{"id":804467,"date":"2026-06-24T23:17:05","date_gmt":"2026-06-24T15:17:05","guid":{"rendered":"https:\/\/www.alphaseek.cn\/?p=804467"},"modified":"2026-06-24T23:17:05","modified_gmt":"2026-06-24T15:17:05","slug":"%e8%b4%ac%e5%80%bc%e4%ba%a4%e6%98%93%e9%80%90%e6%ad%a5%e7%93%a6%e8%a7%a3-%e8%80%8c%e5%87%af%e6%96%87%c2%b7%e6%b2%83%e4%bb%80%e6%ad%a3%e6%98%af%e5%85%b3%e9%94%ae%e6%8e%a8%e6%89%8b","status":"publish","type":"post","link":"https:\/\/www.alphaseek.cn\/?p=804467","title":{"rendered":"\u201c\u8d2c\u503c\u4ea4\u6613\u201d\u9010\u6b65\u74e6\u89e3 \u800c\u51ef\u6587\u00b7\u6c83\u4ec0\u6b63\u662f\u5173\u952e\u63a8\u624b\u4e4b\u4e00"},"content":{"rendered":"<p>\u4e8b\u540e\u770b\u6765\uff0c\u8fd9\u573a\u201c<a href=\"https:\/\/www.alphaseek.cn\/?tag=%e8%b4%ac%e5%80%bc\" title=\"View all posts in \u8d2c\u503c\" target=\"_blank\" class=\"tag_link\">\u8d2c\u503c<\/a>\u4ea4\u6613\u201d\uff08debasement trade\uff09\u8d70\u5411\u7ec8\u7ed3\u7684\u8f6c\u6298\u70b9\u53ef\u4ee5\u8ffd\u6eaf\u52301\u670830\u65e5\u3002<\/p>\n<p>\u5f53\u5929\uff0c<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>\u603b\u7edf\u5510\u7eb3\u5fb7\u00b7<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>\u63d0\u540d\u51ef\u6587\u00b7\u6c83\u4ec0\u51fa\u4efb<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>\u4e3b\u5e2d\u3002\u8fd9\u4e00\u51b3\u5b9a\u4fc3\u4f7f<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\u91cd\u65b0\u8bc4\u4f30\u5f53\u65f6\u76db\u884c\u7684\u4e00\u79cd\u5b8f\u89c2\u4ea4\u6613\u903b\u8f91 \u2014\u2014 \u901a\u8fc7<a href=\"https:\/\/www.alphaseek.cn\/?tag=%e5%87%8f%e6%8c%81\" title=\"View all posts in \u51cf\u6301\" target=\"_blank\" class=\"tag_link\">\u51cf\u6301<\/a>\u7f8e\u5143\u3001\u8f6c\u800c\u914d\u7f6e\u5176\u4ed6\u8d44\u4ea7\u6765\u5bf9\u51b2\u7f8e\u5143\u8d2c\u503c<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>\u3002\u5f53\u5929\uff0c<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>\u4ece\u5386\u53f2\u9ad8\u70b9\u4e00\u5ea6\u4e0b\u8dcc13%\uff0c\u521b\u4e0b\u56db\u5341\u591a\u5e74\u6765\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\uff1b\u968f\u540e<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>\u4e5f\u5927\u5e45\u56de\u843d\u3002\u7ecf\u5386\u957f\u671f\u8d70\u5f31\u540e\uff0c\u7f8e\u5143\u5219\u9010\u6e10\u89e6\u5e95\u4f01\u7a33\u3002<\/p>\n<p>\u867d\u7136\u6c83\u4ec0\u56e0\u4e3b\u5f20\u964d\u4f4e\u5229\u7387\u800c\u83b7\u5f97\u7279\u6717\u666e\u9752\u7750\uff0c\u4f46\u8bb8\u591a\u6295\u8d44\u8005\u66f4\u770b\u91cd\u7684\u662f\u4ed6\u8fc7\u53bb\u201c\u9e70\u6d3e\u6297<a href=\"https:\/\/www.alphaseek.cn\/?tag=%e9%80%9a%e8%83%80\" title=\"View all posts in \u901a\u80c0\" target=\"_blank\" class=\"tag_link\">\u901a\u80c0<\/a>\u4eba\u58eb\u201d\u7684\u58f0\u8a89\u3002\u8fd9\u79cd\u80cc\u666f\u8ba9\u5e02\u573a\u5bf9\u5176\u672a\u6765\u653f\u7b56\u7acb\u573a\u4ea7\u751f\u7591\u95ee\uff0c\u4e5f\u4fc3\u4f7f\u90e8\u5206\u6295\u8d44\u8005\u5728\u5176\u83b7\u5f97\u63d0\u540d\u540e\u8c03\u6574\u4ed3\u4f4d\u3002<\/p>\n<p>\u4e0a\u5468\uff0c\u8fd9\u4e00\u8d8b\u52bf\u8fdb\u4e00\u6b65\u5f3a\u5316\u3002\u6c83\u4ec0\u5728\u51fa\u4efb\u7f8e\u8054\u50a8\u4e3b\u5e2d\u540e\u7684\u9996\u6b21<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>\u653f\u7b56\u4f1a\u8bae\u4e0a\u8868\u793a\uff0c\u7ef4\u62a4\u7269\u4ef7\u7a33\u5b9a\u5c06\u662f\u5176\u9996\u8981\u4efb\u52a1\u3002\u5bf9\u8bb8\u591a\u4ea4\u6613\u5458\u800c\u8a00\uff0c\u8fd9\u756a\u8868\u6001\u5728\u5f88\u5927\u7a0b\u5ea6\u4e0a\u7f13\u89e3\u4e86\u6b64\u524d\u7684\u62c5\u5fe7\uff0c\u5373\u4ed6\u662f\u5426\u4f1a\u5355\u7eaf\u8fce\u5408\u767d\u5bab\u63a8\u52a8<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\u504f\u597d\u3002\u56e0\u6b64\uff0c\u201c\u8d2c\u503c\u4ea4\u6613\u201d\u518d\u5ea6\u906d\u53d7\u6253\u51fb\u3002<\/p>\n<p>Fulcrum Asset Management\u8054\u5408\u521b\u59cb\u4eba\u517c\u8463\u4e8b\u957f\u3001\u524d<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>\u9996\u5e2d\u7ecf\u6d4e\u5b66\u5bb6Gavyn Davies\u8868\u793a\uff0c\u201c\u4efb\u4f55\u8ba4\u4e3a\u4ed6\u53ea\u662f\u88ab\u5b89\u6392\u8fdb\u53bb\u3001\u4e0d\u987e\u901a\u80c0\u4e00\u5473\u964d\u606f\u7684\u4eba\uff0c\u90fd\u4f1a\u5bf9\u51ef\u6587\u00b7\u6c83\u4ec0\u611f\u5230\u975e\u5e38\u3001\u975e\u5e38\u5931\u671b\u3002\u4ed6\u4e0d\u662f\u90a3\u6837\u7684\u7f8e\u8054\u50a8\u4e3b\u5e2d\u3002\u201d<\/p>\n<div><img src=\"https:\/\/finance.sina.com.cn\/\/n.sinaimg.cn\/finance\/transform\/220\/w550h470\/20260624\/261a-6ee76e936cfed3785903a1a91c6c8021.png\" alt=\"\u201c\u8d2c\u503c\u4ea4\u6613\u201d\u9010\u6b65\u74e6\u89e3 \u800c\u51ef\u6587\u00b7\u6c83\u4ec0\u6b63\u662f\u5173\u952e\u63a8\u624b\u4e4b\u4e00\" style=\" display:block; margin-left:auto; margin-right:auto; \"><span><\/span><\/div>\n<p>\u6240\u8c13\u201c\u8d2c\u503c\u4ea4\u6613\u201d\uff0c\u5e7f\u4e49\u4e0a\u662f\u6307\u505a\u591a\u9ec4\u91d1\u3001\u6bd4\u7279\u5e01\u7b49\u8d44\u4ea7\uff0c\u540c\u65f6\u56de\u907f\u7f8e\u5143\u7b49\u53ef\u80fd\u56e0\u901a\u80c0\u3001\u8d22\u653f\u7b49\u56e0\u7d20\u800c\u9762\u4e34\u8d2c\u503c\u98ce\u9669\u7684\u8d27\u5e01\u3002\u8fd9\u4e00\u4ea4\u6613\u903b\u8f91\u4e00\u76f4\u662f\u8fc7\u53bb\u4e24\u5e74\u5168\u7403\u5e02\u573a\u6700\u91cd\u8981\u7684\u53d9\u4e8b\u4e4b\u4e00\u3002\u5728\u7f8e\u56fd\uff0c\u653f\u5e9c\u503a\u52a1\u6fc0\u589e\u4ee5\u53ca\u901a\u80c0\u8fde\u7eed\u4e94\u5e74\u591a\u9ad8\u4e8e\u76ee\u6807\u6c34\u5e73\uff0c\u5f15\u53d1\u4e86\u5e02\u573a\u5bf9\u7f8e\u5143\u8d2d\u4e70\u529b\u6301\u7eed\u4e0b\u964d\u7684\u62c5\u5fe7\u3002<\/p>\n<p>TwentyFour Asset Management\u6295\u8d44\u7ec4\u5408\u7ecf\u7406Jonathan Owen\u8868\u793a\uff0c\u201c\u6295\u8d44\u8005\u771f\u6b63\u62c5\u5fc3\u7684\u662f\u901a\u80c0\u76ee\u6807\u3001\u7f8e\u8054\u50a8\u7684\u4fe1\u8a89\u4ee5\u53ca\u5176\u72ec\u7acb\u6027\u3002\u6211\u8ba4\u4e3a\u8fd9\u4e9b\u62c5\u5fe7\u5982\u4eca\u5df2\u57fa\u672c\u6d88\u6563\u3002\u201d<\/p>\n<p>\u76ee\u524d\uff0c\u4ea4\u6613\u5458\u5df2\u5b8c\u5168\u6d88\u5316\u7f8e\u8054\u50a8\u52302027\u5e74\u7b2c\u4e00\u5b63\u5ea6\u672b\u7d2f\u8ba1<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>\u4e24\u6b21\u7684\u9884\u671f\uff0c\u800c\u5728\u4e0a\u5468\u8bae\u606f\u4f1a\u8bae\u4e4b\u524d\uff0c\u5e02\u573a\u9884\u671f\u4ec5\u4e3a\u52a0\u606f\u4e00\u6b21\u3002\u5e02\u573a\u751a\u81f3\u8ba4\u4e3a\uff0c\u9996\u6b21\u52a0\u606f\u6700\u5feb\u53ef\u80fd\u57287\u6708\u7684\u4e0b\u4e00\u6b21\u4f1a\u8bae\u4e0a\u5230\u6765\u3002\u6c83\u4ec0\u91ca\u653e\u7684\u653f\u7b56\u4fe1\u53f7\u8fd8\u8fdb\u4e00\u6b65\u63a8\u52a8\u7f8e\u5143\u53cd\u5f39\uff0c\u5e76\u63d0\u632f\u4e86\u5bf9\u901a\u80c0\u66f4\u4e3a\u654f\u611f\u7684\u957f\u671f\u7f8e\u56fd\u56fd\u503a\uff1b\u4e0e\u6b64\u540c\u65f6\uff0c\u9ec4\u91d1\u548c<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>\u5219\u627f\u53d7\u538b\u529b\u3002<\/p>\n<p>\u8d23\u4efb\u7f16\u8f91\uff1a\u4e01\u6587\u6b66 <\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u4e8b\u540e\u770b\u6765\uff0c\u8fd9\u573a\u201c\u8d2c\u503c\u4ea4\u6613\u201d\uff08debasement trade\uff09\u8d70\u5411\u7ec8\u7ed3\u7684\u8f6c\u6298\u70b9\u53ef\u4ee5\u8ffd\u6eaf\u52301\u670830\u65e5\u3002 \u5f53\u5929\uff0c\u7f8e [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[4],"tags":[245,353,96,308,241,22,79,367,97,34,352,42,385,192,38,51],"views":5,"_links":{"self":[{"href":"https:\/\/www.alphaseek.cn\/index.php?rest_route=\/wp\/v2\/posts\/804467"}],"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=804467"}],"version-history":[{"count":0,"href":"https:\/\/www.alphaseek.cn\/index.php?rest_route=\/wp\/v2\/posts\/804467\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.alphaseek.cn\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=804467"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.alphaseek.cn\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=804467"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.alphaseek.cn\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=804467"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}