{"id":838366,"date":"2026-09-01T16:37:25","date_gmt":"2026-09-01T08:37:25","guid":{"rendered":"https:\/\/www.alphaseek.cn\/?p=838366"},"modified":"2026-09-01T16:37:25","modified_gmt":"2026-09-01T08:37:25","slug":"%e5%85%a8%e7%90%83%e5%80%ba%e5%b8%82%e6%8a%9b%e5%94%ae%e5%8a%a0%e5%89%a7%ef%bc%9a%e8%b5%a4%e5%ad%97%e3%80%81%e5%9c%b0%e7%bc%98%e6%94%bf%e6%b2%bb%e4%b8%8e%e5%8a%a0%e6%81%af%e9%a2%84%e6%9c%9f%e6%8e%a8","status":"publish","type":"post","link":"https:\/\/www.alphaseek.cn\/?p=838366","title":{"rendered":"\u5168\u7403\u503a\u5e02\u629b\u552e\u52a0\u5267\uff1a\u8d64\u5b57\u3001\u5730\u7f18\u653f\u6cbb\u4e0e\u52a0\u606f\u9884\u671f\u63a8\u5347\u957f\u7aef\u6536\u76ca\u7387"},"content":{"rendered":"<p>\u53d7\u4e3b\u8981\u7ecf\u6d4e\u4f53\u8d22\u653f\u8d64\u5b57\u6269\u5f20\u3001\u7f8e\u4f0a\u5c40\u52bf\u5f15\u53d1\u7684<a href=\"https:\/\/www.alphaseek.cn\/?tag=%e8%83%bd%e6%ba%90\" title=\"View all posts in \u80fd\u6e90\" target=\"_blank\" class=\"tag_link\">\u80fd\u6e90<\/a>\u4f9b\u5e94\u62c5\u5fe7\uff0c\u4ee5\u53ca\u4e3b\u8981<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>\u653f\u7b56\u9884\u671f\u8f6c\u5411\u9e70\u6d3e\u7684\u591a\u91cd\u5939\u51fb\uff0c\u5168\u7403<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\u6301\u7eed\u627f\u538b\uff0c\u6536\u76ca\u7387\u5168\u9762\u6500\u5347\uff0c\u5e76\u5f00\u59cb\u5bf9\u5168\u7403\u80a1\u5e02\u4f30\u503c\u6784\u6210\u538b\u5236\u3002<\/p>\n<p><strong>\u4e00\u3001 \u653f\u7b56\u5229\u7387\u9884\u671f\u91cd\u6784\u4e0e\u4e2d\u6027\u5229\u7387\u91cd\u4f30<\/strong><\/p>\n<p>First Eagle Investments <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>\u7ec4\u5408\u7ecf\u7406\u517c\u9ad8\u7ea7\u7814\u7a76\u5206\u6790\u5e08 Idanna Appio \u5728\u63a5\u53d7\u91c7\u8bbf\u65f6\u6307\u51fa\uff0c\u5e02\u573a\u6b63\u5728\u5168\u9762\u4e0a\u8c03\u5bf9<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>\u53ca\u5168\u7403\u77ed\u671f\u5229\u7387\u6c34\u5e73\u7684\u9884\u671f\uff0c\u6295\u8d44\u8005\u4e5f\u9010\u6b65\u8c03\u9ad8\u5bf9\u4e2d\u6027\u653f\u7b56\u5229\u7387\uff08R-star\uff09\u5408\u7406\u6c34\u5e73\u7684\u6d4b\u7b97\u3002<\/p>\n<p>\u53d7\u524d<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>\u7406\u4e8b\u51ef\u6587\u00b7\u6c83\u4ec0\uff08Kevin Warsh\uff09\u8fd1\u671f\u6f14\u8bf4\u7b49\u56e0\u7d20\u5f71\u54cd\uff0c\u5e02\u573a\u9884\u671f\u663e\u8457\u6536\u7d27\uff1a<\/p>\n<ul>\n<li>\n<p><strong>\u7f8e\u8054\u50a8<\/strong>\uff1a\u5df4\u514b\u83b1\u94f6\u884c\u4e0e<span><a href=\"https:\/\/stock.finance.sina.com.cn\/usstock\/quotes\/SCGLY.html\" target=\"_blank\" data-sudaclick=\"content_marketkeywords_p\" rel=\"noopener\">\u6cd5\u56fd\u5174\u4e1a<\/a><\/span><span><\/span>\u94f6\u884c\u7ecf\u6d4e\u5b66\u5bb6\u5747\u8c03\u6574\u4e86\u57fa\u51c6\u9884\u6d4b\uff0c\u9884\u8ba1\u7f8e\u8054\u50a8\u4eca\u5e74\u4ecd\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>\u53ef\u80fd\u3002<\/p>\n<\/li>\n<li>\n<p><strong><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>\u592e\u884c<\/strong>\uff1a\u9694\u591c\u6307\u6570\u4e92\u6362\uff08OIS\uff09\u663e\u793a\uff0c\u5e02\u573a\u9884\u8ba1\u65e5\u672c\u592e\u884c 9 \u6708\u52a0\u606f\u7684\u6982\u7387\u7ea6\u4e3a 92%\uff0c10 \u6708\u52a0\u606f\u9884\u671f\u5df2\u88ab\u5b8c\u5168\u6d88\u5316\u3002<\/p>\n<\/li>\n<li>\n<p><strong>\u6fb3\u6d32\u8054\u50a8<\/strong>\uff1a\u53d7\u5f3a\u4e8e\u9884\u671f\u7684<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>\u6570\u636e\u63a8\u52a8\uff0c\u4ea4\u6613\u5458\u52a0\u5927\u7d27\u7f29\u62bc\u6ce8\uff0c\u9884\u8ba1\u5e74\u5185\u53ef\u80fd\u8fce\u6765\u7b2c\u56db\u6b21\u52a0\u606f\u3002<\/p>\n<\/li>\n<\/ul>\n<p><strong>\u4e8c\u3001 \u8d64\u5b57\u6269\u5f20\u4e0e\u5730\u7f18<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>\u63a8\u9ad8\u957f\u671f\u671f\u9650\u6ea2\u4ef7<\/strong><\/p>\n<p>\u6570\u6708\u4ee5\u6765\uff0c\u5168\u7403\u4e3b\u8981\u7ecf\u6d4e\u4f53\u4e3b\u6743\u503a\u4f9b\u7ed9\u4e0e\u5730\u7f18\u98ce\u9669\u63a8\u5347\u4e86\u957f\u7aef\u503a\u5238\u7684\u671f\u9650\u6ea2\u4ef7\u8981\u6c42\uff1a<\/p>\n<ol>\n<li>\n<p><strong>\u4e3b\u6743\u503a\u52a1\u4e0e\u8d22\u653f\u8d64\u5b57\u538b\u529b<\/strong>\uff1a\u7f8e\u3001\u65e5\u3001\u82f1\u3001\u6cd5\u7b49\u56fd\u8d22\u653f\u8d64\u5b57\u5c45\u9ad8\u4e0d\u4e0b\uff0c\u52a0\u5267\u4e86\u957f\u503a\u4f9b\u7ed9\u6d88\u5316\u538b\u529b\u3002\u7f8e\u56fd 30 \u5e74\u671f\u56fd\u503a\u6536\u76ca\u7387\u5df2\u57fa\u672c\u56de\u5410\u8d1d\u68ee\u7279\uff08Scott Bessent\uff09\u4e0a\u6708\u5ba3\u5e03\u6269\u5927\u56fd\u503a<a href=\"https:\/\/www.alphaseek.cn\/?tag=%e5%9b%9e%e8%b4%ad\" title=\"View all posts in \u56de\u8d2d\" target=\"_blank\" class=\"tag_link\">\u56de\u8d2d<\/a>\u89c4\u6a21\u4ee5\u6765\u7684\u5168\u90e8\u964d\u5e45\u3002<\/p>\n<\/li>\n<li>\n<p><strong>\u4e2d\u4e1c\u5730\u7f18\u51b2\u7a81\u4e0e\u80fd\u6e90\u901a\u80c0<\/strong>\uff1a\u7f8e\u4f0a\u51b2\u7a81\u518d\u8d77\u4e14\u9884\u8ba1\u5c06\u6301\u7eed\u6570\u6708\uff0c\u5e02\u573a\u62c5\u5fe7\u970d\u5c14\u6728\u5179\u6d77\u5ce1\u80fd\u6e90\u8fd0\u8f93\u957f\u671f\u53d7\u963b\uff0c\u6cb9\u4ef7\u8d70\u9ad8\u8fdb\u4e00\u6b65\u52a0\u5267\u901a\u80c0\u9ecf\u6027\u3002<\/p>\n<\/li>\n<\/ol>\n<p><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>\u5e08 Mark Cranfield \u8bc4\u4ef7\u6307\u51fa\uff1a<\/p>\n<blockquote>\n<p>\u2018\u5341\u56fd\u96c6\u56e2\uff08G10\uff09\u56fa\u5b9a\u6536\u76ca\u4ea4\u6613\u5458\u6b63\u5728\u66f4\u5bc6\u5207\u5730\u8ffd\u8e2a<a href=\"https:\/\/www.alphaseek.cn\/?tag=%e6%97%a5%e6%9c%ac%e5%9b%bd%e5%80%ba\" title=\"View all posts in \u65e5\u672c\u56fd\u503a\" target=\"_blank\" class=\"tag_link\">\u65e5\u672c\u56fd\u503a<\/a>\u8d70\u52bf\uff1b\u5f53\u524d\u6fb3\u5927\u5229\u4e9a\u56fd\u503a\u7684\u8054\u52a8\u57fa\u51c6\u5df2\u66f4\u591a\u53c2\u8003\u65e5\u503a\uff0c\u800c\u975e\u4ec5\u76ef\u7f8e\u503a\u3002\u901a\u80c0\u5c45\u9ad8\u4e0d\u4e0b\u53e0\u52a0\u7f8e\u3001\u65e5\u3001\u82f1\u3001\u6cd5\u666e\u904d\u5e9e\u5927\u7684\u8d22\u653f\u8d64\u5b57\uff0c\u77ed\u671f\u5e02\u573a\u73af\u5883\u6781\u5176\u4e25\u5cfb\uff0c\u6fb3\u6d32 10 \u5e74\u671f\u56fd\u503a\u6536\u76ca\u7387\u5347\u81f3 2011 \u5e74\u4ee5\u6765\u7684\u6700\u9ad8\u6c34\u5e73\u5e76\u4e0d\u4ee4\u4eba\u610f\u5916\u3002\u2019<\/p>\n<\/blockquote>\n<p><strong>\u4e09\u3001 \u8de8\u8d44\u4ea7\u6ea2\u51fa\u6548\u5e94\u4e0e\u5b63\u8282\u6027\u9006\u98ce<\/strong><\/p>\n<p>\u5168\u7403\u957f\u7aef\u6536\u76ca\u7387\u7684\u98d9\u5347\u6b63\u5728\u8d44\u4ea7\u7c7b\u522b\u95f4\u4ea7\u751f\u8fde\u9501\u53cd\u5e94\uff1a<\/p>\n<ul>\n<li>\n<p><strong>\u5168\u7403\u503a\u5e02\u8868\u73b0\u627f\u538b<\/strong>\uff1a<a href=\"https:\/\/www.alphaseek.cn\/?tag=%e5%bd%ad%e5%8d%9a\" title=\"View all posts in \u5f6d\u535a\" target=\"_blank\" class=\"tag_link\">\u5f6d\u535a<\/a>\u5168\u7403\u503a\u5238\u6307\u6570\u4eca\u5e74\u8fc4\u4eca\u5df2\u4e0b\u8dcc 0.9%\uff082025 \u5e74\u5168\u5e74\u4e0a\u6da8 6.8%\uff09\u3002\u867d\u7136\u5468\u4e8c\u65e5\u672c 10 \u5e74\u671f\u56fd\u503a\u62db\u6807\u9700\u6c42\u7b26\u5408\u8fd1 12 \u4e2a\u6708\u5747\u503c\uff0c\u4f46\u6fb3\u6d32 10 \u5e74\u671f\u56fd\u503a\u6536\u76ca\u7387\u5df2\u5237\u65b0 2011 \u5e74\u4ee5\u6765\u9ad8\u70b9\u3002<\/p>\n<\/li>\n<li>\n<p><strong>\u4f30\u503c\u4f20\u5bfc\u4e0e\u80a1\u5e02\u56de\u8c03<\/strong>\uff1a\u503a\u5238\u6536\u76ca\u7387\u8d70\u9ad8\u6b63\u5728\u524a\u5f31\u80a1\u7968\u76f8\u5bf9\u4e8e\u65e0\u98ce\u9669\u8d44\u4ea7\u7684\u4f30\u503c\u4f18\u52bf\uff0c\u4f7f\u4ee5<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>\uff08AI\uff09\u4e3a\u6838\u5fc3\u4e3b\u7ebf\u7684\u5168\u7403\u80a1\u5e02\u53cd\u5f39\u627f\u538b\u3002MSCI \u5168\u7403\u6307\u6570\u81ea 8 \u6708\u4e2d\u65ec\u521b\u5386\u53f2\u65b0\u9ad8\u4ee5\u6765\u5df2\u7d2f\u8ba1\u56de\u8c03\u7ea6 1%\u3002<\/p>\n<\/li>\n<li>\n<p><strong>\u5386\u53f2\u5b63\u8282\u6027\u504f\u5f31<\/strong>\uff1a\u5f6d\u535a\u6c47\u7f16\u7684\u5386\u53f2\u6570\u636e\u663e\u793a\uff0c9 \u6708\u4e0e 10 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[&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":[148,40,96,49,43,131,241,179,351,88,367,97,29,42,192],"views":5,"_links":{"self":[{"href":"https:\/\/www.alphaseek.cn\/index.php?rest_route=\/wp\/v2\/posts\/838366"}],"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=838366"}],"version-history":[{"count":0,"href":"https:\/\/www.alphaseek.cn\/index.php?rest_route=\/wp\/v2\/posts\/838366\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.alphaseek.cn\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=838366"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.alphaseek.cn\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=838366"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.alphaseek.cn\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=838366"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}