{"id":4003,"date":"2019-10-27T23:33:13","date_gmt":"2019-10-27T15:33:13","guid":{"rendered":"https:\/\/www.mpfdiy.com\/?p=4003"},"modified":"2022-11-14T01:54:55","modified_gmt":"2022-11-13T17:54:55","slug":"%e5%8f%a6%e9%a1%9e%e6%8a%95%e8%b3%871-%e7%b4%85%e9%85%92","status":"publish","type":"post","link":"https:\/\/www.mpfdiy.com\/2019\/10\/%e5%8f%a6%e9%a1%9e%e6%8a%95%e8%b3%871-%e7%b4%85%e9%85%92\/","title":{"rendered":"\u53e6\u985e\u6295\u8cc7#1-\u7d05\u9152"},"content":{"rendered":"

\u53e6\u985e\u6295\u8cc7#1-\u7d05\u9152<\/strong><\/span><\/h2>\n

 <\/p>\n

\u6295\u8cc7\u7269\u7684\u7a2e\u985e\u4e94\u82b1\u767e\u9580\uff0c\u7531\u9ec3\u91d1\u80a1\u7968\u5230\u6ce2\u978b\u9583\u5361\u90fd\u53ef\u4ee5\u88ab\u8996\u70ba\u6295\u8cc7\u7269\u3002\u5e7e\u5341\u5e74\u524d\u7684\u6295\u8cc7\u754c\uff0c\u6703\u8996\u50b5\u5238\u53ca\u5b58\u6b3e\u70ba\u300c\u6295\u8cc7\u300d<\/span>\uff0c\u800c\u80a1\u7968\u53ca\u5546\u54c1\u662f\u300c\u6295\u6a5f\u300d<\/span>\uff1b\u4f46\u5230\u4e862019\u5e74\uff0c\u53ef\u80fd\u662fbitcoin<\/a>\u53ca\u5b56\u5c55<\/a>\u624d\u88ab\u8996\u70ba\u6295\u6a5f\u3002<\/span><\/p>\n

 <\/p>\n

\u4eca\u6642\u4eca\u65e5\uff0c\u88ab\u8996\u70ba\u4e3b\u6d41\u6295\u8cc7\u7269<\/span>\u7684\uff0c\u5927\u6982\u662f\u80a1\u7968\u50b5\u5238\u5916\u532f\u9ec3\u91d1<\/span>\u7b49\u53d7\u5927\u773e\u8a8d\u77e5\u800c\u6709\u76e3\u7ba1\u6a5f\u69cb\u63a7\u5236\u7684\u5e02\u5834\uff1b\u4f46\u975e\u4e3b\u6d41\u7684\u53e6\u985e\u6295\u8cc7<\/span>\uff08alternative investment\uff09\u5247\u66f4\u6108\u4f86\u6108\u5ee3\u6cdb\u3002\u6309CAIA\uff08\u7279\u8a31\u53e6\u985e\u6295\u8cc7\u5206\u6790\u5e2b\u5354\u6703\uff09\u7684\u5206\u985e\uff0c\u53e6\u985e\u6295\u8cc7<\/span>\u53ef\u5206\u70baexclusive\u53cainclusive\uff0c\u7576\u4e2dinclusive\u7684\u6db5\u84cb\uff1a<\/span><\/p>\n

 <\/p>\n

1. Real assets (including natural resources, commodities, real estate, infrastructure, and intellectual property) \u5be6\u7269<\/span><\/strong><\/p>\n

2. Hedge funds (including managed futures) \u5c0d\u6c96\u57fa\u91d1<\/span><\/strong><\/p>\n

3. Private equity (including mezzanine and distressed debt) \u79c1\u52df\u57fa\u91d1<\/span><\/strong><\/p>\n

4. Structured products (including credit derivatives) \u7d50\u69cb\u6027\u7522\u54c1<\/span><\/strong><\/p>\n

 <\/p>\n

\u4e0a\u8ff0\u56db\u7a2e\u53e6\u985e\u6295\u8cc7\u4e4b\u4e2d\uff0c\u9999\u6e2f\u4eba\u5df2\u7d93\u628areal estate \u623f\u5730\u7522\u7576\u6210\u4e3b\u6d41\u6295\u8cc7\u30022019\u5e74\u9999\u6e2f\u653f\u5e9c\u7684\u65bd\u653f\u5831\u544a\uff0c\u7279\u610f\u628a\u623f\u5730\u7522\u53ef\u501f\u8cb8\u6bd4\u7387\u63d0\u9ad8\uff0c\u4ee5\u5438\u5f15\u666e\u901a\u5e02\u6c11\u7f6e\u696d\uff0c\u4f5c\u70ba\u671f\u671b\u5c07\u70cf\u96f2\u8b8a\u56de\u85cd\u5929\u7684\u624b\u6bb5\u3002<\/span><\/p>\n

 <\/p>\n

\u574a\u9593\u5c31\u5be6\u7269\u7684\u53e6\u985e\u6295\u8cc7\u6975\u5176\u7e41\u591a\uff0c\u4f8b\u5982\u540d\u9336\u3001\u90f5\u7968\u3001\u9322\u5e63\u3001\u6ce2\u886b\u3001\u73a9\u5177\u3001\u85dd\u8853\u54c1<\/span>\u7b49\u7b49\uff0c\u7576\u4e2d\u6bd4\u8f03\u8de8\u6642\u9593\u3001\u8de8\u5730\u57df\u3001\u6d41\u901a\u91cf\u9ad8\u3001\u91d1\u984d\u5927\u7684\uff0c\u7d05\u9152<\/span><\/strong>\u61c9\u4f54\u4e00\u4e3b\u6d41\u3002<\/span><\/p>\n

 <\/p>\n

\u7d05\u9152\u7684\u6295\u8cc7\u4ee5\u820a\u4e16\u754c\u6cd5\u570b\u6240\u51fa\u7522\u7684\u7d05\u767d\u9152(\u4e00\u6982\u7c21\u7a31\u7d05\u9152) \u70ba\u4e3b\uff0c\u85cd\u7c4c\u9152\u838a\u5982Lafite\u7d30\u7d30\u500b\u7747\u6232\u6642\u5df2\u7d93\u807d\u904e\u4f62\u500b\u540d\u3002\u5177\u6295\u8cc7\u50f9\u503c\u7684\u7d05\u9152\u6709\u4e00\u9805\u7279\u5225\u7684\u6027\u8cea\uff0c\u5c31\u662f\u6108\u820a\u6108\u8cb4\u3002\u85cd\u7c4c\u9152\u838a\u7684\u7d05\u9152\u9700\u8981\u7d93\u904e\u9673\u5e7410\u5e74\u4ee5\u4e0a\u624d\u88ab\u8996\u70ba\u9069\u5408\u98f2\u7528\uff0c\u52a0\u4e0a\u6bcf\u5e74\u53ea\u51fa\u7522\u4e00\u6b21\uff0c\u800c\u5e74\u4efd\u5167\u7684\u967d\u5149\u96e8\u6c34\u53ca\u751f\u614b\u74b0\u5883\u53c8\u5c0d\u8461\u8404\u8cea\u7d20\u5f71\u97ff\u5f88\u5927\uff0c\u800c\u4e14\u7d05\u9152\u98f2\u4e00\u652f\u5c11\u4e00\u652f\uff0c\u7269\u4ee5\u7f55\u70ba\u8cb4\uff0c\u5c0e\u81f4\u7d05\u9152\u6709\u8de8\u6642\u9593\u589e\u503c\u7684\u7279\u6027\u3002<\/span><\/p>\n

 <\/p>\n

\u7d05\u9152\u9664\u4e86\u6295\u8cc7\u50f9\u503c\u4e4b\u5916\uff0c\u66f4\u6709\u5176\u5be6\u7528\u529f\u80fd\uff0c\u5c31\u662f\u98f2\u7528\u53ca\u9001\u79ae\u3002\u7d05\u9152\u6295\u8cc7\u6578\u91cf\u91d1\u984d\u8c50\u5109\u7531\u4eba\uff0c\u53ef\u4ee5\u5f9e\u4ee5\u7bb1\u8a08\u53c8\u53ef\u4ee5\u4ee5\u652f\u8a08\uff0c\u653e\u65bc\u96e2\u5cb8\u9152\u7a96\u53c8\u5f97\uff0c\u653e\u65bc\u5bb6\u4e2d\u7761\u623f\u4ea6\u53ef\uff0c\u8ca8\u5b58\u6d41\u52d5\u6027\u53ca\u8cb7\u8ce3\u6d41\u901a\u6027\u90fd\u975e\u5e38\u9ad8\u3002<\/span><\/p>\n

 <\/p>\n

 <\/p>\n

\"<\/a>
(Left to right) Chateau Latour 1982, Chateau Petrus, 1988, ChateauLafite-Rothschild, 1996, Chateau Mouton-Rothschild, 1982,\u00a0 Chateau Margaux, 1985, Chateau Haut-Brion, 1990<\/figcaption><\/figure>\n

 <\/p>\n

 <\/p>\n

 <\/p>\n

\u7d05\u9152\u754c\u6700\u51fa\u540d\u7684\u6307\u6578\u662fLiv-ex<\/a>\u65d7\u4e0b\u7684\u6307\u6578\uff0c\u50cf\u6052\u6307\u4e00\u6a23\u90fd\u6709\u4e0d\u540c\u7684\u7d44\u6210\u53ca\u5206\u985e\u3002\u9999\u6e2f\u5728\u8fd1\u5341\u5e74\u65bc\u4e16\u754c\u9152\u58c7\u4e0a\u8b8a\u5f97\u8209\u8db3\u8f15\u91cd\uff0c\u53ef\u8207\u502b\u6566\u6bd4\u7f8e\uff0c\u4e3b\u8981\u56e0\u70ba\u514d\u7a05\u53ca\u6771\u4e9e\u5730\u5340\u7d05\u9152\u5e02\u5834\u7684\u8fc5\u901f\u767c\u5c55\u3002<\/span><\/p>\n

 <\/p>\n

\u73fe\u6642\u6295\u8cc7\u7d05\u9152\u4ecd\u662f\u8981\u6295\u8cc7\u5be6\u7269\uff0c\u7576\u4e2d\u7684\u5132\u5b58\u8cbb\u53ca\u4ea4\u6613\u8cbb\u8f03\u9ad8\u3002\u4f46\u8e0f\u5165\u4e92\u806f\u7db2\u6642\u4ee3\uff0c\u900f\u660e\u53ca\u5373\u6642\u7684\u8cc7\u8a0a\uff0c\u4ee4\u5e73\u6c11\u767e\u59d3\u8cfc\u8cb7\u7d05\u9152\u50cf\u6dd8\u5bf6\u53caAmazon\u822c\u65b9\u4fbf\uff0c\u5982www.wine-searcher.com\u3002<\/a><\/span><\/p>\n

 <\/p>\n

 <\/p>\n

\u7d05\u9152\u6295\u8cc7\u50f9\u503c\u5982\u4f55\uff1f<\/span><\/strong><\/p>\n

 <\/p>\n

\u5927\u5bb6\u4f5c\u70baMPFDIY.com\u7684\u8b80\u8005\uff0c\u4e00\u5b9a\u77e5\u9053\u8a55\u50f9\u6295\u8cc7\u7269\u9996\u5148\u4e00\u5b9a\u770b\u770b\u56de\u5831\u53ca\u6ce2\u5e45<\/strong><\/span>\uff0c\u7d05\u9152\u7684\u56de\u5831\u53ca\u6ce2\u5e45\u53ef\u4ee5\u898b\u4e0b\u8868<\/span>\uff1a<\/span><\/p>\n

 <\/p>\n

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

\u53d6\u81ea\u528d\u6a4b\u5927\u5b78\u5b78\u8005\u7684\u7814\u7a76\u6587\u7ae0“The Price of Wine”<\/a><\/span><\/p>\n

 <\/p>\n

 <\/p>\n

\u53ef\u898b\u7d05\u9152\u7684\u56de\u5831\u53ca\u6ce2\u5e45\u81ea1900\u5e74\u81f32012\u5e74\u9593\uff0c\u5e74\u5747\u56de\u5831\u67098%\u4ee5\u4e0a\uff0c\u6309\u5e74\u6ce2\u5e45\u662f27%(\u6309\u6708\u6ce2\u5e45\u662f7.8%)\uff0c\u5c6c\u9ad8\u98a8\u96aa\u9ad8\u56de\u5831\u6295\u8cc7\u7269\uff0c\u9577\u6642\u9593\u4e0b\u8207\u80a1\u7968\u4e0d\u9051\u591a\u8b93\uff0c\u56de\u5831\u4ea6\u9ad8\u65bc\u85dd\u8853\u54c1\u53ca\u90f5\u7968\u3002<\/span><\/p>\n

 <\/p>\n

\u5728\u6574\u9ad4\u8cc7\u7522\u4e2d\u653e\u5165\u53e6\u985e\u6295\u8cc7\uff0c\u4e3b\u8981\u5e0c\u671b\u5728\u5206\u6563\u6295\u8cc7\u4e0b\u53ef\u4ee5\u964d\u4f4e\u6ce2\u5e45<\/span>\uff0c\u898b\u4e0b\u8868\uff1a<\/span><\/p>\n

 <\/p>\n

 <\/p>\n

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

\u53d6\u81ea“The Risk-Return Characteristics and Diversification Benefits of Fine Wine Investment”<\/a><\/span><\/p>\n

 <\/p>\n

 <\/p>\n

\u4e0a\u8868\u6307\u51fa\u7d05\u9152\u8207\u7f8e\u80a1\u3001\u65b0\u8208\u5e02\u5834\u80a1\u7968\u3001\u74b0\u7403\u80a1\u7968\u3001\u5b9a\u606f\u7522\u54c1\u3001\u5546\u54c1\u53ca\u623f\u5730\u7522\u7b49\u7684\u5e38\u898b\u6295\u8cc7\u7269\u7684\u95dc\u806f\u7cfb\u6578\uff08correlation\uff09\u63a5\u8fd10<\/span>\uff0c\u5373\u662f\u6c92\u6709\u95dc\u806f\uff08\u53e6\u898b\u300a\u7a4d\u91d1\u5927\u53cd\u64ca\u300b\u7b2c35\u9801\uff09\u3002\u6240\u4ee5\u7d05\u9152\u662f\u9577\u7dda\u53e6\u985e\u6295\u8cc7\u7684\u6069\u7269\uff0c\u56de\u5831\u9ad8\uff0c\u95dc\u806f\u7cfb\u6578\u4f4e\u3002\u518d\u8005\uff0c\u6301\u6709\u7d05\u9152\u53ef\u4ee5\u4ee4\u500b\u4eba\u793e\u4ea4\u5730\u4f4d\u65bc\u670b\u8f29\u9593\u63d0\u5347\uff0c\u7d05\u9152\u53c8\u6709\u85dd\u8853\u54c1\u7684\u6027\u8cea\uff0c\u5176\u9152\u838a\u7684\u6b77\u53f2\u80cc\u666f\uff0c\u8207\u53ca\u8461\u8404\u7684\u6536\u6210\u91c0\u88fd\u6545\u4e8b\uff0c\u5167\u542b\u4e86\u5f88\u591a\u6587\u5316\u50f9\u503c\uff0c\u7686\u662f\u7d05\u9152\u6295\u8cc7\u6240\u8981\u7d93\u9a57\u7684\u5143\u7d20\uff0c\u4ea6\u80fd\u5c55\u73fe\u51fa\u7d05\u9152\u6295\u8cc7\u8005\u6240\u9700\u8981\u7684\u6210\u719f\u614b\u5ea6\u53ca\u6c89\u5be6\u54c1\u6027\u3002<\/span><\/p>\n

 <\/p>\n

\u6295\u8cc7\u7d05\u9152\u662f\u6295\u8cc7\u65bc\u6b77\u53f2\uff0c\u6295\u8cc7\u80a1\u7968\u662f\u6295\u8cc7\u65bc\u672a\u4f86\u3002\u4e8c\u9078\u5176\u4e00\u4e0d\u662f\u6700\u597d\u505a\u6cd5\uff0c\u7d9c\u5408\u70ba\u4e00\u7684\u591a\u5143\u5206\u6563\u6295\u8cc7\uff0c\u624d\u662f\u8fd1\u4ee3\u8cc7\u7522\u7ba1\u7406\u7684\u8981\u8a23\u3002<\/span><\/p>\n

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 <\/p>\n

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\u5ef6\u4f38\u95b1\u8b80\uff1a<\/strong><\/span><\/p>\n

 <\/p>\n

    \n
  1. \u5f90\u5bb6\u5065\u6559\u6388\u76842019\u5e74\u8457\u4f5c\u300a\u7d93\u6fdf\u5b78\u8aaa\u85dd\u8853\u6295\u8cc7\u300b<\/a>\uff0c\u6b64\u66f8\u4e3b\u8981\u8b1b\u53ca\u85dd\u8853\u54c1\u6295\u8cc7\uff0c\u662f\u83ef\u6587\u6295\u8cc7\u66f8\u4e2d\u5c11\u6709\u7684\u984c\u6750\uff0c\u56e0\u70ba\u6709\u9322\u4eba\u4e0d\u6703\u5beb\uff0c\u5187<\/span>\u9322\u4eba<\/span>\u5beb<\/span>\u4e0d\u51fa\u3002<\/span><\/li>\n
  2. Vintage Chart \u5404\u5e74\u5404\u5730\u7d05\u9152\u8cea\u7d20\u8a55\u5206<\/a><\/span><\/li>\n<\/ol>\n

     <\/p>\n

     <\/p>\n

     <\/p>\n

     <\/p>\n

    Image from billvalerie.com<\/em><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

    \u53e6\u985e\u6295\u8cc7#1-\u7d05\u9152   \u6295\u8cc7\u7269\u7684\u7a2e\u985e\u4e94\u82b1\u767e\u9580\uff0c\u7531\u9ec3\u91d1\u80a1\u7968\u5230\u6ce2\u978b\u9583\u5361\u90fd\u53ef\u4ee5\u88ab\u8996\u70ba\u6295\u8cc7\u7269\u3002\u5e7e\u5341\u5e74\u524d\u7684\u6295\u8cc7…<\/p>\n","protected":false},"author":1,"featured_media":4008,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false},"version":2}},"categories":[1],"tags":[22,40,23],"class_list":["post-4003","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-1","tag-22","tag-40","tag-23"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.mpfdiy.com\/wp-content\/uploads\/2019\/10\/wine3.jpg?fit=634%2C418&ssl=1","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p7Tc20-12z","jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/www.mpfdiy.com\/wp-json\/wp\/v2\/posts\/4003","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.mpfdiy.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.mpfdiy.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.mpfdiy.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.mpfdiy.com\/wp-json\/wp\/v2\/comments?post=4003"}],"version-history":[{"count":5,"href":"https:\/\/www.mpfdiy.com\/wp-json\/wp\/v2\/posts\/4003\/revisions"}],"predecessor-version":[{"id":7509,"href":"https:\/\/www.mpfdiy.com\/wp-json\/wp\/v2\/posts\/4003\/revisions\/7509"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.mpfdiy.com\/wp-json\/wp\/v2\/media\/4008"}],"wp:attachment":[{"href":"https:\/\/www.mpfdiy.com\/wp-json\/wp\/v2\/media?parent=4003"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.mpfdiy.com\/wp-json\/wp\/v2\/categories?post=4003"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.mpfdiy.com\/wp-json\/wp\/v2\/tags?post=4003"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}