{"id":7694,"date":"2023-02-06T02:10:24","date_gmt":"2023-02-05T18:10:24","guid":{"rendered":"https:\/\/www.mpfdiy.com\/?p=7694"},"modified":"2023-02-13T03:39:36","modified_gmt":"2023-02-12T19:39:36","slug":"%e9%81%bf%e9%9a%aa%e7%ad%96%e7%95%a5","status":"publish","type":"post","link":"https:\/\/www.mpfdiy.com\/2023\/02\/%e9%81%bf%e9%9a%aa%e7%ad%96%e7%95%a5\/","title":{"rendered":"\u907f\u96aa\u7b56\u7565"},"content":{"rendered":"

\u907f\u96aa\u7b56\u7565<\/span><\/strong><\/span><\/p>\n

 <\/p>\n

2008\u5e74\u91d1\u878d\u6d77\u562f\u4e4b\u5f8c\uff0c\u6295\u8cc7\u5e02\u5834\u4e00\u5207\u6b4c\u821e\u6607\u5e73\uff0c\u76f4\u81f32020\u5e74\u7684\u80ba\u708e\u75ab\u60c5\uff0c\u5168\u7403\u80a1\u5e02\u51fa\u73fe\u80a1\u707d\u5f0f\u7684\u4e0b\u8dcc\uff0c\u4e4b\u5f8c\u798d\u4e0d\u55ae\u884c\uff0c2022\u5e74\u53c8\u8dcc\u4e00\u92ea\u3002<\/span><\/p>\n

 <\/p>\n

2008\u5e74\u91d1\u878d\u6d77\u562f\u4e4b\u5f8c\uff0c\u4ee4\u6295\u8cc7\u754c\u51fa\u73fe\u4e0d\u540c\u7684\u907f\u96aa\u65b9\u6cd5\uff0c\u8fd1\u6708AQR \u7684\u4e00\u4efd\u7814\u7a76\u5831\u544a\uff0c\u6aa2\u8a0e\u4e00\u4e0b\u7576\u4e2d3\u500b\u907f\u96aa\u65b9\u6cd5\uff0c\u65bc2020\u5e74\u53ca2022\u5e74\u7684\u8868\u73fe\uff0c\u770b\u770b\u5b83\u5011\u80fd\u5426\u6210\u529f\u907f\u96aa\u3002<\/span><\/p>\n

 <\/p>\n

https:\/\/www.aqr.com\/Insights\/Research\/Alternative-Thinking\/Should-Your-Portfolio-Protection-Work-Fast-or-Slow<\/a><\/p>\n

 <\/p>\n

 <\/p>\n

\u7b2c\u4e00\u500b\u65b9\u6cd5<\/strong>\u662f\u4e3b\u52d5\u5730\u8cb7\u5165\u4e00\u4e9b\u65bc\u8dcc\u5e02\u6642\u671f\u50f9\u683c\u6703\u4e0a\u5347\u7684\u8cc7\u7522\uff0c\u4f8b\u5982\u524d\u6587<\/a>\u6240\u8a0e\u8ad6\u7684IVOL, \u6216\u8005TAIL \u7b49\u7b49\u7684tail risk<\/span> ETF, \u5c31\u662f\u7576\u4e2d\u7684\u4f8b\u5b50\u3002<\/span><\/p>\n

 <\/p>\n

\u7b2c\u4e8c\u500b\u65b9\u6cd5<\/strong>\u662fprotective put,\u00a0 \u5373\u662f\u8cb7\u6b63\u80a1\u7684\u540c\u6642\uff0c\u4ea6\u8cb7\u5165\u5c0d\u7b49\u7684put option<\/span> \u53bb\u5c0d\u6c96\u4e0b\u8dcc\u98a8\u96aa\uff0c\u7b49\u65bc\u5e6b\u6b63\u80a1\u8cb7\u4fdd\u96aa\uff0c\u672c\u7ad9\u4e4b\u524d\u5df2\u7d93\u6709\u6587\u7ae0\u8a0e\u8ad6\u9019\u500b\u65b9\u6cd5 (\u898b\u6b64<\/a>) \uff0c\u800c\u4e14\u4ea6\u6709\u4e9b\u904b\u7528\u540c\u985e\u65b9\u6cd5\u7684ETF \u6b63\u5728\u5e02\u5834\u4e0a\u904b\u4f5c(\u898b\u6b64).<\/span><\/p>\n

 <\/p>\n

\u7b2c\u4e09\u500b\u65b9\u6cd5<\/strong>\u662f\u7528trend following<\/span> \u53bb\u907f\u96aa\uff0c\u9019\u500b\u65b9\u6cd5\u662f\u4e00\u5806\u904b\u7528tactical asset allocation \u7684ETF \u6b63\u5728\u4f7f\u7528\u7684\u907f\u96aa\u65b9\u6cd5\uff0c\u898b\u524d\u6587<\/a>\uff0c\u61c9\u7528\u4e0d\u540c\u7684\u6307\u6a19\u53bb\u5224\u65b7\u5e02\u6cc1\uff0c\u7136\u5f8c\u65bcrisk-on \u6642\u9593\u9032\u653b\uff0crisk-off \u6642\u9593\u907f\u96aa\u3002<\/span><\/p>\n

 <\/p>\n

 <\/p>\n

 <\/p>\n

 <\/p>\n

 <\/p>\n

\u7814\u7a76\u6587\u7bc7\u8a8d\u70batrend following \u65b9\u6cd5\u6703\u6bd4\u5176\u4ed6\u5169\u500b\u65b9\u6cd5\u66f4\u597d<\/span>\u3002\u9996\u5148\u662f\u5927\u8dcc\u5e02\u4e4b\u5f8c\u5f80\u5f80\u4f34\u96a8\u7684\u662f\u5927\u5347\u5e02\uff0ctail risk \u53ca put option \u65bc\u5927\u4e0a\u5927\u843d\u5468\u671f\uff0c\u8f49\u8eab\u6703\u5f88\u6162\uff0c\u4ee4portfolio \u8fce\u63a5\u4e0d\u5230\u5feb\u901f\u7684\u4e0a\u5347\u5468\u671f\u3002<\/span><\/p>\n

 <\/p>\n

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

 <\/p>\n

 <\/p>\n

\u53e6\u5916\uff0c\u65bc\u6f2b\u9577\u7684\u5347\u5e02\u671f\u9593\uff0ctail risk \u53ca put option \u90fd\u5f88\u8cb4\u3002tail risk \u6703\u4e0d\u65b7\u65bc\u6f2b\u9577\u7684\u5347\u5e02\u671f\u9593\u8755\u9322\uff0c\u800cput option \u65b9\u6cd5\u65bc\u5347\u5e02\u6642\u4ea6\u6703\u7d93\u5e38\u8755\u671f\u6b0a\u91d1\u3002<\/span><\/p>\n

 <\/p>\n

 <\/p>\n

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

 <\/p>\n

 <\/p>\n

 <\/p>\n

\u6240\u4ee5\uff0c\u6309\u7814\u7a76\u6587\u7ae0\u7684\u5716\u8868\u986f\u793a\uff0c\u9577\u671f\u4f7f\u7528\u524d\u5169\u500b\u907f\u96aa\u65b9\u6cd5\uff0c\u7684\u78ba\u53ef\u4ee5\u65bc\u8dcc\u5e02\u6642\u8cfa\u9322\uff0c\u4f46\u540c\u6642\u4ea6\u65bc\u5347\u5e02\u6642\u8755\u9322\uff0c\u6574\u9ad4\u53ef\u80fd\u51fa\u73fe\u8755\u591a\u904e\u8cfa\u3002<\/span><\/p>\n

 <\/p>\n

\u5982\u679c\u7528trend following,\u00a0 \u7121\u932f\u65bc\u8dcc\u5e02\u6642\u6c92\u6709\u50cf\u5176\u4ed6\u5169\u500b\u65b9\u6cd5\u53bb\u5012\u8cfa\uff0c\u4f46\u9577\u9060\u56de\u5831\u662f\u6700\u9ad8\u3002\u904b\u7528 trend following \u7684\u6295\u8cc7\u8005\u5c31\u8981\u6709\u627f\u53d7\u77ed\u671f\u4e0b\u8dcc\u7684\u80fd\u529b\uff0c\u7136\u5f8c\u8fce\u63a5\u9577\u671f\u7684\u9ad8\u56de\u5831\u3002<\/span><\/p>\n

 <\/p>\n

\u7814\u7a76\u6587\u7ae0\u7684\u6700\u5f8c\uff0c\u63d0\u51fa\u4e86\u4f7f\u7528\u4e0d\u540c\u985e\u578b\u7684trend following<\/span> \u3002\u81f3\u65bc\u4ec0\u9ebc\u662f\u4e0d\u540c\u985e\u578b\u7684trend following ?\u00a0 \u7559\u5f85\u4e0b\u6587<\/a>\u5206\u4eab\u3002<\/span><\/p>\n

 <\/p>\n

 <\/p>\n

 <\/p>\n

 <\/p>\n

 <\/p>\n

 <\/p>\n

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

\u907f\u96aa\u7b56\u7565   2008\u5e74\u91d1\u878d\u6d77\u562f\u4e4b\u5f8c\uff0c\u6295\u8cc7\u5e02\u5834\u4e00\u5207\u6b4c\u821e\u6607\u5e73\uff0c\u76f4\u81f32020\u5e74\u7684\u80ba\u708e\u75ab\u60c5\uff0c\u5168\u7403\u80a1\u5e02\u51fa\u73fe\u80a1…<\/p>\n","protected":false},"author":1,"featured_media":7704,"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":[11,22,40,23],"class_list":["post-7694","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-1","tag-etf","tag-22","tag-40","tag-23"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.mpfdiy.com\/wp-content\/uploads\/2023\/02\/riskadv3.jpg?fit=857%2C398&ssl=1","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p7Tc20-206","jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/www.mpfdiy.com\/wp-json\/wp\/v2\/posts\/7694","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=7694"}],"version-history":[{"count":5,"href":"https:\/\/www.mpfdiy.com\/wp-json\/wp\/v2\/posts\/7694\/revisions"}],"predecessor-version":[{"id":7727,"href":"https:\/\/www.mpfdiy.com\/wp-json\/wp\/v2\/posts\/7694\/revisions\/7727"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.mpfdiy.com\/wp-json\/wp\/v2\/media\/7704"}],"wp:attachment":[{"href":"https:\/\/www.mpfdiy.com\/wp-json\/wp\/v2\/media?parent=7694"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.mpfdiy.com\/wp-json\/wp\/v2\/categories?post=7694"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.mpfdiy.com\/wp-json\/wp\/v2\/tags?post=7694"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}