{"id":725,"date":"2017-02-03T15:49:18","date_gmt":"2017-02-03T07:49:18","guid":{"rendered":"https:\/\/www.mpfdiy.com\/?p=725"},"modified":"2019-01-10T15:39:05","modified_gmt":"2019-01-10T07:39:05","slug":"%e6%a7%93%e6%a1%bf%e6%8a%95%e8%b3%874-%e5%87%b1%e5%88%a9%e7%b7%9a","status":"publish","type":"post","link":"https:\/\/www.mpfdiy.com\/2017\/02\/%e6%a7%93%e6%a1%bf%e6%8a%95%e8%b3%874-%e5%87%b1%e5%88%a9%e7%b7%9a\/","title":{"rendered":"\u69d3\u687f\u6295\u8cc7#4 – \u300c\u51f1\u5229\u7dda\u300d"},"content":{"rendered":"
<\/p>\n
\u7e8c\u524d\u4e09\u6587 1<\/a> 2<\/a> 3<\/a><\/span><\/p>\n <\/p>\n \u7e3d\u62ec\u4f86\u8aaa\uff0c\u4e09\u500b\u69d3\u687f\u6295\u8cc7\u4f8b\u5b50\u7684\u6700\u4f73\u57f7\u884c\u6642\u671f\uff0c\u53ea\u662f\u96f6\u5229\u7387\u6642\u4ee3\uff0c\u800c\u4e14\u975e\u5e38\u77ed\u66ab\u3002\u9019\u4e9b\u9ad8\u69d3\u687f\u6295\u8cc7\u8005\u53ea\u8457\u773c\u65bc\u9ad8\u56de\u5831\uff0c\u5b8c\u5168\u5ffd\u8996\u9ad8\u6ce2\u5e45\u53ca\u9577\u671f\u672c\u91d1\u589e\u9577\u7387\uff08\u51f1\u5229\u6578\u5b57<\/a>\uff09\uff0c\u5bb9\u6613\u9677\u5165\u6295\u8cc7\u76f2\u9ede\u3002<\/span><\/p>\n <\/p>\n \u5229\u7387\u6b63\u5e38\u5316\u4e4b\u4e0b\uff0c\u5e73\u5747\u9577\u671fLIBOR\u6703\u4e0a\u5347\u81f33.9%\uff0c\u7531\u65bc\u501f\u8cb8\u5229\u7387\u4e0a\u5347\uff0c\u9577\u671f\u69d3\u687f\u6295\u8cc7\u4fbf\u6703\u56e0\u904e\u9ad8\u69d3\u687f\u800c\u51fa\u73fe\u56de\u5831\u4e0b\u964d\uff0c\u5229\u7387\u6ce2\u52d5\u53c8\u5f15\u81f4\u76f4\u50b5\u6ce2\u5e45\u4e0a\u5347\uff0c\u751a\u81f3\u51fa\u73fe\u300c\u5169\u500d\u5168\u51f1\u5229<\/a>\u300d\u5c11\u65bc1\u60c5\u6cc1\uff0c\u9577\u671f\u672c\u91d1\u589e\u9577\u7387\u6703\u662f\u8ca0\u6578<\/span>\u3002<\/strong><\/span><\/p>\n <\/p>\n \u300c\u51f1\u5229\u7dda\u300d<\/span><\/strong><\/span><\/p>\n <\/p>\n \u5c07\u51f1\u5229\u6578\u5b57\u70ba1\u7684\u56de\u5831\u6ce2\u5e45\u7d44\u5408\u88fd\u4f5c\u6210\u4e00\u689d\u7dda\uff0c\u662f\u70ba\u300c\u51f1\u5229\u7dda\u300d\uff0c\u5728\u56de\u5831\u6ce2\u5e45\u5716\u4e2d\u986f\u793a\uff0c\u53ef\u4ee5\u8f03\u70ba\u5bb9\u6613\u6bd4\u8f03\u4e0d\u540c\u6295\u8cc7\u7269\u3002<\/span><\/p>\n <\/p>\n \u5982\u4e0b\u5716\uff0c\u7da0\u8272\u7684\u7dda\u5c31\u662f\u300c\u534a\u51f1\u5229<\/strong>\u300d\u7b49\u65bc1<\/span>\uff0c\u9ec3\u8272\u662f\u300c\u5168\u51f1\u5229<\/strong>\u300d\u7b49\u65bc1<\/span>\uff0c\u800c\u7d05\u8272\u662f\u300c\u5169\u500d\u5168\u51f1\u5229<\/strong>\u300d\u7b49\u65bc1<\/span>\u3002\u4f4d\u7f6e\u6108\u5de6\u4e0a\u6108\u9060\u96e2\u7da0\u8272\u908a\u7de3\u7684\uff0c\u5c31\u6108\u80fd\u9032\u884c\u9ad8\u69d3\u687f\uff0c\u4f8b\u5982\u653f\u5e9c\u50b5\u5238\uff08AGG\uff09\u3001\u4f01\u696d\u6295\u8cc7\u7d1a\u5225\u50b5\u5238\uff08LQD\uff09\u3001\u5be6\u7269\u7269\u696d\u51fa\u79df\uff08\u898b\u6b64<\/a>\uff09\u3001\u5be6\u7269\u7269\u696d\u8cb7\u8ce3\u7b49\uff0c\u672c\u8eab\u6ce2\u5e45\u8f03\u4f4e\uff08\u7d04\u70ba2%\uff09\uff0c\u52a0\u4e0a\u56de\u5831\u4e2d\u7b49\uff08\u7d04\u70ba5%\uff09\uff0c\u662f\u53ef\u4ee5\u8003\u616e\u9032\u884c\u69d3\u687f\u6295\u8cc7\u7684\u9818\u57df\u3002<\/span><\/p>\n <\/p>\n <\/p>\n <\/p>\n \u5982\u679c\u6295\u8cc7\u7269\u7684\u56de\u5831\u6ce2\u5e45\u4f4d\u65bc\u9ec3\u7dda\uff0c\u4f8b\u5982\u6052\u751f\u5730\u7522\u5206\u985e\u6307\u6578\uff0c\u662f\u300c\u5168\u51f1\u5229\u300d\u7b49\u65bc1\uff0c\u9577\u671f\u56de\u5831\u5df2\u7d93\u5230\u9054\u9802\u5cf0\uff0c\u4e0d\u80fd\u518d\u52a0\u5927\u69d3\u687f\u3002\u53e6\u5916\uff0c\u5373\u4f7f\u662f\u4f4d\u65bc\u9ec3\u7dda\uff0c\u82e5\u679c\u6309\u6708\u6ce2\u5e45\u5927\u65bc8%\uff0c\u6ce2\u5e45\u901a\u5e38\u8f03\u5927\uff0c\u672a\u5fc5\u662f\u81ea\u5df1\u53ef\u4ee5\u627f\u53d7\u7684\u6c34\u5e73\uff08\u898b\u6b64<\/a>\uff09\u3002<\/span><\/p>\n <\/p>\n \u5982\u679c\u4f4d\u65bc\u9ec3\u7dda\u8207\u7d05\u7dda\u4e4b\u9593\uff0c\u4f8b\u5982\u501f\u8cb8\u592a\u591a\u7684\u50b5\u5238\u69d3\u687f\uff0c\u9577\u671f\u56de\u5831\u6703\u958b\u59cb\u7531\u6700\u9802\u5cf0\u56de\u843d\uff0c\u9ad8\u6ce2\u5e45\u4f46\u9577\u671f\u672c\u91d1\u589e\u9577\u7387\u4f4e\uff0c\u4e26\u4e0d\u53ef\u53d6\u3002<\/span><\/p>\n <\/p>\n \u7576\u5230\u9054\u7d05\u7dda\u300c\u5169\u500d\u5168\u51f1\u5229\u300d\uff0c\u4f8b\u5982\u50b5\u5238\u69d3\u687f+REIT\uff0c\u9577\u671f\u672c\u91d1\u589e\u9577\u7387\u4fbf\u70ba\u96f6<\/span>\uff1b\u800c\u518d\u51fa\u7d05\u7dda\u4ee5\u5916\uff0c\u5373\u300c\u5169\u500d\u5168\u51f1\u5229\u300d\u5c11\u65bc1\uff0c\u9577\u671f\u672c\u91d1\u589e\u9577\u7387\u8b8a\u70ba\u8ca0\u6578<\/span>\u3002<\/span><\/p>\n <\/p>\n \u518d\u7528\u4e00\u500b\u8868\u4f5c\u4e09\u500b\u69d3\u687f\u6295\u8cc7\u4f8b\u5b50\u7684\u7e3d\u7d50\uff1a<\/span>\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0<\/span><\/p>\n <\/p>\n \u4fdd\u55ae\u69d3\u687f<\/span><\/strong><\/td>\n <\/p>\n \u5be6\u969b\uff1a8%\uff08\u4fdd\u55ae\u56de\u5831\u70ba3.5%\u53ca\u501f\u8cb8\u606f\u7387\u70ba3%\uff09<\/span><\/td>\n <\/p>\n <\/p>\n 8.6%<\/span><\/td>\n <\/p>\n <\/p>\n 0.45<\/span><\/td>\n<\/tr>\n \u50b5\u5238\u69d3\u687f<\/span><\/strong><\/td>\n <\/p>\n \u5be6\u969b\uff1a19%\uff08\u501f\u8cb8\u606f\u7387\u70ba3%\uff09<\/span><\/p>\n <\/td>\n <\/p>\n 16.4%<\/span><\/p>\n <\/td>\n <\/p>\n 0.59<\/span><\/p>\n <\/td>\n<\/tr>\n \u50b5\u5238\u69d3\u687f+REIT<\/span><\/strong><\/td>\n <\/p>\n \u5be6\u969b\uff1a12.1%\uff08\u501f\u8cb8\u606f\u7387\u70ba3%\u3001\u76f4\u50b5\u7684\u56de\u5831\u70ba5%\u53ca\u6309\u6708\u6ce2\u5e45\u70ba4.6%\uff09<\/span><\/p>\n <\/td>\n <\/p>\n <\/p>\n 14.2%<\/span><\/p>\n <\/td>\n <\/p>\n <\/p>\n 0.25<\/span><\/p>\n <\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n <\/p>\n <\/p>\n \u80a1\u58c7\u50b3\u5947\u4eba\u7269\uff08\u4f8b\u5982Jesse Livermore\uff09\u90fd\u662f\u56e0\u9ad8\u6ce2\u5e45\u9ad8\u56de\u5831<\/span>\uff0c\u4e0d\u65b7\u5730\u91cd\u8986\u8cfa\u5f88\u591a\u9322\uff08\u56e0\u70ba\u9ad8\u56de\u5831\uff09<\/span>\u53ca\u7834\u5f88\u591a\u6b21\u7522\uff08\u56e0\u70ba\u300c\u5169\u500d\u5168\u51f1\u5229\u300d\u5c11\u65bc1\uff09<\/span>\u9019\u500b\u5faa\u74b0\u3002\u5927\u4e0a\u5927\u843d\u7834\u7522\u6536\u57f8\u771f\u7684\u53ea\u662f\u80a1\u58c7\u50b3\u5947\u7684\u559c\u597d\uff0c\u4e26\u975e\u51e1\u592b\u4fd7\u5b50\u53ef\u4ee5\u4f01\u53ca\u3002<\/span><\/p>\n <\/p>\n \u56de\u5831\u53ca\u6ce2\u5e45\u662f\u6700\u5be6\u7528\u3001\u6700\u6613\u7372\u53d6\u3001\u6700\u6613\u6bd4\u8f03\u3001\u6700\u591a\u7528\u9014\u7684\u6295\u8cc7\u5206\u6790\u5de5\u5177\uff0c\u9664\u4e86\u5f37\u7a4d\u91d1\u53ca\u57fa\u91d1\u5927\u91cf\u4f7f\u7528\u4e4b\u5916\uff0c\u6574\u9ad4\u500b\u4eba\u7406\u8ca1<\/a>\u4ea6\u53ef\u5e6b\u5230\u624b\u3002\u771f\u7684\u5e0c\u671b\u5404\u4f4d\u82b1\u6642\u9593\u591a\u52a0\u4e86\u89e3\uff0c\u4ee5\u5b8c\u5168\u660e\u767d\u4e0a\u5716\u300c\u51f1\u5229\u7dda\u300d\u70ba\u76ee\u6a19\uff0c\u5c07\u81ea\u5df1\u6240\u6709\u7684\u500b\u4eba\u6295\u8cc7\u8cc7\u7522\uff0c\u7d9c\u5408\u8a08\u7b97\u51fa\u4e00\u500b\u5e74\u5747\u56de\u5831\u53ca\u4e00\u500b\u6309\u6708\u6ce2\u5e45\uff0c\u653e\u5165\u300c\u51f1\u5229\u7dda\u300d\u5716\u4e2d\uff0c\u770b\u770b\u81ea\u5df1\u6295\u8cc7\u8eab\u8655\u4ec0\u9ebc\u4f4d\u7f6e\uff0c\u662f\u597d\u662f\u58de\uff0c\u518d\u4f5c\u9069\u7576\u7684\u8abf\u52d5\u3002<\/span><\/p>\n <\/p>\n <\/p>\n<\/a>
\n\n
\n <\/td>\n \u5e74\u5747\u56de\u5831<\/span><\/strong><\/td>\n \u6309\u6708\u6ce2\u5e45<\/span><\/strong><\/td>\n \u300c\u534a\u51f1\u5229\u300d<\/span><\/strong><\/td>\n<\/tr>\n \n \u69d3\u687f\u6295\u8cc7\u4f8b\u5b50\u4e00\uff1a<\/span><\/p>\n \u7406\u60f3\uff1a22%\uff08\u4fdd\u55ae\u56de\u5831\u70ba4%\u53ca\u501f\u8cb8\u606f\u7387\u70ba2%\uff09<\/span><\/p>\n 8.6%<\/span><\/p>\n 1.24<\/span><\/p>\n \n \u69d3\u687f\u6295\u8cc7\u4f8b\u5b50\u4e8c\uff1a<\/span><\/p>\n \u7406\u60f3\uff1a22%\uff08\u501f\u8cb8\u606f\u7387\u70ba2%\uff09<\/span><\/p>\n 16.4%<\/span><\/p>\n 0.68<\/span><\/p>\n \n \u69d3\u687f\u6295\u8cc7\u4f8b\u5b50\u4e09\uff1a<\/span><\/p>\n \u7406\u60f3\uff1a17.7%\uff08\u501f\u8cb8\u606f\u7387\u70ba2%\u3001\u76f4\u50b5\u7684\u56de\u5831\u70ba7%\u53ca\u6309\u6708\u6ce2\u5e45\u70ba3.6%\uff09<\/span><\/p>\n 12.2%<\/span><\/p>\n 0.50<\/span><\/p>\n