{"id":716944,"date":"2026-02-05T22:24:17","date_gmt":"2026-02-05T14:24:17","guid":{"rendered":"https:\/\/www.alphaseek.cn\/?p=716944"},"modified":"2026-02-05T22:24:17","modified_gmt":"2026-02-05T14:24:17","slug":"%e8%af%b4%e7%9c%9f%e7%9a%84%ef%bc%9a%e6%af%94%e7%89%b9%e5%b8%81%e5%88%b0%e5%ba%95%e6%80%8e%e4%b9%88%e4%ba%86%ef%bc%9f","status":"publish","type":"post","link":"https:\/\/www.alphaseek.cn\/?p=716944","title":{"rendered":"\u8bf4\u771f\u7684\uff1a\u6bd4\u7279\u5e01\u5230\u5e95\u600e\u4e48\u4e86\uff1f"},"content":{"rendered":"<p>\u4f5c\u8005\uff1a\u5927\u536b\u30fb\u6208\u5fb7\u66fc\uff08David Goldman\uff09<\/p>\n<p><a href=\"https:\/\/www.alphaseek.cn\/?tag=%e6%af%94%e7%89%b9%e5%b8%81\" title=\"View all posts in \u6bd4\u7279\u5e01\" target=\"_blank\" class=\"tag_link\">\u6bd4\u7279\u5e01<\/a>\u8868\u73b0\u53cd\u5e38\u3002<\/p>\n<p>\u8fd9\u4e00\u5168\u7403\u6700\u77e5\u540d\u7684<a href=\"https:\/\/www.alphaseek.cn\/?tag=%e5%8a%a0%e5%af%86%e8%b4%a7%e5%b8%81\" title=\"View all posts in \u52a0\u5bc6\u8d27\u5e01\" target=\"_blank\" class=\"tag_link\">\u52a0\u5bc6\u8d27\u5e01<\/a>\u81ea\u53bb\u5e74 10 \u6708\u5cf0\u503c\u4ee5\u6765\u5df2\u66b4\u8dcc<strong>44%<\/strong>\uff0c\u5468\u56db\u66f4\u662f<strong>15 \u4e2a\u6708\u6765\u9996\u6b21\u8dcc\u7834 7 \u4e07\u7f8e\u5143<\/strong>\u3002<\/p>\n<p>\u4e8b\u5b9e\u4e0a\uff0c\u8fd9\u79cd\u4e0b\u8dcc\u672c\u8eab\u5e76\u4e0d\u7f55\u89c1\u3002\u52a0\u5bc6<a href=\"https:\/\/www.alphaseek.cn\/?tag=%e8%b4%a7%e5%b8%81\" title=\"View all posts in \u8d27\u5e01\" target=\"_blank\" class=\"tag_link\">\u8d27\u5e01<\/a>\u4ee5\u5267\u70c8\u6ce2\u52a8\u8457\u79f0\uff0c\u5386\u53f2\u4e0a\u51fa\u73b0\u8fc7\u591a\u6b21\u6bd4\u6b64\u6b21\u66f4\u4e25\u91cd\u7684\u5d29\u76d8\u3002<\/p>\n<p><strong>\u53cd\u5e38\u4e4b\u5904\u5728\u4e8e<\/strong>\uff1a\u6bd4\u7279\u5e01\u8fd9\u56db\u4e2a\u6708\u7684\u66b4\u8dcc\uff0c\u53d1\u751f\u5728\u7406\u8bba\u4e0a\u672c\u8be5\u5bf9\u5176<strong>\u6781\u4e3a\u6709\u5229<\/strong>\u7684\u65f6\u671f\u3002<\/p>\n<p>\u52a0\u5bc6\u8d27\u5e01\u591a\u5934\u957f\u671f\u4ee5\u6765\u4e3b\u5f20\uff0c\u5e94\u5c06\u6bd4\u7279\u5e01\u89c6\u4e3a \u201c\u6570\u5b57<a href=\"https:\/\/www.alphaseek.cn\/?tag=%e9%bb%84%e9%87%91\" title=\"View all posts in \u9ec4\u91d1\" target=\"_blank\" class=\"tag_link\">\u9ec4\u91d1<\/a>\u201d\u2014\u2014 \u4e00\u79cd\u65b0\u578b\u907f\u9669\u8d44\u4ea7\uff0c<a href=\"https:\/\/www.alphaseek.cn\/?tag=%e6%8a%95%e8%b5%84\" title=\"View all posts in \u6295\u8d44\" target=\"_blank\" class=\"tag_link\">\u6295\u8d44<\/a>\u8005\u53ef\u5728\u5e02\u573a\u52a8\u8361\u65f6\u5c06\u8d44\u91d1\u5b58\u5165\u5176\u4e2d\u3002<\/p>\n<p>\u6309\u7406\u8bf4\uff0c\u6b64\u523b\u6b63\u662f\u907f\u9669\u8d44\u4ea7\u5927\u6da8\u7684\u5408\u7406\u65f6\u673a\u3002<\/p>\n<p>\u4eca\u5e74\u5730\u7f18\u653f\u6cbb\u5c40\u52bf\u6108\u53d1\u7d27\u5f20\uff1a<a href=\"https:\/\/www.alphaseek.cn\/?tag=%e7%be%8e%e5%9b%bd\" title=\"View all posts in \u7f8e\u56fd\" target=\"_blank\" class=\"tag_link\">\u7f8e\u56fd<\/a>\u7f62\u514d\u59d4\u5185\u745e\u62c9\u9886\u5bfc\u4eba\u540e\uff0c<a href=\"https:\/\/www.alphaseek.cn\/?tag=%e7%89%b9%e6%9c%97%e6%99%ae\" title=\"View all posts in \u7279\u6717\u666e\" target=\"_blank\" class=\"tag_link\">\u7279\u6717\u666e<\/a>\u603b\u7edf\u5a01\u80c1\u8981\u88ad\u51fb\u4f0a\u6717\uff1b\u7279\u6717\u666e\u8fd1\u671f\u8fd8\u5c31\u683c\u9675\u5170\u5c9b\u95ee\u9898\u9488\u5bf9<a href=\"https:\/\/www.alphaseek.cn\/?tag=%e6%ac%a7%e6%b4%b2\" title=\"View all posts in \u6b27\u6d32\" target=\"_blank\" class=\"tag_link\">\u6b27\u6d32<\/a>\u548c\u52a0\u62ff\u5927\u76df\u53cb\u53d1\u96be\uff0c\u5e76\u5a01\u80c1\u5bf9<a href=\"https:\/\/www.alphaseek.cn\/?tag=%e9%9f%a9%e5%9b%bd\" title=\"View all posts in \u97e9\u56fd\" target=\"_blank\" class=\"tag_link\">\u97e9\u56fd<\/a>\u52a0\u5f81\u9ad8\u989d\u5173\u7971\u3002<\/p>\n<p>\u4e0e\u6b64\u540c\u65f6\uff0c<a href=\"https:\/\/www.alphaseek.cn\/?tag=%e4%ba%ba%e5%b7%a5%e6%99%ba%e8%83%bd\" title=\"View all posts in \u4eba\u5de5\u667a\u80fd\" target=\"_blank\" class=\"tag_link\">\u4eba\u5de5\u667a\u80fd<\/a>\u7684\u91cd\u5927\u7a81\u7834\u8ba9\u80a1\u5e02\u6295\u8d44\u8005\u4eba\u5fc3\u60f6\u60f6\u3002Anthropic \u7684 Claude \u73b0\u5df2\u80fd\u4e3a\u5f8b\u6240\u5904\u7406\u4e1a\u52a1\uff0c\u5bfc\u81f4\u8f6f\u4ef6\u80a1\u5927\u5e45\u4e0b\u632b\u3002<\/p>\n<p>\u6050\u614c\u6307\u6807\u7eb7\u7eb7\u62c9\u54cd\u8b66\u62a5\u3002CNN \u6050\u60e7\u4e0e\u8d2a\u5a6a\u6307\u6570\u5904\u4e8e \u201c\u6050\u614c\u201d 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\u7f8e\u5143<\/strong>\u3002\u9ec4\u91d1\u662f\u7ec8\u6781\u907f\u9669\u8d44\u4ea7\uff1a\u76f8\u5bf9\u7a00\u7f3a\u3001\u6709\u5f62\u53ef\u89e6\u3001\u80fd\u4fdd\u503c\uff0c\u5373\u4fbf\u60c5\u51b5\u518d\u7cdf\uff0c\u4e5f\u80fd\u5b9e\u5b9e\u5728\u5728\u5730\u85cf\u5728\u5e8a\u57ab\u4e0b\u3002<\/p>\n<p>\u4f46\u6bd4\u7279\u5e01\u5374<strong>\u9006\u52bf\u4e0b\u8dcc<\/strong>\u3002\u5c3d\u7ba1\u5c40\u52bf\u5145\u6ee1\u4e0d\u786e\u5b9a\u6027\uff0c\u5176\u4eca\u5e74\u4ee5\u6765\u4ecd\u4e0b\u8dcc<strong>20%<\/strong>\u3002\u4e8b\u5b9e\u4e0a\uff0c\u300a\u5927\u7a7a\u5934\u300b\u4e3b\u89d2\u539f\u578b\u8fc8\u514b\u5c14\u30fb\u4f2f\u91cc\uff08Michael Burry\uff09\u8fd1\u671f\u5728 Substack \u5e73\u53f0\u53d1\u6587\u79f0\uff0c\u8fd1\u671f\u91d1\u94f6\u4ef7\u683c\u5267\u70c8\u6ce2\u52a8\uff0c\u539f\u56e0\u662f\u6bd4\u7279\u5e01\u591a\u5934<strong>\u629b\u552e\u8d35\u91d1\u5c5e\u5934\u5bf8<\/strong>\uff0c\u4ee5\u5f25\u8865\u52a0\u5bc6\u8d27\u5e01\u4e0b\u8dcc\u5e26\u6765\u7684\u635f\u5931\u3001\u633d\u56de\u989c\u9762\u3002<\/p>\n<p>\u6bd4\u7279\u5e01\u7684\u66b4\u8dcc\u610f\u5473\u7740\u5b83<strong>\u5b8c\u5168\u5931\u53bb\u4e86 \u201c\u7279\u6717\u666e\u7ea2\u5229\u201d<\/strong>\u30022024 \u5e74 11 \u6708\u7279\u6717\u666e\u80dc\u9009\u540e\uff0c\u52a0\u5bc6\u8d27\u5e01\u6295\u8d44\u8005\u4e00\u7247\u6b22\u547c\uff0c\u6bd4\u7279\u5e01\u7b49\u52a0\u5bc6\u8d27\u5e01\u5e94\u58f0\u5927\u6da8 \u2014\u2014 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\u3002\u9ec4\u91d1\uff0810 \u6708\u4ee5\u6765\u4e0a\u6da8 24%\uff09\u4e0e\u6bd4\u7279\u5e01\uff08\u4e0b\u8dcc 44%\uff09\u7684\u6301\u7eed\u80cc\u79bb\uff0c\u8fdb\u4e00\u6b65\u5f3a\u5316\u4e86\u8fd9\u4e00\u60c5\u7eea\u3002<\/p>\n<p>\u7f8e\u56fd\u8d22\u957f\u65af\u79d1\u7279\u30fb\u8d1d\u68ee\u7279\u5468\u4e09\u5728\u4f17\u8bae\u9662\u91d1\u878d\u670d\u52a1\u59d4\u5458\u4f1a\u4f5c\u8bc1\u65f6\u8868\u793a\uff0c<a href=\"https:\/\/www.alphaseek.cn\/?tag=%e8%b4%a2%e6%94%bf%e9%83%a8\" title=\"View all posts in \u8d22\u653f\u90e8\" target=\"_blank\" class=\"tag_link\">\u8d22\u653f\u90e8<\/a><strong>\u65e0\u6743\u7a33\u5b9a\u52a0\u5bc6\u8d27\u5e01\u5e02\u573a<\/strong>\uff0c\u6b64\u4e3e\u66f4\u662f\u96ea\u4e0a\u52a0\u971c\u3002<\/p>\n<p>\u4e0d\u8fc7\uff0c\u6bd4\u7279\u5e01\u6295\u8d44\u8005\u6216\u8bb8\u80fd\u770b\u5230<strong>\u4e00\u7ebf\u66d9\u5149<\/strong>\u3002\u6b64\u6b21\u5d29\u76d8\u5e76\u975e\u65b0\u8d8b\u52bf \u2014\u2014 \u6211\u4eec\u65e9\u5df2\u5386\u8fc7\u7c7b\u4f3c\u60c5\u51b5\u3002<\/p>\n<p>2014 \u5e74\uff0c\u52a0\u5bc6\u8d27\u5e01\u4ea4\u6613\u6240\u95e8\u5934\u6c9f\uff08Mt\uff0e Gox\uff09\u906d\u9ed1\u5ba2\u653b\u51fb\uff0c\u52a0\u5bc6\u8d27\u5e01\u4ef7\u683c\u66b4\u8dcc\uff1b2018 \u5e74\uff0c\u53d7\u9996\u6b21<a href=\"https:\/\/www.alphaseek.cn\/?tag=%e4%bb%a3%e5%b8%81%e5%8f%91%e8%a1%8c\" title=\"View all posts in \u4ee3\u5e01\u53d1\u884c\" target=\"_blank\" class=\"tag_link\">\u4ee3\u5e01\u53d1\u884c<\/a>\uff08<a href=\"https:\/\/www.alphaseek.cn\/?tag=ico\" title=\"View all posts in ICO\" target=\"_blank\" class=\"tag_link\">ICO<\/a>\uff09\u6ce1\u6cab\u7834\u88c2\u5f15\u53d1\u7684\u6050\u614c\u5f71\u54cd\uff0c\u6bd4\u7279\u5e01\u66b4\u8dcc<strong>74%<\/strong>\uff0c\u521b\u4e0b\u53f2\u4e0a\u6700<a href=\"https:\/\/www.alphaseek.cn\/?tag=%e5%a4%a7%e8%b7%8c\" title=\"View all posts in \u5927\u8dcc\" target=\"_blank\" class=\"tag_link\">\u5927\u8dcc<\/a>\u5e45\uff1b2021 \u81f3 2022 \u5e74\uff0c\u76d1\u7ba1\u538b\u529b\u53ca FTX <a href=\"https:\/\/www.alphaseek.cn\/?tag=%e4%b8%91%e9%97%bb\" title=\"View all posts in \u4e11\u95fb\" target=\"_blank\" class=\"tag_link\">\u4e11\u95fb<\/a>\u91cd\u521b\u5e02\u573a\u4fe1\u5fc3\uff0c\u52a0\u5bc6\u8d27\u5e01\u63a5\u8fde\u5d29\u76d8\u3002<\/p>\n<p>\u6bcf\u4e00\u6b21\u5371\u673a\u540e\uff0c\u6bd4\u7279\u5e01\u90fd\u5728<strong>\u4e00\u5e74\u534a\u5185<\/strong>\u5b9e\u73b0\u5168\u9762\u53cd\u5f39\u3002<\/p>\n<div><\/div>\n<p>  <script type=\"text\/javascript\" src=\"\/\/finance.sina.com.cn\/tgdata\/zw_account_stock.js\" charset=\"utf-8\"><\/script>                                                                                                     <\/p>\n<p>\u8d23\u4efb\u7f16\u8f91\uff1a\u90ed\u660e\u715c <\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u4f5c\u8005\uff1a\u5927\u536b\u30fb\u6208\u5fb7\u66fc\uff08David Goldman\uff09 \u6bd4\u7279\u5e01\u8868\u73b0\u53cd\u5e38\u3002 \u8fd9\u4e00\u5168\u7403\u6700\u77e5\u540d\u7684\u52a0\u5bc6\u8d27\u5e01\u81ea\u53bb\u5e74 10 \u6708\u5cf0 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"aside","meta":[],"categories":[4],"tags":[172,134,284,148,319,282,353,308,241,186,22,79,367,70,184,34,231,192,51],"views":54,"_links":{"self":[{"href":"https:\/\/www.alphaseek.cn\/index.php?rest_route=\/wp\/v2\/posts\/716944"}],"collection":[{"href":"https:\/\/www.alphaseek.cn\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.alphaseek.cn\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.alphaseek.cn\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.alphaseek.cn\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=716944"}],"version-history":[{"count":0,"href":"https:\/\/www.alphaseek.cn\/index.php?rest_route=\/wp\/v2\/posts\/716944\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.alphaseek.cn\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=716944"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.alphaseek.cn\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=716944"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.alphaseek.cn\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=716944"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}