{"id":3471,"date":"2019-03-01T02:29:02","date_gmt":"2019-02-28T18:29:02","guid":{"rendered":"https:\/\/www.mpfdiy.com\/?p=3471"},"modified":"2019-03-01T15:55:16","modified_gmt":"2019-03-01T07:55:16","slug":"%e5%bc%b7%e7%a9%8d%e9%87%91%e7%ad%96%e7%95%a5%e4%ba%a4%e6%b5%8118-%e6%9c%80%e4%bd%b3%e7%9a%84%e6%aa%a2%e8%a8%8e%e6%97%a5%e5%ad%90","status":"publish","type":"post","link":"https:\/\/www.mpfdiy.com\/2019\/03\/%e5%bc%b7%e7%a9%8d%e9%87%91%e7%ad%96%e7%95%a5%e4%ba%a4%e6%b5%8118-%e6%9c%80%e4%bd%b3%e7%9a%84%e6%aa%a2%e8%a8%8e%e6%97%a5%e5%ad%90\/","title":{"rendered":"\u5f37\u7a4d\u91d1\u7b56\u7565\u4ea4\u6d41#18 – \u6700\u4f73\u7684\u6aa2\u8a0e\u65e5\u5b50"},"content":{"rendered":"

\u5f37\u7a4d\u91d1\u7b56\u7565\u4ea4\u6d41#18 – \u6700\u4f73\u7684\u6aa2\u8a0e\u65e5\u5b50<\/span><\/strong><\/span><\/h2>\n

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\u300a\u7a4d\u91d1\u5927\u53cd\u64ca\u300b\u5167\u76847\u62db\uff0c\u8207\u53ca\u672c\u7ad9<\/a>\u6240\u63d0\u53ca\u7684\u53e6\u59163\u62db\uff0c\u5927\u591a\u9700\u8981\u5b9a\u671f\uff08\u7d04\u4e00\u500b\u6708\uff09\u53d6\u5f97\u57fa\u91d1\u50f9\u683c\u518d\u9032\u884c\u6aa2\u8a0e\u3002\u300a\u7a4d\u91d1\u5927\u53cd\u64ca\u300b\u53ca\u672c\u7ad9\u7684\u6bcf\u6708\u56de\u5831\u90fd\u4f7f\u7528\u6bcf\u6708\u982d\u4e00\u500b\u57fa\u91d1\u50f9\u683c\u65e5<\/span>\u9032\u884c\u6aa2\u8a0e\uff0c\u90a3\u9ebc\uff0c\u4e0d\u540c\u7684\u6aa2\u8a0e\u65e5\u5b50\u6703\u5426\u51fa\u73fe\u4e0d\u540c\u7684\u56de\u5831\u53ca\u6ce2\u5e45\uff1f<\/span><\/p>\n

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\u7b54\u6848\u662f\u6703\u7684\u3002<\/span><\/strong><\/p>\n

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\u4ee5BCT\u7684\u7a4d\u91d1\u4e4b\u9078\u70ba\u4f8b\uff0c\u7528\u6bcf\u6708\u982d\u4e00\u500b\u57fa\u91d1\u50f9\u683c\u65e5\u8a08\u7b97\uff0c\u75312001\u5e74\u81f32018\u5e74\u79fb\u52d5\u5e73\u5747\u7b56\u7565\uff086\u500b\u6708\u9593\u8ddd\uff09\u7684\u56de\u5831\u53ca\u6ce2\u5e45\u70ba8.28%\u53ca3.36%\uff0c\u52d5\u529b\u6295\u8cc7\u7b56\u7565\uff086\u500b\u6708\u9593\u8ddd\uff09\u7684\u70ba7.10%\u53ca3.87%\u3002\u5982\u679c\u7528\u5176\u4ed6\u50f9\u683c\u65e5\uff0c\u4f8b\u5982\u4e00\u5206\u70ba\u4e8c\u768416\u865f\uff0c\u4e00\u5206\u70ba\u4e09\u768411\u865f\u53ca21\u865f\uff0c\u56de\u5831\u53ca\u6ce2\u5e45\u7d50\u679c\u5982\u4e0b\uff1a<\/span><\/p>\n

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 <\/p>\n\n\n\n\n\n\n\n
\u56de\u5831\u53ca\u6ce2\u5e45<\/span><\/strong><\/td>\n\u79fb\u52d5\u5e73\u5747\u7b56\u7565<\/span><\/strong><\/td>\n\u52d5\u529b\u6295\u8cc7\u7b56\u7565<\/span><\/strong><\/td>\n<\/tr>\n
\u6bcf\u67081\u865f<\/span><\/td>\n8.28%\/3.36%<\/span><\/td>\n7.10%\/3.87%<\/span><\/td>\n<\/tr>\n
\u6bcf\u670811\u865f<\/span><\/td>\n8.14%\/3.50%<\/span><\/td>\n8.19%\/4.02%<\/span><\/td>\n<\/tr>\n
\u6bcf\u670816\u865f<\/span><\/td>\n8.50%\/3.82%<\/span><\/td>\n6.13%\/4.09%<\/span><\/td>\n<\/tr>\n
\u6bcf\u670821\u865f<\/span><\/td>\n6.19%\/3.94%<\/span><\/td>\n6.26%\/4.24%<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

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 <\/p>\n

\u53ef\u898b\u79fb\u52d5\u5e73\u5747\u7b56\u7565\u5c0d\u50f9\u683c\u65e5\u7684\u654f\u611f\u5ea6\u8f03\u4f4e\uff0c\u800c\u52d5\u529b\u6295\u8cc7\u7b56\u7565\u5c0d\u50f9\u683c\u65e5\u7684\u654f\u611f\u5ea6\u8f03\u9ad8\u3002<\/span><\/p>\n

 <\/p>\n

\u4e0a\u8868\u53ea\u662f\u79fb\u52d5\u5e73\u5747\u7b56\u7565\u53ca\u52d5\u529b\u6295\u8cc7\u7b56\u7565\u65bcBCT\u7684\u7a4d\u91d1\u4e4b\u9078\u7684\u60c5\u6cc1\uff0c\u4e0d\u540c\u7b56\u7565\u3001\u4e0d\u540c\u9593\u8ddd\u65bc\u4e0d\u540c\u8a08\u5283\u7684\u8868\u73fe\u5404\u6709\u4e0d\u540c\uff0c\u4f46\u5927\u9ad4\u4e0a\u7528\u6bcf\u6708\u982d\u4e00\u500b\u57fa\u91d1\u50f9\u683c\u65e5\u8a08\u7b97\u7684\u7d50\u679c\u8f03\u597d\u3002<\/span><\/p>\n

 <\/p>\n

\u5916\u570b\u7db2\u7ad9\u5c0d\u6b64\u73fe\u8c61\u65e9\u5df2\u6709\u7814\u7a76\uff08\u898b 1<\/a>\u00a0 2<\/a>\uff09\uff0c\u7d50\u679c\u90fd\u662f\u6708\u982d\u6708\u5c3e\u8f03\u597d\u3002\u4f46\u7531\u65bc\u300c\u904e\u5f80\u8868\u73fe\u4e0d\u4ee3\u8868\u5c07\u4f86\u300d\uff0c\u4ee5\u5f80\u7684\u597d\u904b\u6216\u50f9\u683c\u6a21\u5f0f\u672a\u5fc5\u65bc\u5c07\u4f86\u9069\u7528\uff0c\u5c07\u4f86\u4f7f\u7528\u6708\u982d\u6708\u5c3e\u7684\u50f9\u683c\u672a\u5fc5\u4e00\u5b9a\u8f03\u597d\uff0c\u6240\u4ee5\u8981\u6709\u5c0d\u61c9\u6b64\u300c\u50f9\u683c\u65e5\u98a8\u96aa\u300d\uff08timing risk\uff09\u7684\u65b9\u6cd5\u3002<\/span><\/p>\n

 <\/p>\n

 <\/p>\n

\"<\/a><\/p>\n

https:\/\/alphaarchitect.com\/2017\/06\/29\/tactical-asset-allocation-day-month-matter\/<\/p>\n

 <\/p>\n

 <\/p>\n

 <\/p>\n

\u6e1b\u4f4e\u98a8\u96aa\u7684\u65b9\u6cd5\u4e0d\u5916\u4e4e\u662f\u5206\u6563\uff08diversify\uff09\uff0c\u300a\u7a4d\u91d1\u5927\u53cd\u64ca\u300b\u7684\u7b2c1\u62db\u5927\u5305\u570d\u7b56\u7565<\/a>\u662f\u9762\u5c0d\u672a\u77e5\u98a8\u96aa\u7684\u8f03\u4f73\u61c9\u5c0d\u65b9\u6cd5\u3002\u5c07\u5f37\u7a4d\u91d1\u8cc7\u7522\u5206\u4f5c\u591a\u4efd\uff0c\u6bcf\u4efd\u7528\u4e0d\u540c\u50f9\u683c\u65e5<\/span>\u9032\u884c\u6aa2\u8a0e\uff0c\u4fbf\u53ef\u4ee5\u6e1b\u4f4e\u300c\u50f9\u683c\u65e5\u98a8\u96aa\u300d\uff0c\u9019\u505a\u6cd5\u5176\u5be6\u8207\u771f\u6b63\u7684\u5e73\u5747\u6210\u672c\u6cd5<\/a>\u76f8\u4f3c\uff0c\u6709\u4eba\u5c07\u5b83\u53eb\u505aportfolio tranching<\/a>\u3002<\/span><\/p>\n

 <\/p>\n

\u9664\u4e86\u6253\u6563\u65e5\u5b50\uff0c\u4ea6\u53ef\u6253\u6563\u6708\u4efd\uff0c\u4ee5\u5f80\u5e74\u5ea6\u7b56\u7565\u6aa2\u8a0e<\/a>\u63d0\u53ca\u4e86\u53ef\u540c\u6642\u4f7f\u7528\u4e0d\u540c\u6708\u4efd\u9593\u8ddd<\/span>\uff0c\u662f\u6253\u6563\u6708\u4efd\u7684\u4f8b\u5b50\u3002<\/span><\/p>\n

 <\/p>\n

\u53e6\u5916\u4ea6\u53ef\u4ee5\u5206\u6563\u7b56\u7565\uff0c50\/50\u662f\u5206\u6563\u5169\u500b\u7b56\u7565<\/span>\uff0c\u7576\u7136\u52a0\u5165\u7b2c8\u30019\u300110\u62db\u53c8\u66f4\u52a0\u5206\u6563\u3002<\/span><\/p>\n

 <\/p>\n

\u6700\u5f8c\u300a\u7a4d\u91d1\u5927\u53cd\u64ca\u300b\u5167\u63d0\u53ca\u75282\u30013\u500b\u8a08\u5283<\/span>\uff0c\u662f\u9032\u4e00\u6b65\u6253\u6563\u98a8\u96aa\u7684\u505a\u6cd5\u3002<\/span><\/p>\n

 <\/p>\n

Portfolio management \u5982\u679c\u505a\u5230\u4e0a\u8ff0\u90a3\u9ebc\u9032\u968e\uff0c\u5df2\u975e\u4e00\u822c\u6253\u5de5\u4ed4\u6240\u80fd\u64cd\u4f5c\u3002\u4f5c\u70ba\u5de5\u9918DIY\u7684\u624b\u4f5c\u4ed4\uff0c\u5f37\u7a4d\u91d1\u75282\u30013\u500b\u8a08\u5283\u300150\/50\u3001\u4e00\u5169\u500b\u6708\u4efd\u9593\u8ddd\u3001\u4e00\u500b\u6708\u982d\u4e00\u65e5\u50f9\u683c\u5df2\u7d93\u5920\u7528\u3002\u597d\u50cf\u4e00\u822c\u99d5\u99db\u4eba\u58eb\u8003\u7372\u79c1\u5bb6\u8eca\u81ea\u52d5\u6ce2\u5df2\u7d93\u8db3\u5920\uff0c\u800c\u9032\u968e\u72c2\u71b1\u4eba\u58eb\u8003\u7372\u8239\u724c\u3001\u98db\u6a5f\u724c\u3001\u6f5b\u6c34\u724c\u53ef\u4ee5\u9032\u4e00\u6b65\u4e0a\u5929\u4e0b\u6d77\u3002<\/span><\/p>\n

 <\/p>\n

\u4e00\u6a23\u7c73\u990a\u767e\u6a23\u4eba\uff0c\u5927\u5bb6\u6309\u80fd\u529b\u6309\u559c\u597d\u5404\u53d6\u6240\u9700\u3002<\/span><\/p>\n

 <\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

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