{"id":6467,"date":"2007-07-20T14:19:00","date_gmt":"2007-07-20T06:19:00","guid":{"rendered":"https:\/\/www.house730.com\/news\/?p=6467"},"modified":"2020-11-30T10:07:25","modified_gmt":"2020-11-30T02:07:25","slug":"%e5%b0%8f%e5%bf%83%e5%a2%ae%e5%85%a5%e5%85%a7%e5%b9%95%e4%ba%a4%e6%98%93%e8%a1%8c%e5%be%91","status":"publish","type":"post","link":"https:\/\/www.house730.com\/news\/6467\/%e5%b0%8f%e5%bf%83%e5%a2%ae%e5%85%a5%e5%85%a7%e5%b9%95%e4%ba%a4%e6%98%93%e8%a1%8c%e5%be%91\/","title":{"rendered":"\u5c0f\u5fc3\u58ae\u5165\u201c\u5167\u5e55\u4ea4\u6613\u201d\u884c\u5f91"},"content":{"rendered":"
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\u6709 \u5831 \u5c0e \u672c \u6e2f \u653f \u7d93 \u754c \u540d \u4eba \u674e \u570b \u5bf6 \uff0c \u88ab \u6307 \u6d89 \u53ca \u7f8e \u570b \u675c \u74ca \u65af \u516c \u53f8 \u5167 \u5e55 \u4ea4 \u6613 \uff0c \u9700 \u63a5 \u53d7 \u7f8e \u570b \u8b49 \u5238 \u4ea4 \u6613 \u59d4 \u54e1 \u6703 \u8abf \u67e5 \u3002 \u7a76 \u7adf \u4ec0 \u9ebc \u662f \u5167 \u5e55 \u4ea4 \u6613 \uff0c \u9813 \u6642 \u53c8 \u6210 \u70ba \u672c \u5730 \u71b1 \u9580 \u8a71 \u984c \u3002 <\/font><\/div>\n
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\u689d \u4f8b \u4fdd \u969c \u6295 \u8cc7 \u8005 <\/font><\/div>\n
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\u4e0a \u5e02 \u516c \u53f8 \u80a1 \u7968 \u5728 \u5e02 \u5834 \u4e4b \u50f9 \u683c \uff0c \u5176 \u5be6 \u53cd \u6620 \u6295 \u8cc7 \u8005 \u5728 \u53d6 \u5f97 \u76f8 \u95dc \u6295 \u8cc7 \u8a0a \u606f \ufe5d \u5305 \u62ec \u516c \u53f8 \u5167 \u5916 \u8a0a \u606f \ufe5e \uff0c \u4e26 \u5c0d \u516c \u53f8 \u672a \u4f86 \u76c8 \u5229 \u4f5c \u51fa \u63a8 \u7b97 \u4e0b \uff0c \u53ef \u63a5 \u53d7 \u4e4b \u76f8 \u95dc \u80a1 \u7968 \u8cb7 \u5165 \u50f9 \ufe5d \u6216 \u8ce3 \u51fa \u50f9 \ufe5e \u3002 \u5728 \u516c \u5e73 \u6295 \u8cc7 \u74b0 \u5883 \u4e0b \uff0c \u6bcf \u500b \u6295 \u8cc7 \u8005 \u61c9 \u6709 \u540c \u7b49 \u6a5f \u6703 \u53d6 \u5f97 \u76f8 \u95dc \u6295 \u8cc7 \u8a0a \u606f \uff0c \u800c \u5b78 \u8853 \u754c \u5021 \u5c0e \u4e4b “ \u6548 \u7387 \u5e02 \u5834 ” (efficient market)\uff0c \u5c31 \u662f \u6307 \u5e02 \u5834 \u5167 \u6295 \u8cc7 \u7522 \u54c1 \u4e4b \u6210 \u4ea4 \u50f9 \uff0c \u5df2 \u5305 \u542b \u5168 \u90e8 “ \u7576 \u524d \u53ef \u53d6 \u5f97 \u4e4b \u76f8 \u95dc \u8cc7 \u6599 ” (currently available relevant information)\u4e4b \u56e0 \u7d20 \u3002 <\/font><\/div>\n
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\u7531 \u65bc \u4e0a \u5e02 \u516c \u53f8 \u4e4b \u696d \u52d9 \u904b \u4f5c \u53ca \u767c \u5c55 \u52d5 \u5411 \uff0c \u5176 \u76f8 \u95dc \u8cc7 \u8a0a \u6709 \u6a5f \u6703 \u88ab \u90e8 \u4efd \u4eba \u58eb \u77e5 \u6089 \ufe5d \u7576 \u4e2d \u5305 \u62ec \u516c \u53f8 \u80a1 \u6771 \u3001 \u8463 \u4e8b \u3001 \u9ad8 \u7d1a \u884c \u653f \u4eba \u54e1 \u53ca \u696d \u52d9 \u5925 \u4f34 \u7b49 \ufe5e \uff0c \u7576 \u5c11 \u6578 \u4eba \u58eb \u80fd \u5229 \u7528 \u8a72 \u7b49 \u8a0a \u606f \u8cb7 \u8ce3 \u516c \u53f8 \u80a1 \u7968 \uff0c \u5c0d \u7121 \u6cd5 \u53d6 \u5f97 \u76f8 \u540c \u8a0a \u606f \u4e4b \u5176 \u4ed6 \u6295 \u8cc7 \u8005 \u662f \u4e0d \u516c \u5e73 \u7684 \uff0c \u6545 \u5167 \u5e55 \u4ea4 \u6613 \u689d \u4f8b \u4e4b \u8a2d \u5b9a \uff0c \u5c31 \u662f \u8981 \u4fdd \u969c \u6240 \u6709 \u6295 \u8cc7 \u8005 \u5728 \u516c \u5e73 \u4e4b \u74b0 \u5883 \u4e0b \ufe5d \u6307 \u5927 \u5bb6 \u7957 \u53ef \u5229 \u7528 \u76f8 \u540c \u4e4b \u6295 \u8cc7 \u8a0a \u606f \ufe5e \u9032 \u884c \u8cb7 \u8ce3 \u4ea4 \u6613 \u3002 <\/font><\/div>\n
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\u70ba \u65b9 \u4fbf \u7db2 \u6c11 \u77ad \u89e3 \u7279 \u5340 \u653f \u5e9c \u5c0d \u5167 \u5e55 \u4ea4 \u6613 \u4e4b \u76e3 \u7ba1 \uff0c \u7b46 \u8005 \u7279 \u610f \u5c07 \u9999 \u6e2f «\u8b49 \u5238 \u53ca \u671f \u8ca8 \u689d \u4f8b »\u5167 \u76f8 \u95dc \u689d \u6587 \u64ae \u8ff0 \u5982 \u4e0b \ufe30 <\/font><\/div>\n
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(1)         <\/span>\u5167 \u5e55 \u4ea4 \u6613 \u53ef \u80fd \u5728 \u4e0b \u5217 \u60c5 \u6cc1 \u767c \u751f \ufe30 <\/font><\/div>\n
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–         <\/span>\u67d0 \u95dc \u9023 \u4eba \u58eb \u638c \u63e1 \u6709 \u95dc \u6d88 \u606f \u4e26 \u5229 \u7528 \u6709 \u95dc \u6d88 \u606f \u9032 \u884c \u4ea4 \u6613 \u6216 \u4fc3 \u4f7f \u4ed6 \u4eba \u9032 \u884c \u4ea4 \u6613 \uff1b \u6216 \u5728 \u660e \u77e5 \u67d0 \u4eba \u6703 \u9032 \u884c \u4ea4 \u6613 \u6216 \u4fc3 \u4f7f \u4ed6 \u4eba \u9032 \u884c \u4ea4 \u6613 \u7684 \u60c5 \u6cc1 \u4e0b \uff0c \u5411 \u8a72 \u4eba \u62ab \u9732 \u6709 \u95dc \u6d88 \u606f \uff1b \u53c8 \u6216 \u67d0 \u4eba \u81ea \u95dc \u9023 \u4eba \u58eb \u7372 \u5f97 \u6709 \u95dc \u6d88 \u606f \u4e26 \u96a8 \u5373 \u7528 \u65bc \u4e0a \u8ff0 \u76ee \u7684 \uff1b <\/font><\/div>\n
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–         <\/span>\u5c31 \u6536 \u8cfc \u800c \u8a00 \uff0c \u53c3 \u8207 \u8a72 \u9805 \u6536 \u8cfc \u7684 \u4eba \u58eb \u7372 \u77e5 \u6536 \u8cfc \u6210 \u70ba \u6709 \u95dc \u6d88 \u606f \uff0c \u537b \u51fa \u65bc \u6536 \u8cfc \u4ee5 \u5916 \u7684 \u76ee \u7684 \uff0c \u5229 \u7528 \u6709 \u95dc \u6d88 \u606f \u9032 \u884c \u4ea4 \u6613 \u6216 \u4fc3 \u4f7f \u4ed6 \u4eba \u9032 \u884c \u4ea4 \u6613 \uff1b \u53c8 \u6216 \u5c31 \u6536 \u8cfc \u800c \u8a00 \uff0c \u7372 \u77e5 \u6536 \u8cfc \u6210 \u70ba \u6709 \u95dc \u6d88 \u606f \uff0c \u81ea \u53c3 \u8207 \u8a72 \u9805 \u6536 \u8cfc \u7684 \u4eba \u58eb \u7372 \u5f97 \u4e0a \u8ff0 \u6d88 \u606f \u4e26 \u96a8 \u5373 \u7528 \u65bc \u4e0a \u8ff0 \u76ee \u7684 \u3002 <\/font><\/div>\n
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(2)         <\/span>\u689d \u4f8b \u8ce6 \u4e88 \u4e4b \u5169 \u500b \u5b9a \u7fa9 \ufe30 <\/font><\/div>\n
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–         <\/span>“ \u6709 \u95dc \u6d88 \u606f ” \u4e43 \u6307 \u8207 \u67d0 \u516c \u53f8 \u3001 \u5176 \u80a1 \u6771 \u6216 \u9ad8 \u7d1a \u4eba \u54e1 \u6216 \u5176 \u4e0a \u5e02 \u8b49 \u5238 \u6709 \u95dc \uff0c \u800c \u4e26 \u975e \u70ba \u6163 \u5e38 \u6216 \u53ef \u80fd \u6703 \u8cb7 \u8ce3 \u5176 \u4e0a \u5e02 \u8b49 \u5238 \u7684 \u4eba \u58eb \u6240 \u77e5 \u7684 \u7279 \u5225 \u6d88 \u606f \uff1b \u4f46 \u5982 \u679c \u8a72 \u7279 \u5225 \u6d88 \u606f \u4e00 \u65e6 \u666e \u904d \u70ba \u4ed6 \u5011 \u6240 \u77e5 \uff0c \u5247 \u53ef \u80fd \u6703 \u5c0d \u4e0a \u8ff0 \u8b49 \u5238 \u7684 \u50f9 \u683c \u9020 \u6210 \u91cd \u5927 \u5f71 \u97ff \u3002 <\/font><\/div>\n
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–         <\/span>“ \u95dc \u9023 \u4eba \u58eb ” \u5247 \u662f \u6307 \u67d0 \u516c \u53f8 \u53ca \u5176 \u6709 \u9023 \u7e6b \u6a5f \u69cb \u7684 \u8463 \u4e8b \u3001 \u50f1 \u54e1 \u6216 \u5927 \u80a1 \u6771 \ufe5d \u5c31 \u5167 \u5e55 \u4ea4 \u6613 \u800c \u8a00 \uff0c \u6301 \u6709 \u80a1 \u4efd \u9762 \u503c \u81f3 \u5c11 5%\ufe5e \uff1b \u56e0 \u70ba \u8207 \u8a72 \u516c \u53f8 \u6216 \u6709 \u9023 \u7e6b \u6a5f \u69cb \u5b58 \u5728 \u5c08 \u696d \u6216 \u696d \u52d9 \u95dc \u4fc2 \u800c \u63a5 \u89f8 \u5230 \u6709 \u95dc \u6d88 \u606f \u7684 \u4eba \u58eb \uff1b \u53ca \u5982 \u6709 \u95dc \u6d88 \u606f \u8207 \u8a72 \u516c \u53f8 \u548c \u53e6 \u4e00 \u516c \u53f8 \u7684 \u4ea4 \u6613 \u6709 \u806f \u7e6b \uff0c \u5247 \u6307 \u53e6 \u4e00 \u6cd5 \u5718 \u7684 \u95dc \u9023 \u4eba \u58eb \u3002 <\/font><\/div>\n
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(3)         <\/span>\u53ef \u80fd \u4e4b \u7b54 \u8faf \ufe30 <\/font><\/div>\n
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–         <\/span>\u5167 \u5e55 \u4ea4 \u6613 \u4e0d \u662f \u4ee5 \u7372 \u5229 \u6216 \u907f \u514d \u8667 \u640d \u70ba \u76ee \u7684 \uff1b <\/font><\/div>\n
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–         <\/span>\u5167 \u5e55 \u4ea4 \u6613 \u8005 \u662f \u4ee5 \u4ee3 \u7406 \u4eba \u8eab \u5206 \u884c \u4e8b \uff0c \u4e26 \u7121 \u63c0 \u9078 \u4e0a \u5e02 \u8b49 \u5238 \u6216 \u884d \u751f \u5de5 \u5177 \uff0c \u6216 \u5c31 \u63c0 \u9078 \u4e0a \u5e02 \u8b49 \u5238 \u6216 \u884d \u751f \u5de5 \u5177 \u63d0 \u4f9b \u610f \u898b \uff0c \u4e14 \u4e0d \u77e5 \u9053 \u5176 \u59d4 \u8a17 \u4eba \u662f \u95dc \u9023 \u4eba \u58eb \u6216 \u638c \u63e1 \u6709 \u95dc \u6d88 \u606f \uff1b <\/font><\/div>\n
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–         <\/span>\u8a72 \u4ea4 \u6613 \u5c6c \u65bc \u4e00 \u9805 \u5e02 \u5834 \u5408 \u7d04 \uff1b <\/font><\/div>\n
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–         <\/span>\u5728 \u4ecb \u7d39 \u67d0 \u4eba \u8207 \u5927 \u80a1 \u6771 \u9032 \u884c \u4ea4 \u6613 \u6642 \uff0c \u8a72 \u4eba \u77e5 \u9053 \u6216 \u7406 \u61c9 \u77e5 \u9053 \u4ea4 \u6613 \u7684 \u5c0d \u65b9 \u662f \u5927 \u80a1 \u6771 \uff1b \u53ca <\/font><\/div>\n
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\u67d0 \u4eba \u53ea \u77e5 \u6089 \u672c \u8eab \u7684 \u4ea4 \u6613 \u6d3b \u52d5 \u800c \u8a72 \u7b49 \u6d3b \u52d5 \u662f \u70ba \u4e86 \u4fc3 \u6210 \u5176 \u4ed6 \u4ea4 \u6613 \ufe5d \u4f8b \u5982 \ufe30 \u7d93 \u7d00 \u5354 \u52a9 \u67d0 \u4eba \u8fa6 \u7406 \u6536 \u8cfc \u4e8b \u5b9c \uff0c \u800c \u5546 \u4eba \u9280 \u884c \u70ba \u8a72 \u6d3b \u52d5 \u5c0d \u6c96 \u98a8 \u96aa \ufe5e \u3002 <\/font><\/div>\n
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\u6700 \u8fd1 \u672c \u5730 \u80a1 \u5e02 \u4ea6 \u66a2 \u65fa \uff0c \u6295 \u8eab \u80a1 \u58c7 \u8005 \u4e0d \u52dd \u5176 \u6578 \uff0c \u7b46 \u8005 \u5e0c \u671b \u6295 \u8cc7 \u8005 \u5207 \u52ff \u8aa4 \u4fe1 \u670b \u53cb \u4e4b \u6240 \u8b02 \u7368 \u5bb6 \u6d88 \u606f \u800c \u9032 \u884c \u80a1 \u7968 \u8cb7 \u8ce3 \uff0c \u4ee5 \u514d \u58ae \u5165 “ \u5167 \u5e55 \u4ea4 \u6613 ” \u884c \u5f91 \u800c \u906d \u76e3 \u7ba1 \u6a5f \u69cb \u67e5 \u554f \uff0c \u751a \u6216 \u8d77 \u8a34 \u3002<\/font><\/div>\n
 <\/font><\/div>\n<\/p>\n<\/p>\n<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

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