{"id":786511,"date":"2026-05-26T07:52:24","date_gmt":"2026-05-25T23:52:24","guid":{"rendered":"https:\/\/www.alphaseek.cn\/?p=786511"},"modified":"2026-05-26T07:52:24","modified_gmt":"2026-05-25T23:52:24","slug":"%e7%be%8e%e5%80%ba%e5%85%b3%e9%94%ae%e6%94%b6%e7%9b%8a%e7%8e%87%e6%9b%b2%e7%ba%bf%e9%87%8a%e6%94%be%e8%ad%a6%e7%a4%ba%e4%bf%a1%e5%8f%b7-%e6%b2%83%e4%bb%80%e6%97%b6%e4%bb%a3%e5%88%a9%e7%8e%87%e6%88%96","status":"publish","type":"post","link":"https:\/\/www.alphaseek.cn\/?p=786511","title":{"rendered":"\u7f8e\u503a\u5173\u952e\u6536\u76ca\u7387\u66f2\u7ebf\u91ca\u653e\u8b66\u793a\u4fe1\u53f7 \u6c83\u4ec0\u65f6\u4ee3\u5229\u7387\u6216\u5728\u66f4\u9ad8\u6c34\u5e73\u7ef4\u6301\u66f4\u4e45"},"content":{"rendered":"<p>\u4e00\u9879\u5173\u952e\u7684\u7f8e\u503a\u6536\u76ca\u7387\u5dee\u6307\u6807\u5df2\u6536\u7a84\u81f3\u4e00\u5e74\u6765\u7684\u6700\u4f4e\u6c34\u5e73\uff0c\u4ea4\u6613\u5458\u52a0\u5927\u62bc\u6ce8<a href=\"https:\/\/www.alphaseek.cn\/?tag=%e7%be%8e%e8%81%94%e5%82%a8\" title=\"View all posts in \u7f8e\u8054\u50a8\" target=\"_blank\" class=\"tag_link\">\u7f8e\u8054\u50a8<\/a>\u53ef\u80fd\u5728\u65b0\u4e3b\u5e2d\u51ef\u6587\u00b7\u6c83\u4ec0\u7684\u9886\u5bfc\u4e0b\u5c06\u5229\u7387\u5728\u8f83\u9ad8\u6c34\u5e73\u7ef4\u6301\u66f4\u957f\u65f6\u95f4\u3002<\/p>\n<p>5\u5e74\u671f\u548c30\u5e74\u671f\u56fd\u503a\u6536\u76ca\u7387\u5dee\u5df2\u6536\u7a84\u81f3\u7ea681\u4e2a\u57fa\u70b9\uff0c\u4e3a2025\u5e745\u6708\u4ee5\u6765\u7684\u6700\u4f4e\u6c34\u5e73\u3002\u8fd9\u662f\u4e00\u9879\u8861\u91cf<a href=\"https:\/\/www.alphaseek.cn\/?tag=%e6%8a%95%e8%b5%84\" title=\"View all posts in \u6295\u8d44\" target=\"_blank\" 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class=\"tag_link\">\u901a\u80c0<\/a>\u98d9\u5347\uff0c\u4fc3\u4f7f\u4e00\u4e9b\u5b98\u5458\u653e\u5f03\u5bbd\u677e\u653f\u7b56\u503e\u5411\uff0c\u6295\u8d44\u8005\u5bf9\u7f8e\u8054\u50a8\u5c06\u9700\u8981\u6536\u7d27\u653f\u7b56\u7684\u9884\u671f\u589e\u5f3a\u3002\u66fe\u591a\u6b21\u5411\u7f8e\u8054\u50a8\u65bd\u538b\u8981\u6c42<a href=\"https:\/\/www.alphaseek.cn\/?tag=%e9%99%8d%e6%81%af\" title=\"View all posts in \u964d\u606f\" target=\"_blank\" class=\"tag_link\">\u964d\u606f<\/a>\u7684<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>\u4e0a\u5468\u4e94\u8868\u793a\uff0c\u4ed6\u5e0c\u671b\u6c83\u4ec0\u72ec\u7acb\u9886\u5bfc\u7f8e\u8054\u50a8\u3002<\/p>\n<p>\u201c\u6570\u636e\u548c\u653f\u6cbb\u56e0\u7d20\u90fd\u8868\u660e\u964d\u606f\u538b\u529b\u51cf\u5c0f\uff0c\u77ed\u671f\u6536\u76ca\u7387\u4e5f\u5df2\u5728\u91cd\u65b0\u5b9a\u4ef7\u4e2d\u8d70\u9ad8\uff0c\u201d<span><a href=\"https:\/\/stock.finance.sina.com.cn\/usstock\/quotes\/NMR.html\" target=\"_blank\" data-sudaclick=\"content_marketkeywords_p\" rel=\"noopener\">\u91ce\u6751\u63a7\u80a1<\/a><\/span><span><\/span>\u9ad8\u7ea7<a href=\"https:\/\/www.alphaseek.cn\/?tag=%e7%ad%96%e7%95%a5\" title=\"View all posts in \u7b56\u7565\" target=\"_blank\" class=\"tag_link\">\u7b56\u7565<\/a>\u5e08Andrew Ticehurst\u8868\u793a\uff0c\u7279\u6717\u666e\u5173\u4e8e\u5e0c\u671b\u6c83\u4ec0\u201c\u72ec\u7acb\u884c\u4e8b\u201d\u7684\u8a00\u8bba\u4e5f\u8d77\u5230\u4e86\u5e2e\u52a9\u4f5c\u7528\u3002<\/p>\n<p>\u6536\u76ca\u7387\u66f2\u7ebf\u8d8b\u5e73\u4e4b\u9645\uff0c\u4ea4\u6613\u5458\u6b63\u4e89\u8bba\u901a\u80c0<a href=\"https:\/\/www.alphaseek.cn\/?tag=%e9%a3%8e%e9%99%a9\" title=\"View all posts in \u98ce\u9669\" target=\"_blank\" class=\"tag_link\">\u98ce\u9669<\/a>\u548c\u7ecf\u6d4e\u8870\u9000\u54ea\u4e00\u65b9\u6700\u7ec8\u5c06\u4e3b\u5bfc\u5168\u7403\u6700\u5927<a href=\"https:\/\/www.alphaseek.cn\/?tag=%e5%80%ba%e5%88%b8\" title=\"View all posts in \u503a\u5238\" target=\"_blank\" class=\"tag_link\">\u503a\u5238<\/a>\u5e02\u573a\u7684\u524d\u666f\u3002<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>\u56fd\u503a\u662f\u5168\u7403\u501f\u8d37\u6210\u672c\u7684\u57fa\u51c6\uff0c\u5176\u5f71\u54cd\u8303\u56f4\u6ce2\u53ca<a href=\"https:\/\/www.alphaseek.cn\/?tag=%e6%97%a5%e6%9c%ac\" title=\"View all posts in \u65e5\u672c\" target=\"_blank\" class=\"tag_link\">\u65e5\u672c<\/a>\u3001<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<a href=\"https:\/\/www.alphaseek.cn\/?tag=%e6%96%b0%e5%85%b4%e5%b8%82%e5%9c%ba\" title=\"View all posts in \u65b0\u5174\u5e02\u573a\" target=\"_blank\" class=\"tag_link\">\u65b0\u5174\u5e02\u573a<\/a>\u7b49\u8bf8\u591a\u503a\u5238\u5e02\u573a\u3002<\/p>\n<p>\u7f8e\u8054\u50a8\u7406\u4e8b\u514b\u91cc\u65af\u6258\u5f17\u00b7\u6c83\u52d2\u4e0a\u5468\u8868\u793a\uff0c<a href=\"https:\/\/www.alphaseek.cn\/?tag=%e5%a4%ae%e8%a1%8c\" title=\"View all posts in \u592e\u884c\" target=\"_blank\" class=\"tag_link\">\u592e\u884c<\/a>\u4e0b\u4e00\u6b65\u884c\u52a8\u73b0\u5728\u6765\u770b\u6709<a href=\"https:\/\/www.alphaseek.cn\/?tag=%e5%8a%a0%e6%81%af\" title=\"View all posts in \u52a0\u606f\" target=\"_blank\" class=\"tag_link\">\u52a0\u606f<\/a>\u7684\u53ef\u80fd\u3002\u4ed6\u6b64\u524d\u4e3b\u5f20\u964d\u606f\u6765\u4fdd\u62a4\u52b3\u52a8\u529b\u5e02\u573a\u3002<\/p>\n<p><a href=\"https:\/\/www.alphaseek.cn\/?tag=%e5%8d%8e%e5%b0%94%e8%a1%97\" title=\"View all posts in \u534e\u5c14\u8857\" target=\"_blank\" class=\"tag_link\">\u534e\u5c14\u8857<\/a>\u4e5f\u9884\u8ba1\u501f\u8d37\u6210\u672c\u5c06\u4f1a\u4e0a\u5347\u3002<span><a href=\"https:\/\/stock.finance.sina.com.cn\/usstock\/quotes\/JPM.html\" target=\"_blank\" data-sudaclick=\"content_marketkeywords_p\" rel=\"noopener\">\u6469\u6839\u5927\u901a<\/a><\/span><span><\/span>\u9996\u5e2d\u6267\u884c\u5b98\u6770\u7c73\u00b7\u6234\u8499\u8868\u793a\uff0c\u5229\u7387\u53ef\u80fd\u4f1a\u8fdb\u4e00\u6b65\u4e0a\u5347\u3002<span><a href=\"https:\/\/stock.finance.sina.com.cn\/usstock\/quotes\/ING.html\" target=\"_blank\" data-sudaclick=\"content_marketkeywords_p\" rel=\"noopener\">\u8377\u5170\u56fd\u9645<\/a><\/span><span><\/span>\u96c6\u56e2\u3001<span><a href=\"https:\/\/stock.finance.sina.com.cn\/usstock\/quotes\/GS.html\" target=\"_blank\" data-sudaclick=\"content_marketkeywords_p\" rel=\"noopener\">\u9ad8\u76db<\/a><\/span><span><\/span>\u96c6\u56e2\u548c\u5df4\u514b\u83b1\u94f6\u884c\u7684\u7b56\u7565\u5e08\u8ba4\u4e3a\uff0c\u5373\u4f7f\u6cb9\u4ef7\u4e0a\u6da8\u5f15\u53d1\u7684\u901a\u80c0\u6709\u6240\u7f13\u89e3\uff0c\u4e00\u4e9b\u957f\u671f\u6536\u76ca\u7387\u7684\u6da8\u52bf\u4e5f\u53ef\u80fd\u4e0d\u4f1a\u5b8c\u5168\u9006\u8f6c\uff0c\u8fd9\u4e3b\u8981\u662f\u53d7\u516c\u5171\u503a\u52a1\u89c4\u6a21\u5df2\u7ecf\u5f88\u9ad8\u3001\u4ee5\u53ca<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>\u6295\u8d44\u70ed\u6f6e\u5e26\u6765\u7684\u8d1f\u9762\u6548\u5e94\u7b49\u56e0\u7d20\u5f71\u54cd\u3002<\/p>\n<p>\u5468\u4e00\uff0c\u5e02\u573a\u5bf9\u7f8e\u4f0a\u8fbe\u6210\u534f\u8bae\u91cd\u5f00\u970d\u5c14\u6728\u5179\u6d77\u5ce1\u611f\u5230\u4e50\u89c2\uff0c\u53d7\u6b64\u5f71\u54cd\uff0c\u6cb9\u4ef7\u4e0b\u8dcc\u3002\u7279\u6717\u666e\u8868\u793a\uff0c\u8c08\u5224\u201c\u8fdb\u5c55\u987a\u5229\u201d\u3002<\/p>\n<p>Brandywine Global Investment Management\u6295\u8d44\u7ec4\u5408\u7ecf\u7406Tracy Chen\u8868\u793a\uff0c\u6240\u8c13\u7684\u201c\u503a\u5238\u536b\u58eb\u201d\u6b63\u5728\u8b66\u544a\u592e\u884c\uff0c\u5b83\u4eec\u7684\u884c\u52a8\u5df2\u7ecf\u843d\u540e\u4e8e\u5f62\u52bf\u3002<\/p>\n<p>\u201c\u5373\u4f7f\u6cb9\u4ef7\u6709\u6240\u56de\u843d\uff0c\u6211\u8ba4\u4e3a\u53d1\u8fbe\u5e02\u573a\u503a\u5238\u7684\u629b\u552e\u4e5f\u4e0d\u4f1a\u5c31\u6b64\u505c\u6b62\uff0c\u201dChen\u5468\u4e00\u5728\u63a5\u53d7\u91c7\u8bbf\u65f6\u8868\u793a\u3002<\/p>\n<p>\u5979\u4f30\u8ba1\uff0c\u53d7\u5bbd\u677e\u7684\u8d22\u653f\u653f\u7b56\u3001\u5de8\u989d\u56fd\u9632\u548c\u4eba\u5de5\u667a\u80fd\u57fa\u7840\u8bbe\u65bd\u652f\u51fa\u3001<a href=\"https:\/\/www.alphaseek.cn\/?tag=%e4%ba%ba%e5%8f%a3\" title=\"View all posts in \u4eba\u53e3\" target=\"_blank\" class=\"tag_link\">\u4eba\u53e3<\/a>\u8001\u9f84\u5316\u548c\u5730\u7f18\u653f\u6cbb\u52a8\u8361\u7b49\u7ed3\u6784\u6027\u56e0\u7d20\u7684\u5f71\u54cd\uff0c10\u5e74\u671f\u56fd\u503a\u6536\u76ca\u7387\u6700\u7ec8\u53ef\u80fd\u4f1a\u5347\u54115%\uff0c\u67d0\u4e9b\u671f\u9650\u7684\u56fd\u503a\u6536\u76ca\u7387\u751a\u81f3\u53ef\u80fd\u968f\u7740\u65f6\u95f4\u7684\u63a8\u79fb\u8fbe\u52305.5%\u81f36%\u3002<\/p>\n<p>\u8d23\u4efb\u7f16\u8f91\uff1a\u738b\u6c38\u751f <\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u4e00\u9879\u5173\u952e\u7684\u7f8e\u503a\u6536\u76ca\u7387\u5dee\u6307\u6807\u5df2\u6536\u7a84\u81f3\u4e00\u5e74\u6765\u7684\u6700\u4f4e\u6c34\u5e73\uff0c\u4ea4\u6613\u5458\u52a0\u5927\u62bc\u6ce8\u7f8e\u8054\u50a8\u53ef\u80fd\u5728\u65b0\u4e3b\u5e2d\u51ef\u6587\u00b7\u6c83\u4ec0\u7684\u9886\u5bfc\u4e0b\u5c06\u5229\u7387\u5728 [&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":[236,148,40,96,142,43,241,240,179,186,79,88,367,97,42,385,192,38],"views":8,"_links":{"self":[{"href":"https:\/\/www.alphaseek.cn\/index.php?rest_route=\/wp\/v2\/posts\/786511"}],"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=786511"}],"version-history":[{"count":0,"href":"https:\/\/www.alphaseek.cn\/index.php?rest_route=\/wp\/v2\/posts\/786511\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.alphaseek.cn\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=786511"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.alphaseek.cn\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=786511"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.alphaseek.cn\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=786511"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}