"><\/span>\u5feb\u901f\u7c21\u4ecb<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>1988\u5e74\uff0c\u5927\u885b\uff0e\u856d\uff08David Shaw)\u5275\u7acb\u4e86\u5c0d\u6c96\u57fa\u91d1\u516c\u53f8\u5fb7\u52ad\u96c6\u5718\uff08D.E. Shaw &amp; Co.\uff09\uff0c\u8a72\u516c\u53f8\u66fe\u88ab\u300a\u8ca1\u5bcc\u300b\u96dc\u8a8c\u8b7d\u70ba\u300c\u83ef\u723e\u8857\u6700\u5f15\u4eba\u5165\u52dd\u3001\u6700\u795e\u79d8\u7684\u529b\u91cf\u300d\u3002\u5927\u885b\uff0e\u856d\uff08David Shaw)\u66fe\u662f\u54e5\u502b\u6bd4\u4e9e\u5927\u5b78\u96fb\u8166\u79d1\u5b78\u7cfb\u7684\u52a9\u7406\u6559\u6388\uff0c\u900f\u904e\u6316\u6398\u91d1\u878d\u5e02\u5834\u7684\u4f4e\u6548\u6027\u800c\u7d2f\u7a4d\u4e86\u5de8\u984d\u8ca1\u5bcc\u3002 1996\u5e74\uff0c\u300a\u8ca1\u661f\u300b\u96dc\u8a8c\u7a31\u4ed6\u70ba\u300c\u91cf\u5316\u4e4b\u738b\u300d\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E6%97%A9%E6%9C%9F%E7%94%9F%E6%B4%BB\"><\/span>\u65e9\u671f\u751f\u6d3b<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u5927\u885b\uff0e\u856d\uff08David Shaw)\u7684\u7e7c\u7236\u6b50\u6587\u2027\u666e\u8cbb\u5f17\u662f\u52a0\u5dde\u5927\u5b78\u6d1b\u6749\u78ef\u5206\u6821\u7684\u91d1\u878d\u5b78\u6559\u6388\uff0c\u662f\u652f\u6301\u6709\u6548\u5e02\u5834\u5047\u8aaa\u7684\u8ad6\u6587\u4f5c\u8005\uff0c\u5927\u885b\uff0e\u856d\uff08David Shaw)\u7684\u65e9\u671f\u91d1\u878d\u77e5\u8b58\u53d7\u5176\u5f71\u97ff\u5f88\u6df1\u3002\u5927\u885b\uff0e\u856d\uff08David Shaw)\u4ee5\u6700\u512a\u7b49\u6210\u7e3e\u7562\u696d\u65bc\u52a0\u5dde\u5927\u5b78\u8056\u5730\u7259\u54e5\u5206\u6821\uff0c\u7372\u5f97\u6578\u5b78\u8207\u61c9\u7528\u7269\u7406\u8207\u8cc7\u8a0a\u79d1\u5b78\u96d9\u5b78\u58eb\u5b78\u4f4d\u30021980\u5e74\u7372\u5f97\u53f2\u4e39\u4f5b\u5927\u5b78\u7406\u5b78\u78a9\u58eb\u548c\u535a\u58eb\u5b78\u4f4d\uff0c\u96a8\u5f8c\u6210\u70ba\u54e5\u502b\u6bd4\u4e9e\u5927\u5b78\u8a08\u7b97\u6a5f\u79d1\u5b78\u7cfb\u7684\u52a9\u7406\u6559\u6388\u3002\u5728\u54e5\u502b\u6bd4\u4e9e\u5927\u5b78\u671f\u9593\uff0c\u4ed6\u5229\u7528NON-VON\u8d85\u7d1a\u96fb\u8166\u9032\u884c\u5927\u898f\u6a21\u5e73\u884c\u8a08\u7b97\u7814\u7a76\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E6%8A%95%E8%B3%87%E6%88%90%E7%B8%BE\"><\/span>\u6295\u8cc7\u6210\u7e3e<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u5927\u885b\uff0e\u856d\uff08David Shaw)\u7684\u65d7\u8266\u4ea4\u6613\u65b9\u6848\u81ea\u5f9e1989\u5e74\u5275\u7acb\u4ee5\u4f86\uff0c\u59cb\u7d42\u7a69\u5b9a\u7372\u5229\u3002\u5728\u9019\u6bb5\u9577\u905411\u5e74\u7684\u671f\u9593\uff0c\u9019\u500b\u65b9\u6848\u5275\u9020\u7684\u5e73\u5747\u8907\u5229\u5e74\u5831\u916c\u70ba22%(\u6263\u9664\u6240\u6709\u8cbb\u7528\u7684\u6de8\u5831\u916c)\uff0c\u800c\u4e14\u98a8\u96aa\u53d7\u5230\u56b4\u683c\u63a7\u5236\u3002\u6574\u6bb5\u64cd\u4f5c\u671f\u9593\uff0c\u4ea4\u6613\u65b9\u6848\u7684\u5e33\u6236\u6de8\u503c\u5f9e\u5cf0\u4f4d\u5230\u6708\u5e95\u4f4e\u9ede\u7684\u6700\u5927\u8017\u640d\u70ba11%\uff0c\u4e0d\u50c5\u5e45\u5ea6\u76f8\u5c0d\u6709\u9650\uff0c\u800c\u4e14\u4e5f\u57284\u500b\u6708\u5185\u5c31\u5b8c\u5168\u6273\u56de\u3002<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E5%A4%A7%E8%A1%9B%EF%BC%8E%E8%95%AD%E7%9A%84%E6%BC%94%E7%AE%97%E6%B3%95\"><\/span>\u5927\u885b\uff0e\u856d\u7684\u6f14\u7b97\u6cd5<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E5%A4%96%E7%95%8C%E7%8C%9C%E6%B8%AC%E7%9A%84%E4%BA%A4%E6%98%93%E6%96%B9%E5%BC%8F\"><\/span>\u5916\u754c\u731c\u6e2c\u7684\u4ea4\u6613\u65b9\u5f0f<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u6839\u64da\u5927\u885b\uff0e\u856d\uff08David Shaw)\u6975\u5c11\u6578\u7684\u53d7\u8a2a\u5167\u5bb9\uff0c\u300a\u80a1\u5e02\u91d1\u878d\u602a\u5091\u300b\uff08<em>Stock Market Wizards<\/em>\uff09\u4e00\u66f8\u7684\u4f5c\u8005\u5091\u514b\uff0e\u53f2\u74e6\u683c\uff08Jack D. Schwager\uff09\u731c\u6e2c\u6574\u7406\u67d0\u4e9b\u8907\u96dc\u5143\u7d20\u8b93\u856d\u7684\u4ea4\u6613\u65b9\u6cd5\u8ddf\u7c21\u55ae\u7d71\u8a08\u5957\u5229\u7b56\u7565\u5982\u914d\u5c0d\u4ea4\u6613\u6709\u6240\u5dee\u7570\u3002\u4ee5\u4e0b\u5217\u51fa\u90e8\u5206\u53ef\u80fd\u662f\u5927\u885b\uff0e\u856d\uff08David Shaw)\u7684\u4ea4\u6613\u65b9\u5f0f\u7684\u91cd\u8981\u5143\u7d20:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>\u4ea4\u6613\u8a0a\u865f\u4f86\u81ea\u65bc\u4e8c\u5341\u5e7e\u7a2e\u4e0d\u540c\u7684\u9810\u6e2c\u6280\u5de7\uff0c\u4e26\u975e\u4ef0\u8cf4\u55ae\u4e00\u65b9\u6cd5\u3002<\/li>\n\n\n\n<li>\u9019\u4e9b\u65b9\u6cd5\u7684\u7cbe\u5bc6\u7a0b\u5ea6\uff0c\u53ef\u80fd\u9060\u9060\u8d85\u8d8a\u914d\u5c0d\u4ea4\u6613\u3002\u5118\u7ba1\u9019\u4e9b\u7b56\u7565\u7684\u6838\u5fc3\u5c31\u8ddf\u914d\u5c0d\u4ea4\u6613\u4e00\u6a23\uff0c\u90fd\u662f\u8457\u773c\u65bc\u76f8\u95dc\u8b49\u5238\u4e4b\u9593\u7684\u50f9\u683c\u80cc\u96e2\u73fe\u8c61;\u4f46\u662f\uff0c\u5176\u4e2d\u7684\u6578\u5b78\u7d50\u69cb\u53ef\u80fd \u540c\u6642\u5206\u6790\u8a31\u591a\u8b49\u5238\u4e4b\u9593\u7684\u76f8\u4e92\u95dc\u4fc2\uff0c\u800c\u4e0d\u662f\u55ae\u7d14\u5206\u6790\u5169\u7a2e\u8b49\u5238\u3002<\/li>\n\n\n\n<li>\u76f8\u95dc\u7b56\u7565\u7d0d\u5165\u5168\u7403\u80a1\u7968\u5e02\u5834\uff0c\u4e0d\u50c5\u9650\u65bc\u7f8e\u570b\u80a1\u7968\u3002<\/li>\n\n\n\n<li>\u7b56\u7565\u9664\u4e86\u8003\u616e\u80a1\u7968\uff0c\u9084\u7d0d\u5165\u5176\u4ed6\u7684\u80a1\u7968\u76f8\u95dc\u5de5\u5177\uff0c\u5305\u62ec\u8a8d\u80a1\u6b0a\u8b49\u3001\u9078\u64c7\u6b0a\u3001\u53ef\u8f49\u63db\u50b5\u5238\u7b49\u7b49\u3002<\/li>\n\n\n\n<li>\u70ba\u4e86\u9054\u6210\u6295\u8cc7\u7d44\u5408\u7684\u5e73\u8861\uff0c\u76f8\u5c0d\u6e1b\u4f4e\u5927\u76e4\u50f9\u683c\u8da8\u52e2\u6240\u9020\u6210\u7684\u5f71\u97ff\uff0c\u90e8\u4f4d\u898f\u6a21\u53ef\u80fd\u5fc5\u9808\u6839\u64da\u6bcf\u7a2e\u8b49\u5238\u4e0d\u540c\u7684\u50f9\u683c\u6ce2\u52d5\u7387\uff0c\u4ee5\u53ca\u6295\u8cc7\u7d44\u5408\u4e2d\u6210\u5206\u80a1\u4e4b\u9593\u7684\u76f8\u95dc\u6027\u800c\u9032\u884c\u8abf\u6574\u3002<\/li>\n\n\n\n<li>\u8abf\u6574\u6295\u8cc7\u7d44\u5408\u7684\u5e73\u8861\uff0c\u76ee\u7684\u9664\u4e86\u6392\u9664\u5927\u76e4\u50f9\u683c\u8d70\u52e2\u7684\u5f71\u97ff\uff0c\u540c\u6642\u9084\u70ba\u4e86\u964d\u4f4e\u5916\u532f\u50f9\u683c\u6ce2\u52d5\u8207\u5229\u7387\u8d70\u52e2\u7684\u5f71\u97ff\u3002<\/li>\n\n\n\n<li>\u9032\u5834\u8207\u51fa\u5834\u7b56\u7565\u5c07\u4ea4\u6613\u6210\u672c\u6e1b\u5230\u6700\u4f4e\u3002<\/li>\n\n\n\n<li>\u6240\u6709\u7684\u7b56\u7565\u8207\u6a21\u578b\u90fd\u5373\u6642\u76e3\u63a7\u3002\u6bcf\u4e00\u500b\u5143\u7d20\u7684\u4efb\u4f55\u8b8a\u52d5\uff0c\u90fd\u53ef\u80fd\u5c0d\u5176\u4ed6\u56e0\u7d20\u9020\u6210\u5f71\u97ff\u3002\u8209\u4f8b\u4f86\u8aaa\uff0c\u7576\u5176\u4e2d\u4e00\u7a2e\u9810\u6e2c\u6280\u8853\u767c\u51fa\u8a0a\u865f\uff0c\u6307\u793a\u7b56\u7565\u8cb7\u9032\u67d0\u4e00\u7d44\u8b49\u5238\uff0c\u540c 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id=\"%E8%95%AD%E7%9A%84%E6%96%B9%E6%B3%95%E4%B8%8D%E9%81%A9%E5%90%88%E6%95%A3%E6%88%B6\"><\/span>\u856d\u7684\u65b9\u6cd5\u4e0d\u9069\u5408\u6563\u6236<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u5927\u885b\uff0e\u856d\uff08David Shaw)\u63a1\u7528\u7684\u4ea4\u6613\u65b9\u6cd5\uff0c\u9700\u8981\u5f15\u7528\u9ad8\u5ea6\u8907\u96dc\u7684\u6578\u5b78\u6a21\u578b\u3001\u9f90\u5927\u7684\u96fb\u8166\u529f\u80fd\uff0c\u9084\u9700\u8981\u4e00\u7fa4 \u5c08\u696d\u4ea4\u6613\u54e1\u6301\u7e8c\u76e3\u8996\u4e16\u754c\u5404\u5730\u7684\u5e02\u5834\uff0c\u8b93\u8a31\u591a\u4ea4\u6613\u5728\u77ac\u9593\u4e4b\u5167\u540c\u6642\u5b8c\u6210\uff0c\u800c\u4e14\u5fc5\u9808\u56b4\u683c \u63a7\u5236\u4ea4\u6613\u6210\u672c;\u6240\u6709\u9019\u4e00\u5207\uff0c\u986f\u7136\u90fd\u8d85\u51fa\u4e00\u822c\u6295\u8cc7\u4eba\u7684\u80fd\u529b\u7bc4\u570d\u3002\u53ef\u662f\uff0c\u9019\u7bc7\u8a2a\u554f\u8ac7\u5230\u4e00\u500b\u9069\u7528\u65bc\u500b\u4eba\u6295\u8cc7\u8005\u7684\u6982\u5ff5:\u67d0\u4e9b\u578b\u614b(\u4e5f\u5c31\u662f\u5927\u885b\uff0e\u856d\uff08David Shaw)\u6240\u8b02\u7684\u300c\u5e02\u5834\u7121\u6548\u7387\u73fe\u8c61\u300d)\u672c\u8eab\u6216\u8a31 \u7121\u6cd5\u6709\u6548\u4ea4\u6613\uff0c\u4f46\u5982\u679c\u7d50\u5408\u5176\u4ed6\u5f62\u614b\uff0c\u5247\u53ef\u80fd\u6210\u70ba\u5177\u6709\u7372\u5229\u80fd\u529b\u7684\u7b56\u7565\u3002\u96d6\u7136\u5927\u885b\uff0e\u856d\uff08David Shaw)\u4e0d\u8a8d\u540c\u50f9\u683c\u578b\u614b\u8207\u50b3\u7d71\u6280\u8853\u6307\u6a19\u7684\u529f\u80fd\uff0c\u4f46\u9019\u500b\u76f8\u5c0d\u61c9\u7684\u6982\u5ff5\u4ecd\u7136\u6210\u7acb:\u7406\u8ad6\u4e0a\uff0c\u50f9\u683c\u578b\u614b\u6216 \u6280\u8853\u6307\u6a19\u7684\u7d50\u5408\uff0c\u53ef\u80fd\u7522\u751f\u6709\u7528\u7684\u4ea4\u6613\u6a21\u578b\uff0c\u5118\u7ba1\u9019\u4e9b\u500b\u5225\u6210\u5206\u55ae\u7368\u4f7f\u7528\u6642\u4e26\u4e0d\u5177\u6548\u76ca\u3002<\/p>\n\n\n\n<p>\u9019\u7a2e\u7d9c\u6548(synergistic effect)\u6982\u5ff5\u4e5f\u9069\u7528\u65bc\u57fa\u672c\u9762\u56e0\u7d20\u3002\u8209\u4f8b\u4f86\u8aaa\uff0c\u7814\u7a76\u8005\u53ef\u80fd\u6e2c\u8a66\u5341\u7a2e\u4e0d\u540c\u7684\u57fa\u672c\u9762\u56e0\u7d20\uff0c\u767c\u73fe\u4efb\u4f55\u4e00\u500b\u90fd\u4e0d\u503c\u5f97\u4f5c\u70ba\u6709\u6548\u7684\u50f9\u683c\u6307\u6a19\u3002\u9019\u662f\u5426\u610f\u5473\u8457\u9019\u4e9b\u57fa\u672c\u9762\u56e0\u7d20\u771f\u7684\u5168\u7136\u7121\u7528\u5462?\u7576\u7136\u4e0d\u662f\u3002\u96d6\u7136\u6bcf\u500b\u55ae\u4e00\u56e0\u7d20\u90fd\u4e0d\u8db3\u4ee5\u6210\u70ba\u6709\u7528\u7684\u9810\u6e2c\u56e0\u5b50\uff0c\u4f46\u67d0\u4e9b\u56e0\u7d20\u5f7c\u6b64\u7d50\u5408\u4e4b\u5f8c\uff0c\u5f88\u53ef\u80fd\u5c31\u8b8a\u6210\u6709\u6548\u7684\u50f9\u683c\u6307\u6a19\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E4%B8%80%E8%88%AC%E4%BA%BA%E5%AE%B9%E6%98%93%E7%8A%AF%E4%B8%8B%E7%9A%84%E8%AC%AC%E8%AA%A4\"><\/span>\u4e00\u822c\u4eba\u5bb9\u6613\u72af\u4e0b\u7684\u8b2c\u8aa4<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u5982\u679c\u4ea4\u6613\u8005\u60f3\u8981\u958b\u767c\u7cfb\u7d71\u6027\u65b9\u6cd5\uff0c\u6216\u67d0\u7a2e\u7531\u96fb\u8166\u641c\u5c0b\u578b\u614b\u4f5c\u70ba\u8a0a\u865f\u7684\u4ea4\u6613\u65b9\u6cd5\uff0c\u5c31\u5fc5\u9808\u7559\u610f\u8cc7\u6599\u63a2\u52d8(data mining)\u7684\u554f\u984c\u6240\u8b02\u8cc7\u6599\u63a2\u52d8\uff0c\u5c31\u662f\u900f\u904e\u96fb\u8166\u53cd\u8986\u641c\u5c0b\u8cc7\u6599\uff0c\u6e2c\u8a66\u6578\u4ee5\u767e\u842c\u8a08\u7684\u8f38\u5165\u8b8a\u6578\u7d44\u5408\uff0c\u8a66\u5716\u5f9e\u4e2d\u627e\u5230\u67d0\u4e9b\u5177\u5099\u7372\u5229\u529f\u80fd\u7684\u578b\u614b\u3002\u7531\u6b64\u7522\u751f\u7684\u4ea4\u6613\u6a21\u578b(\u6216\u4ea4\u6613\u7cfb\u7d71)\u770b\u8d77\u4f86\u5f88\u7406\u60f3\uff0c\u5be6\u969b\u4e0a\u537b\u53ef\u80fd\u6c92\u6709\u9810\u6e2c\u80fd\u529b\uff0c\u4e00\u65e6\u904b\u7528\u65bc\u73fe\u5be6\u4ea4\u6613\uff0c\u5f80\u5f80\u9020\u6210\u56b4\u91cd\u8667\u640d\u3002<\/p>\n\n\n\n<p>\u70ba\u4ec0\u9ebc?\u56e0\u70ba\u5373\u4f7f\u662f\u96a8\u6a5f\u8cc7\u6599\uff0c\u4f60\u4e5f\u53ef\u80fd\u627e\u5230\u5f62\u614b\u3002\u8209\u4f8b\u4f86\u8aaa\uff0c\u5047\u8a2d\u4f60\u6295\u64f2100\u842c\u500b\u516c\u6b63\u9285\u677f\uff0c\u6bcf\u4e00\u500b\u90fd\u9023\u7e8c\u6295\u64f210\u6b21\uff0c\u5247\u5e73\u5747\u5927\u7d04\u6709977\u500b\u9285\u677f\u6703\u9023\u7e8c10\u6b21\u90fd\u51fa\u73fe\u6b63\u9762\u3002\u5982\u679c\u4f60\u56e0\u6b64\u8a8d\u70ba\u9019\u4e9b\u9285\u677f\u672a\u4f86\u51fa\u73fe\u6b63\u9762\u7684\u6a5f\u7387\u6bd4\u8f03\u9ad8\uff0c\u90a3\u5c31\u672a\u514d\u592a\u611a\u8822\u4e86\u3002\u53ef\u662f\uff0c\u5f88\u591a\u7cfb\u7d71\u958b\u767c\u8005\u91dd\u5c0d\u50f9\u683c\u8cc7\u6599\u6e2c\u8a66\u67d0\u4e9b\u8b8a\u6578\u7d44\u5408\u6642\uff0c\u5c31\u6703\u72af\u4e0b\u9019\u985e\u55ae\u7d14\u7684\u63a8\u7406\u8b2c\u8aa4\uff0c\u4ee5\u70ba\u6839\u64da\u9019\u4e9b\u8b8a\u6578\u7d44\u5408\u9032\u884c\u4ea4\u6613\u5c07\u6703\u4eab\u6709\u52dd\u7b97\u3002\u5c0d\u65bc\u4efb\u4f55\u4ea4\u6613\u7cfb\u7d71\uff0c\u53ea\u8981\u91dd\u5c0d\u8db3\u5920\u591a\u7684 \u8b8a\u6578\u7d44\u5408\u9032\u884c\u6e2c\u8a66\uff0c\u7e3d\u6703\u9047\u5230\u67d0\u4e9b\u7d14\u5c6c\u5de7\u5408\u800c\u770b\u4f3c\u53ef\u7372\u5229\u7684\u578b\u614b\u3002\u5c31\u50cf\u4f60\u53ea\u8981\u6295\u64f2\u8db3\u5920\u6578\u91cf\u7684\u9285\u677f\uff0c\u7e3d\u6703\u6709\u67d0\u4e9b\u9285\u677f\u6bcf\u6b21\u6295\u64f2\u90fd\u51fa\u73fe\u6b63\u9762\u3002<\/p>\n\n\n\n<p>\u5927\u885b\uff0e\u856d\uff08David Shaw)\u8a8d\u70ba\uff0c\u8981\u907f\u514d\u9019\u985e\u554f\u984c\uff0c\u5c31\u5fc5\u9808\u300c\u5148\u8a2d\u5b9a\u5047\u8a2d\u300d\uff0c\u7136\u5f8c\u91dd\u5c0d\u8a72\u5047\u8a2d\u9032\u884c\u6aa2\u5b9a\uff0c\u904b\u7528\u56b4\u683c\u7684\u7d71\u8a08\u65b9\u6cd5\u8a55\u4f30\u7d50\u679c\u7684\u6709\u6548\u6027\u3002<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E5%85%B6%E5%AE%83%E9%87%8D%E8%A6%81%E6%88%90%E5%B0%B1\"><\/span>\u5176\u5b83\u91cd\u8981\u6210\u5c31<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E9%87%91%E8%9E%8D%E4%B9%8B%E5%A4%96%E7%9A%84%E4%BA%8B%E6%A5%AD\"><\/span>\u91d1\u878d\u4e4b\u5916\u7684\u4e8b\u696d<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u9664\u4e86\u6838\u5fc3\u7684\u4ea4\u6613\u4e8b\u696d\u4e4b\u5916\uff0c\u5927\u885b\uff0e\u856d\uff08David Shaw)\u7684\u6a5f\u69cb\u4e5f\u6276\u690d \u8207\u958b\u62d3\u8a31\u591a\u5176\u4ed6\u4e8b\u696d\uff0c\u5176\u4e2d\u6700\u8457\u540d\u7684\u53ef\u80fd\u662f\u6731\u8afe\u7dda\u4e0a\u670d\u52d9(Juno Online Services)\uff0c\u9019\u662f\u50c5\u6b21\u65bc\u7f8e\u570b\u7dda\u4e0a(AOL)\u7684\u5168\u7403\u7b2c\u4e8c\u5927\u64a5\u63a5\u5f0f\u7db2\u969b\u7db2\u8def\u670d\u52d9\u516c\u53f8\u3002\u6731\u8afe\u662f1995\u5e74\u4e94\u6708\u6210\u7acb\u7684\u4e0a\u5e02\u516c\u53f8\uff0c\u3002D.E. Shaw \u96c6\u5718\u4e5f\u6210\u7acb\u4e86\u4e00\u5bb6\u91d1\u878d\u79d1\u6280\u516c\u53f8 Desoft\uff0c\u5f8c\u4f86\u900f\u904e\u4f75\u8cfc\u4ea4\u6613\u8ce3\u7d66\u7f8e\u6797\u516c\u53f8\uff0c\u9019\u4e5f\u662f\u7f8e\u6797\u8b49\u5238\u62d3\u5c55\u7dda\u4e0a\u4ea4\u6613\u670d\u52d9\u7684\u95dc\u9375\u6b65\u9a5f\u3002D.E. Shaw \u96c6\u5718\u6210\u7acb\u7684\u5176\u4ed6\u4e8b\u696d\uff0c\u9084\u5305\u62ec\u7dda\u4e0a\u7d93\u7d00\u516c\u53f8 FarSight\u3001\u9020\u5e02\u5546 D.E. Shaw \u91d1\u878d\u7522\u54c1\u516c\u53f8\u7b49\u7b49\uff0c\u5f8c\u4f86\u90fd\u9678\u7e8c\u51fa\u552e\u3002<\/p>\n\n\n\n<p>\u9664\u4e86\u6276\u690d\u8a31\u591a\u6210\u529f\u7684\u65b0\u4e8b\u696d\u4e4b\u5916\uff0cD.E. Shaw \u96c6\u5718\u4e5f\u70ba\u859b\u4e01\u683c\u516c\u53f8(Schr\u00f6dinger Inc.\uff0c\u5927\u885b\uff0e\u856d\uff08David Shaw)\u662f\u8a72\u516c\u53f8\u7684\u8463\u4e8b\u9577)\u8207\u5206\u5b50\u6a21\u64ec\u516c\u53f8(Molecular Simulations Inc.)\u63d0\u4f9b\u5275\u6295\u8cc7 \u91d1\uff0c\u9019\u5169\u5bb6\u516c\u53f8\u90fd\u662f\u767c\u5c55\u8a08\u7b97\u5316\u5b78(computational chemistry)\u8edf\u9ad4\u7684\u9818\u5c0e\u696d\u8005\u3002\u9019\u4e9b\u6295\u8cc7\u986f\u793a\u4e86\u856d\u7684\u5805\u5b9a\u4fe1\u5ff5:\u65b0\u85e5\u54c1\u8207\u65b0\u7269\u6599\u7684\u8a2d\u8a08\u91cd\u5fc3\u5df2\u7d93\u9010\u6f38\u5f9e\u5be6\u9a57\u5ba4\u79fb\u5411\u96fb\u8166\u5e73\u53f0\u3002 \u5927\u885b\uff0e\u856d\uff08David Shaw)\u9810\u6e2c\u96fb\u8166\u7684\u8edf\u3001\u786c\u9ad4\u958b\u767c\u5c07\u6703\u986f\u8457\u52a0\u901f\u65b0\u85e5\u54c1\u7684\u958b\u767c\uff0c\u800c\u4ed6\u5e0c\u671b\u81ea\u5df1\u80fd\u5920\u53c3\u8207\u9019\u9805\u5283\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E8%B2%9D%E4%BD%90%E6%96%AF%E5%9C%A8%E5%BE%B7%E9%82%B5%E6%99%82%E6%83%B3%E5%87%BA%E9%9B%BB%E5%AD%90%E6%9B%B8%E5%BA%97\"><\/span>\u8c9d\u4f50\u65af\u5728\u5fb7\u90b5\u6642\u60f3\u51fa\u96fb\u5b50\u66f8\u5e97<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u5091\u592b\uff0e\u8c9d\u4f50\u65af\uff08Jeff Bezos\uff09\u4efb\u8077\u65bc D.E. Shaw \u96c6\u5718\u671f\u9593\uff0c\u505a\u904e\u5f88\u591a\u4e8b\u60c5\uff0c\u4ed6\u8ca0\u8cac\u7684\u6700\u5f8c\u4e00\u9805\u5de5\u4f5c\uff0c \u662f\u548c\u6211\u5408\u4f5c\u898f\u5283\u5404\u7a2e\u79d1\u6280\u76f8\u95dc\u7684\u5275\u696d\u69cb\u60f3\u3002\u6211\u5011\u5f97\u5230\u7684\u69cb\u60f3\u4e4b\u4e00\uff0c\u5c31\u662f\u5275\u7acb\u4e00\u5bb6\u5168\u7403\u96fb\u5b50\u66f8\u5e97\u3002\u6211\u5011\u767c\u73fe\u4e86\u4e00\u4efd\u96fb\u5b50\u76ee\u9304\uff0c\u88e1\u9762\u662f\u4e0a\u767e\u842c\u672c\u53ef\u4ee5\u5411\u5927\u578b\u66f8\u7c4d\u7d93\u92b7<br>\u5546\u82f1\u683c\u6717(Ingram&#8217;s)\u8a02\u8cfc\u7684\u66f8\u7c4d\u3002\u5091\u592b\u548c\u6211\u65bc\u662f\u505a\u4e86\u7c97\u7565\u7684\u4f30\u8a08\uff0c\u767c\u73fe\u9019\u6a23\u7684\u65b0 \u5275\u4e26\u4e0d\u9700\u8981\u6295\u5165\u898f\u6a21\u592a\u5927\u7684\u8cc7\u91d1\u3002\u96d6\u7136\u6211\u5011\u5169\u500b\u4eba\u7576\u6642\u90fd\u6c92\u6709\u6599\u60f3\u5230\u9019\u6a23\u7684\u4e8b\u696d \u80fd\u5920\u9054\u5230\u591a\u5927\u7684\u6210\u679c\uff0c\u4f46\u6211\u5011\u7684\u78ba\u8a8d\u70ba\u90a3\u662f\u53ef\u884c\u7684\u3002\u4e8b\u60c5\u9084\u6c92\u6709\u591a\u5927\u9032\u5c55\u4e4b\u524d\uff0c \u6709\u4e00\u5929\uff0c\u5091\u592b\u8981\u6c42\u548c\u6211\u8ac7\u4e00\u8ac7\u3002\u6211\u5011\u4e00\u8d77\u8d70\u5230\u4e2d\u592e\u516c\u5712\uff0c\u4ed6\u544a\u8a34\u6211\uff0c\u4ed6\u5df2\u7d93\u6df1\u6df1\u8457\u8ff7\u65bc\u5275\u696d\uff0c\u60f3\u8981\u7368\u81ea\u5be6\u73fe\u6211\u5011\u4e4b\u524d\u8ac7\u5230\u7684\u90a3\u4e00\u500b\u5275\u696d\u69cb\u60f3\uff0c\u65bc\u662f\u4f86\u554f\u6211\u7684\u610f\u898b\u3002 \u4f60\u6709\u4ec0\u9ebc\u53cd\u61c9?<\/p>\n\n\n\n<p>\u6211\u544a\u8a34\u4ed6\uff0c\u6211\u771f\u7684\u5f88\u4e0d\u5e0c\u671b\u4ed6\u96e2\u958b\uff0c\u8b93\u4ed6\u77e5\u9053\u6211\u975e\u5e38\u80af\u5b9a\u4ed6\u5c0d D.E. Shaw \u96c6\u5718\u7684 \u91cd\u5927\u8ca2\u737b\uff0c\u66f4\u5f37\u8abf\u6211\u5341\u5206\u770b\u597d\u4ed6\u5728\u516c\u53f8\u7684\u767c\u5c55\u3002\u53ef\u662f\uff0c\u6211\u540c\u6642\u4e5f\u544a\u8a34\u4ed6\uff0c\u6211\u4e5f\u66fe \u7d93\u5728\u67d0\u500b\u6642\u5019\u505a\u51fa\u548c\u4ed6\u76f8\u540c\u7684\u6c7a\u5b9a\uff0c\u6240\u4ee5\u6211\u5b8c\u5168\u77ad\u89e3\u4ed6\u60f3\u8981\u81ea\u5df1\u5275\u696d\u7684\u60f3\u6cd5\uff0c\u800c\u4e14\u4e5f\u4e0d\u6253\u7b97\u52f8\u963b\u4ed6\u3002\u6211\u5411\u4ed6\u4fdd\u8b49\uff0c\u7531\u65bc\u6211\u5011\u4e26\u6c92\u6709\u82b1\u592a\u591a\u6642\u9593\u8ac7\u8ad6\u96fb\u5b50\u66f8\u5e97\u7684\u69cb \u60f3\uff0c\u6240\u4ee5\u6211\u4e26\u4e0d\u53cd\u5c0d\u4ed6\u55ae\u7368\u5be6\u73fe\u9019\u500b\u69cb\u60f3\u3002\u6211\u9084\u544a\u8a34\u4ed6\uff0c\u6211\u5011\u5c07\u4f86\u6216\u8a31\u6703\uff0c\u4e5f\u6216 \u8a31\u4e0d\u6703\u548c\u4ed6\u7af6\u722d\uff0c\u4ed6\u5247\u8868\u793a\u9019\u6a23\u5f88\u516c\u5e73\u3002<\/p>\n\n\n\n<p>\u5091\u592b\u7684\u96e2\u8077\u76f8\u7576\u548c\u7766\uff0c\u7576\u4ed6\u5b8c\u6210\u4e9e\u99ac\u905c\u7b2c\u4e00\u5957\u7cfb\u7d71\u6e2c\u8a66\u7248\u6642\uff0c\u4ed6\u9084\u9080\u8acb\u6211\u548c\u516c\u53f8 \u5176\u4ed6\u540c\u4e8b\u5354\u52a9\u4ed6\u9032\u884c\u6e2c\u8a66\u3002\u4e00\u76f4\u5230\u6211\u771f\u7684\u4f7f\u7528\u9019\u500b\u6e2c\u8a66\u7248\u8a02\u8cfc\u7b2c\u4e00\u672c\u66f8\u6642\uff0c\u6211\u624d\u771f\u6b63\u610f\u8b58\u5230\u9019\u500b\u69cb\u60f3\u7684\u5a01\u529b\u6240\u5728\u3002\u5091\u592b\u9084\u5728\u6211\u7684\u516c\u53f8\u6642\uff0c\u96d6\u7136\u6211\u5011\u8a0e\u8ad6\u904e\u96fb\u5b50\u66f8\u5e97\u7684\u69cb\u60f3\uff0c\u4f46\u5091\u592b\u96e2\u958b D.E. Shaw \u4e4b\u5f8c\u6240\u505a\u7684\uff0c\u624d\u662f\u771f\u6b63\u8b93\u4e9e\u99ac\u905c\u9054\u6210\u4eca\u65e5\u6210\u5c31\u3002<br><\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"116\" height=\"80\" src=\"https:\/\/www.granitefirm.com\/blog\/wp-content\/uploads\/2026\/11\/david-shaw-Custom.jpg\" alt=\"\u5fb7\u52ad\u5275\u8fa6\u4eba\u5927\u885b\u856d\n\" class=\"wp-image-79667\"\/><\/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\/2026\/07\/12\/%e9%87%8f%e5%8c%96%e4%b9%8b%e7%8e%8b%e5%be%b7%e5%8a%ad%e5%89%b5%e8%be%a6%e4%ba%ba%e5%a4%a7%e8%a1%9b%e8%95%ad%ef%bc%88david-shaw\/\">\u91cf\u5316\u4e4b\u738b\u5fb7\u52ad\u5275\u8fa6\u4eba\u5927\u885b\u856d\uff08David Shaw) <\/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\/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\/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\/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\/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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LP\uff09\u7684\u65e5\u5e38\u71df\u904b\u3002<\/p>\n","protected":false},"author":1,"featured_media":79667,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[442],"tags":[165,1794,1795,1796],"class_list":["post-79664","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-quantitative-investing","tag-amzn","tag-david-shaw","tag-de-shaw","tag-1796"],"_links":{"self":[{"href":"https:\/\/www.granitefirm.com\/blog\/wp-json\/wp\/v2\/posts\/79664","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=79664"}],"version-history":[{"count":21,"href":"https:\/\/www.granitefirm.com\/blog\/wp-json\/wp\/v2\/posts\/79664\/revisions"}],"predecessor-version":[{"id":81311,"href":"https:\/\/www.granitefirm.com\/blog\/wp-json\/wp\/v2\/posts\/79664\/revisions\/81311"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.granitefirm.com\/blog\/wp-json\/wp\/v2\/media\/79667"}],"wp:attachment":[{"href":"https:\/\/www.granitefirm.com\/blog\/wp-json\/wp\/v2\/media?parent=79664"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.granitefirm.com\/blog\/wp-json\/wp\/v2\/categories?post=79664"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.granitefirm.com\/blog\/wp-json\/wp\/v2\/tags?post=79664"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}