\n\t <\/p>\n
\n\t\u6709\u53e5\u4fd7\u8bdd\u8bf4\uff1a“Cash is King”\uff0c\u4e5f\u5c31\u662f\u8bf4\uff0c\u6301\u6709\u73b0\u91d1\u7684\u4eba\u5c31\u597d\u50cf\u662f\u7687\u4e0a\u4e00\u6837\uff0c\u800c\u73b0\u91d1\u5c31\u662f\u6700\u4f73\u7684\u8d44\u4ea7\u3002<\/p>\n
\n\t\u8fd9\u53e5\u8bdd\uff0c\u4f3c\u4e4e\u5df2\u7ecf\u4e0d\u7b26\u5408\u73b0\u5b9e\u60c5\u51b5\uff0c\u7136\u800c\uff0c\u5374\u6709\u4e0d\u5c11\u6295\u8d44\u8005\u8fd8\u8ba4\u4e3a\uff0c\u4e3a\u4e86\u964d\u4f4e\u98ce\u9669\uff0c\u6295\u8d44\u7ec4\u5408\u91cc\u5e94\u8be5\u6301\u6709\u5927\u91cf\u73b0\u91d1\u3002<\/p>\n
\n\t\u8fd9\u79cd\u505a\u6cd5\u4e0d\u4ec5\u672c\u8eab\u6709\u98ce\u9669\uff0c\u8fd8\u4f1a\u9762\u5bf9\u673a\u4f1a\u6210\u672c\uff08opportunity costs\uff09\u800c\u4e27\u5931\u6295\u8d44\u56de\u62a5\uff0c\u66f4\u91cd\u8981\u7684\u662f\uff0c\u5728\u9ad8\u901a\u8d27\u81a8\u80c0\u4e0d\u65ad\u5145\u65a5\u7684\u5927\u73af\u5883\u4e0b\uff0c\u73b0\u91d1\u7684\u5b9e\u8d28\u4ef7\u503c\u4e5f\u968f\u4e4b\u4e0b\u6ed1\u3002<\/p>\n
\n\t2008\u5e74\u91d1\u878d\u5371\u673a\u7206\u53d1\u540e\uff0c\u79c1\u4eba\u6295\u8d44\u8005\u5bf9\u90a3\u4e9b\u5e26\u98ce\u9669\u7684\u6295\u8d44\u907f\u800c\u8fdc\u4e4b\u3002\u745e\u94f6(Credit Suisse)\u7684\u79c1\u4eba\u94f6\u884c\u4f30\u8ba1\uff0c\u79c1\u4eba\u6295\u8d44\u8005\u76ee\u524d\u624b\u5934\u4e0a\u7684\u8d44\u4ea7\u6709\u5927\u7ea630%\u662f\u73b0\u91d1\uff0c\u8fd9\u6bd4\u9884\u671f\u7684\u957f\u671f\u76ee\u6807\u6765\u5f97\u9ad8\u3002<\/p>\n
\n\t\u5bf9\u4e8e\u90a3\u4e9b\u624b\u4e2d\u6301\u6709\u5927\u91cf\u6ca1\u6709\u5229\u606f\u7684\uff08non-interest-bearing\uff09\u73b0\u91d1\u7684\u6295\u8d44\u8005\uff0c\u771f\u6b63\u7684\u98ce\u9669\u5230\u5e95\u5728\u54ea\u91cc\uff1f\u5176\u5b9e\uff0c\u957f\u65f6\u95f4\u7684\u6301\u6709\u73b0\u91d1\u548c\u4f4e\u6536\u76ca\u7684\u8d44\u4ea7\uff08\u53c8\u6216\u8005\u4e00\u4e9b\u8d1f\u56de\u62a5\u7684\u80a1\u7968\uff09\u770b\u4f3c\u5b89\u5168\u7a33\u5b9a\uff0c\u5374\u4e25\u91cd\u524a\u5f31\u957f\u671f\u6295\u8d44\u56de\u62a5\u3002<\/p>\n
\n\t\u4e00\u4e2a\u6700\u660e\u663e\u7684\u8d1f\u9762\u5f71\u54cd\u662f\uff0c\u6301\u6709\u73b0\u91d1\u7684\u673a\u4f1a\u6210\u672c\uff0c\u4f8b\u5982\uff0c\u9519\u8fc7\u5f88\u597d\u7684\u8d44\u672c\u589e\u503c\u673a\u4f1a\u6216\u80a1\u606f\u6536\u5165\u3002\u5176\u6b21\uff0c\u7531\u4e8e\u6301\u6709\u5927\u91cf\u7684\u4e3b\u6743\u503a\u52a1\uff0c\u901a\u80c0\u6c34\u5e73\u4e5f\u4f1a\u52a0\u901f\u63d0\u5347\u3002\u800c\u6295\u8d44\u8005\u8ba4\u4e3a\u6700\u5b89\u5168\u7684\u73b0\u91d1\u8d44\u4ea7\uff0c\u5b9e\u9645\u4e0a\u98ce\u9669\u6700\u5927\uff0c\u800c\u9020\u6210\u8fd9\u79cd\u7ed3\u679c\u7684\u5143\u51f6\u5c31\u662f\u901a\u8d27\u81a8\u80c0\u3002<\/p>\n
\n\t\u5728\u6b27\u6d32\u548c\u7f8e\u56fd\uff0c\u901a\u8d27\u81a8\u80c0\u7387\u5927\u7ea6\u4e3a2%\u5de6\u53f3\uff0c\u800c\u77ed\u671f\u94f6\u884c\u5229\u7387\u51e0\u4e4e\u7b49\u4e8e\u96f6\u3002\u6362\u53e5\u8bdd\u8bf4\uff0c\u73b0\u91d1\u7684\u771f\u5b9e\u4ef7\u503c\u6b63\u5728\u964d\u4f4e\uff0c\u4e5f\u5c31\u662f\u8bf4\uff0c\u6301\u6709\u73b0\u91d1\u53ef\u80fd\u610f\u5473\u7740\u6bcf\u5e74\u4ed8\u51fa2%\u7684\u6210\u672c\u4ee3\u4ef7\u3002\u7ecf\u8fc7\u51e0\u5e74\uff0c\u6240\u6301\u6709\u7684\u73b0\u91d1\uff0c\u53ef\u80fd\u906d\u53d7\u66f4\u6c89\u91cd\u7684\u6298\u635f\u3002\u540c\u65f6\uff0c\u6301\u6709\u73b0\u91d1\u7684\u771f\u5b9e\u4ef7\u503c\u4e0a\u5347\u7a7a\u95f4\u51e0\u4e4e\u4e3a\u96f6\uff0c\u6240\u4ee5\uff0c\u6295\u8d44\u8005\u5e94\u5bf9\u673a\u4f1a\u6210\u672c\u6709\u6e05\u695a\u7684\u6982\u5ff5\u3002<\/p>\n
\n\t\u52a8\u8361\u5e02\u573a<\/strong> \u6d3b\u6027\u6295\u8d44<\/strong><\/p>\n \n\t2008\u5e74\u7684\u5168\u7403\u91d1\u878d\u5371\u673a\u4e8b\u4ef6\uff0c\u53ef\u4ee5\u8bf4\u6e90\u81ea\u4eba\u7c7b\u7684\u8d2a\u5a6a\u3002\u5f53\u7ecf\u6d4e\u589e\u957f\u4f4e\u4e8e\u5e73\u5747\u5e02\u573a\u56de\u62a5\u6c34\u5e73\uff0c\u6295\u8d44\u8005\u5bf9\u73b0\u91d1\u4ee5\u5916\u8d44\u4ea7\u7f3a\u4e4f\u4fe1\u4efb\uff0c\u6295\u8d44\u6001\u5ea6\u5c31\u53d8\u5f97\u66f4\u8c28\u614e\u4e86\u3002\u800c\u4e14\uff0c\u6bcf\u5929\u7684\u5934\u6761\u4f3c\u4e4e\u90fd\u4f1a\u4ee5\u4e0d\u540c\u89d2\u5ea6\u5f71\u54cd\u5e02\u573a\uff0c\u5bc6\u96c6\u7684\u65b0\u95fb\u9a71\u4f7f\u6295\u8d44\u8005\u7684\u65e5\u5e38\u6d3b\u52a8\u53d8\u5f97\u66f4\u52a0\u6ce2\u52a8\u3002<\/p>\n \n\t\u5f53\u73af\u5883\u53d8\u5f97\u52a8\u8361\u548c\u590d\u6742\uff0c\u673a\u4f1a\u901a\u5e38\u4e0d\u4f1a\u4eb2\u7750\u90a3\u4e9b\u4ec5\u9760\u81ea\u5df1\u505a\u51b3\u5b9a\u7684\u6295\u8d44\u8005\u3002\u6839\u636e\u4e00\u9879\u7531\u7f8e\u56fd\u7814\u7a76\u4eba\u5458\u64b0\u5199\u7684\u62a5\u544a\u6307\u51fa\uff1a“\u6295\u8d44\u8005\u4e0d\u65ad\u8ffd\u9010\u56de\u62a5\uff0c\u4f46\u662f\u8fd9\u79cd\u65b9\u5f0f\u4e5f\u4f24\u5bb3\u81ea\u5df1\u3002\u4ed6\u4eec\u628a\u8d44\u91d1\u6295\u8fdb\u90a3\u4e9b\u8fc7\u53bb\u8868\u73b0\u4e0d\u9519\u7684\u57fa\u91d1\u7ec4\u5408\uff0c\u7136\u540e\u9519\u8bef\u5730\u4ee5\u4e3a\u8fc7\u53bb\u7684\u8f89\u714c\u56de\u62a5\u80fd\u591f\u91cd\u73b0\u3002”<\/p>\n \n\t\u6709\u4e9b\u4eba\u8ba4\u4e3a\uff0c\u81ea\u8eab\u4eb2\u5386\u4eb2\u4e3a\u7684\u6295\u8d44\u65b9\u5f0f\u662f\u5f88\u96be\u8fbe\u5230\u9884\u671f\u4e2d\u7684\u6548\u679c\u3002\u8fd9\u5c31\u6709\u70b9\u50cf\u5a5a\u793c\u5e86\u5178\u4e0a\uff0c\u4e3b\u529e\u8005\u53ef\u4ee5\u5bf9\u5916\u5bfb\u6c42\u81ea\u52a9\u9910\u670d\u52a1\uff0c\u5f53\u7136\uff0c\u53a8\u5e08\u4e5f\u53ef\u4ee5\u81ea\u5df1\u5728\u53a8\u623f\u91cc\u7ed9\u6765\u5bbe\u4eec\u505a\u9910\u996e\u3002\u540c\u6837\u7684\u9053\u7406\uff0c\u5f53\u6295\u8d44\u51fa\u73b0\u4e00\u4e9b\u4e0d\u786e\u5b9a\u6027\u56e0\u7d20\u65f6\uff0c\u6295\u8d44\u8005\u53ef\u4ee5\u5bfb\u627e\u8d44\u4ea7\u7ba1\u7406\u4e13\u5bb6\u3002\u8fd9\u6837\uff0c\u4e0d\u4ec5\u589e\u5f3a\u6295\u8d44\u4fbf\u5229\u5ea6\uff0c\u4e5f\u5927\u5927\u5730\u964d\u4f4e\u4e86\u98ce\u9669\uff0c\u8fd8\u63d0\u9ad8\u6295\u8d44\u4e1a\u7ee9\u6548\u7387\u3002\u6295\u8d44\u8005\u4e5f\u65e0\u9700\u4e3a\u4e86\u65e5\u5e38\u7684\u51b3\u7b56\u800c\u82e6\u607c\uff0c\u901a\u8fc7\u8d44\u4ea7\u7ba1\u7406\u53ef\u4ee5\u8ba9\u4ed6\u4eec\u770b\u5230\u4e00\u4e2a\u66f4\u5927\u7684\u8fdc\u666f\u3002<\/p>\n \n\t\u8fd9\u573a\u5168\u7403\u91d1\u878d\u5371\u673a\uff0c\u4ece\u53e6\u4e00\u4e2a\u89d2\u5ea6\u6765\u770b\uff0c\u589e\u52a0\u4e86\u4eba\u4eec\u5bf9\u6295\u8d44\u7ba1\u7406\u65b9\u6848\u7684\u4e0d\u4fe1\u4efb\u611f\u3002\u867d\u7136\u57fa\u91d1\u7ecf\u7406\u7684\u8868\u73b0\u4e0d\u80fd\u603b\u662f\u4f18\u4e8e\u5e02\u573a\uff0c\u4f46\u662f\u4e5f\u6709\u4f18\u79c0\u8005\u5728\u957f\u671f\u663e\u793a\u5353\u8d8a\u7684\u4e1a\u7ee9\u8868\u73b0\u3002<\/p>\n \n\t\u6295\u8d44\u4e5f\u8981\u6c42\u8010\u5fc3\uff0c\u4e3a\u4e86\u5b9e\u73b0\u957f\u671f\u56de\u62a5\uff0c\u8981\u80fd\u627f\u53d7\u77ed\u671f\u6295\u8d44\u9884\u671f\u3002\u957f\u671f\u6301\u6709(The buy-and-hold approach)\u603b\u662f\u4e0d\u88ab\u6295\u8d44\u8005\u6240\u91c7\u7eb3\uff0c\u4f46\u662f\u6295\u8d44\u8005\u5fc5\u987b\u4fdd\u6301\u8010\u5fc3\uff0c\u800c\u4e0d\u662f\u8ddf\u98ce\u4f3c\u7684\u6fc0\u8fdb\u4ea4\u6613\uff0c\u6216\u8005\u53ea\u987e\u773c\u524d\u5229\u76ca\uff0c\u5ffd\u89c6\u957f\u671f\u56de\u62a5\u3002<\/p>\n \n\t\u603b\u4e4b\uff0c\u73b0\u91d1\u5df2\u4e0d\u518d\u662f\u8d8a\u591a\u8d8a\u597d\uff0c\u61c2\u5f97\u5982\u4f55\u8fd0\u7528\u94b1\u8d5a\u94b1\u624d\u662f\u53d6\u6750\u4e4b\u9053\u3002<\/p>\n \n\t <\/p>\n","protected":false},"excerpt":{"rendered":" \u6709\u53e5\u4fd7\u8bdd\u8bf4\uff1a“Cash is King”\uff0c\u4e5f\u5c31\u662f\u8bf4\uff0c\u6301\u6709\u73b0\u91d1\u7684\u4eba\u5c31\u597d\u50cf\u662f […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-6350","post","type-post","status-publish","format-standard","hentry","category-5"],"_links":{"self":[{"href":"https:\/\/az.c.adneti.net\/cn\/index.php?rest_route=\/wp\/v2\/posts\/6350"}],"collection":[{"href":"https:\/\/az.c.adneti.net\/cn\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/az.c.adneti.net\/cn\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/az.c.adneti.net\/cn\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/az.c.adneti.net\/cn\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=6350"}],"version-history":[{"count":0,"href":"https:\/\/az.c.adneti.net\/cn\/index.php?rest_route=\/wp\/v2\/posts\/6350\/revisions"}],"wp:attachment":[{"href":"https:\/\/az.c.adneti.net\/cn\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=6350"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/az.c.adneti.net\/cn\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=6350"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/az.c.adneti.net\/cn\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=6350"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}