\u6295\u8cc7\u4eba\u4f4e\u8a9e\u8457\u6ce1\u6cab\uff0c\u537b\u884c\u70ba\u5982\u540c\u6551\u63f4\u5df2\u88ab\u4e8b\u5148\u8cc7\u52a9\u3002\u4ed6\u5011\u8aaa\uff0c\u5982\u679c\u5c40\u52e2\u8b8a\u7cdf\uff0c\u9a0e\u5175\u6703\u5230\u4f86\u3002\u9019\u7a2e\u671f\u5f85\u5982\u4eca\u6210\u70ba\u5e02\u5834\u4e2d\u6700\u5371\u96aa\u7684\u4ea4\u6613\u3002\u8106\u5f31\u6027\u4e0d\u6703\u81ea\u6211\u5ba3\u544a\u3002\u5b83\u4ee5\u7fd2\u6163\u8207\u5047\u8a2d\u7121\u5f62\u5730\u7d2f\u7a4d\u3002<\/p>\n
\u73fe\u4ee3\u7684\u5e02\u5834\u8a08\u756b\u5f88\u7c21\u55ae\uff1a\u5ef6\u9577\u98a8\u96aa\u3001\u6536\u5272\u5229\u5dee\uff0c\u4ee5\u53ca\u5728\u9031\u671f\u8f49\u6298\u6642\u4f9d\u8cf4\u4e2d\u592e\u9280\u884c\u3002\u9019\u5957\u505a\u6cd5\u66fe\u591a\u6b21\u594f\u6548\uff0c\u8db3\u4ee5\u8b93\u4eba\u89ba\u5f97\u50cf\u662f\u653f\u7b56\u3002\u5f9e 1998 \u5e74\u7684 LTCM \u5584\u5f8c\uff0c\u5230 2008 \u5e74\u5f8c\u7684\u653f\u7b56\u5eab\u5b58\uff0c\u518d\u5230\u75ab\u60c5\u6642\u7684\u5f8c\u76fe\uff0c\u9019\u5957\u5287\u672c\u5f88\u719f\u6089\u3002\u4f46\u9019\u4e0d\u662f\u4fdd\u96aa\uff1b\u9019\u662f\u8def\u5f91\u4f9d\u8cf4\u3002\u653f\u7b56\u51fa\u552e\u7684\u9078\u64c7\u6b0a\u662f\u4e00\u9805\u6709\u689d\u4ef6\u7684\u5de5\u5177\uff0c\u4e0d\u662f\u4fdd\u8b49\u3002\u901a\u81a8\u98a8\u96aa\u3001\u653f\u6cbb\u58d3\u529b\u8207\u8cc7\u7522\u8ca0\u50b5\u8868\u9650\u5236\u90fd\u53ef\u80fd\u5ef6\u7de9\u6216\u524a\u5f31\u56de\u61c9\u3002\u6295\u8cc7\u4eba\u6b63\u4ee5\u6a19\u6e96\u5408\u7d04\u822c\u7684\u65b9\u5f0f\u70ba\u4e0b\u4e00\u6b21\u6551\u63f4\u5b9a\u50f9\uff0c\u4f46\u5b83\u4e26\u975e\u5982\u6b64\u3002\u7576\u4f60\u7684\u8ad6\u9ede\u9700\u8981\u4f60\u7121\u6cd5\u6307\u63ee\u7684\u9a0e\u5175\u6642\uff0c\u4f60\u64c1\u6709\u7684\u662f\u4e00\u9805\u507d\u88dd\u6210\u8a08\u756b\u7684\u8ca0\u50b5\u3002<\/p>\n
\u8fd1\u671f\u570d\u7e5e\u65b0\u4e0a\u5e02\u8207\u71b1\u9580\u540d\u7a31\u7684\u4ea4\u6613\u6fc0\u589e\uff0c\u4e26\u975e\u5065\u5eb7\u7684\u6df1\u5ea6\uff1b\u800c\u662f\u53cd\u5c04\u6027\u6295\u6a5f\u3002\u9078\u64c7\u6b0a\u90e8\u9580\u56de\u5831\u5927\u91cf\u8cb7\u9032\u8cb7\u6b0a\u8207\u7576\u65e5\u5951\u7d04\u6210\u70ba\u4e3b\u6d41\u8cc7\u91d1\u6d41\u3002\u9019\u6703\u8feb\u4f7f\u4ea4\u6613\u5546\u8ffd\u50f9\u4e0a\u63da\uff0c\u770b\u8d77\u4f86\u50cf\u9700\u6c42\uff0c\u76f4\u5230\u5b83\u6d88\u5931\u70ba\u6b62\u3002\u9ad8\u8c9d\u5854 IPO \u5728\u4e00\u6ce2\u9078\u64c7\u6b0a\u6d3b\u52d5\u63a8\u5347\u5f8c\u53c8\u56de\u6a94\uff0c\u9019\u4e0d\u662f\u751f\u7522\u529b\uff1b\u9019\u662f\u4e00\u5834\u8a0a\u865f\u904a\u6232\u3002\u5b83\u5438\u5f15\u6a21\u4eff\u8005\uff0c\u4e26\u628a\u8010\u5fc3\u91cd\u65b0\u5b9a\u50f9\u70ba\u5929\u771f\u3002\u9019\u5c31\u662f\u665a\u9031\u671f\u6d41\u52d5\u6027\uff1a\u63d0\u9ad8\u5be6\u73fe\u6ce2\u52d5\u4e26\u64e0\u6eff\u51fa\u53e3\u7684\u6d3b\u52d5\u3002\u7576\u908a\u969b\u8cb7\u65b9\u662f\u88ab gamma \u9a45\u52d5\u7684\u885d\u52d5\uff0c\u800c\u975e\u73fe\u91d1\u6d41\u5206\u6790\u5e2b\uff0c\u50f9\u683c\u5c31\u6210\u70ba\u6301\u5009\u4f4d\u7f6e\u7684\u8b8a\u6578\uff0c\u800c\u975e\u50f9\u503c\u3002<\/p>\n
\u6ce1\u6cab\u4e0d\u662f\u95dc\u65bc\u55ae\u4e00\u80a1\u7968\u4ee3\u865f\u3002\u5b83\u662f\u95dc\u65bc\u7cfb\u7d71\u6027\u5b9a\u50f9\u3002\u5728\u9577\u9031\u671f\u6307\u6a19\u4e0a\uff0c\u7f8e\u80a1\u4ee5\u6b77\u53f2\u6a19\u6e96\u4f86\u770b\u504f\u9ad8\uff0c\u5229\u6f64\u7387\u63a5\u8fd1\u9ad8\u9ede\uff0c\u800c\u9818\u5c0e\u7fa4\u9ad4\u627f\u64d4\u6108\u4f86\u6108\u591a\u7684\u6307\u6578\u6b0a\u91cd\u3002\u9019\u4e0d\u80fd\u6c7a\u5b9a\u9802\u9ede\u7684\u65e5\u671f\uff0c\u4f46\u6703\u58d3\u7e2e\u672a\u4f86\u5831\u916c\u3002\u57fa\u6e96\u5229\u7387\u5f88\u91cd\u8981\u3002\u9577\u671f\u4f86\u770b\uff0c\u9ad8\u8d77\u59cb\u500d\u6578\u610f\u5473\u8457\u8f03\u4f4e\u7684\u5be6\u8cea\u5831\u916c\u8207\u8f03\u539a\u7684\u5de6\u5c3e\u98a8\u96aa\u3002\u6295\u8cc7\u4eba\u5e38\u4ee5 AI\u3001\u898f\u6a21\u7d93\u6fdf\u8207\u73fe\u91d1\u5806\u7a4d\u4f86\u70ba\u96c6\u4e2d\u5316\u8faf\u8b77\uff0c\u4f46\u4ed6\u5011\u7d93\u5e38\u5ffd\u7565\u56de\u6b78\u7684\u6578\u5b78\u3002\u5373\u4fbf\u662f\u8edf\u8457\u9678\uff0c\u4e5f\u7121\u6cd5\u5ee2\u9664\u4f30\u503c\u7684\u91cd\u529b\u3002\u5b83\u628a\u8ca0\u64d4\u8f49\u79fb\u5230\u76c8\u9918\uff0c\u76c8\u9918\u662f\u9031\u671f\u6027\u7684\uff0c\u4ee5\u53ca\u6298\u73fe\u7387\uff0c\u800c\u6298\u73fe\u7387\u4e0d\u518d\u662f\u96f6\u3002\u62bc\u6ce8\u500d\u6578\u81ea\u5df2\u5df2\u504f\u9ad8\u7684\u57fa\u790e\u4e0a\u6301\u7e8c\u64f4\u5f35\uff0c\u4e26\u975e\u6a02\u89c0\u3002\u90a3\u662f\u5c0d\u60c5\u7dd2\u7684\u69d3\u687f\u3002<\/p>\n
\u628a\u653f\u7b56\u5e72\u9810\u7576\u6210\u5e38\u8a2d\u547d\u4ee4\u6703\u626d\u66f2\u4f01\u696d\u8ca1\u52d9\u3002\u5b83\u9f13\u52f5\u6b96\u5229\u671f\u98a8\u96aa\u3001\u8584\u5f31\u7de9\u885d\uff0c\u4ee5\u53ca\u6efe\u52d5\u98a8\u96aa\u5df2\u6d88\u5931\u7684\u932f\u89ba\u3002\u7136\u800c\uff0c\u518d\u878d\u8cc7\u7684\u7246\u58c1\u662f\u5b58\u5728\u7684\u3002\u79c1\u4eba\u4fe1\u8cb8\u5df2\u6210\u70ba\u4e00\u500b\u6e1b\u9707\u5668\uff0c\u4f46\u5b83\u4e5f\u4e0d\u900f\u660e\u4e14\u5177\u9806\u9031\u671f\u6027\u3002\u5546\u7528\u623f\u5730\u7522\u5728\u8cc7\u672c\u6210\u672c\u4e0a\u5347\u4e4b\u969b\u9762\u81e8\u4f30\u503c\u7f3a\u53e3\u3002\u53d7\u60e0\u65bc\u5ec9\u50f9\u8cc7\u91d1\u7684\u6700\u5f31\u501f\u6b3e\u4eba\u73fe\u5728\u9762\u81e8\u8f03\u9ad8\u7684\u7968\u606f\u8207\u66f4\u7dca\u7684\u689d\u6b3e\u3002\u6bad\u5c4d\u4f01\u696d\u53ef\u4ee5\u62d6\u5ef6\u5b58\u5728\uff0c\u4f46\u5b83\u5011\u6d88\u8017\u6d41\u52d5\u6027\u4e26\u524a\u5f31\u50f9\u683c\u7684\u8a0a\u865f\u3002\u5e02\u5834\u770b\u4f3c\u5e73\u975c\uff0c\u76f4\u5230\u4e00\u500b\u5c0f\u9707\u9a5a\u63ed\u793a\u8ab0\u9700\u8981\u5f8c\u76fe\u624d\u80fd\u904b\u4f5c\u3002\u58d3\u5236\u8a31\u591a\u5c0f\u706b\u6703\u7d2f\u7a4d\u53ef\u71c3\u7269\u3002\u68ee\u6797\u7ba1\u7406\u5f9e\u4e2d\u5b78\u5230\u6559\u8a13\u3002\u5e02\u5834\u4ecd\u504f\u597d\u5feb\u901f\u7684\u6c34\u69cd\u3002<\/p>\n
\u5e02\u5834\u662f\u4e00\u500b\u4ee5\u5171\u540c\u77e5\u8b58\u5efa\u7acb\u7684\u5354\u8abf\u904a\u6232\u3002\u5982\u679c\u4eba\u4eba\u76f8\u4fe1\u4e2d\u592e\u9280\u884c\u6703\u5728\u53ef\u9810\u6e2c\u7684\u56de\u64a4\u5e45\u5ea6\u6551\u52a9\u98a8\u96aa\u8cc7\u7522\uff0c\u69d3\u687f\u5c31\u6703\u4e0a\u5347\uff0c\u76f4\u5230\u56de\u64a4\u8b8a\u5f97\u5728\u653f\u6cbb\u6216\u901a\u81a8\u4e0a\u4e0d\u53ef\u63a5\u53d7\u3002\u9019\u662f\u4e00\u500b\u6096\u8ad6\u3002\u5c0d\u8a72\u4fdd\u8b77\u4f9d\u8cf4\u8d8a\u5927\uff0c\u5b83\u5c31\u8d8a\u4e0d\u53ef\u7528\u3002Fed \u4e26\u4e0d\u4ee5\u80a1\u50f9\u70ba\u76ee\u6a19\uff1b\u5b83\u4ee5\u91d1\u878d\u689d\u4ef6\u70ba\u76ee\u6a19\uff0c\u4e26\u95dc\u6ce8\u901a\u81a8\u8207\u5c31\u696d\u3002\u5728\u4e00\u500b\u901a\u81a8\u5316\u9ad4\u5236\u4e2d\uff0c\u652f\u63f4\u8f03\u6162\u4e14\u8f03\u4e0d\u6177\u6168\u3002\u5728\u4e00\u500b\u901a\u7e2e\u5316\u885d\u64ca\u4e2d\uff0c\u652f\u63f4\u5247\u8f03\u5feb\u3002\u4eca\u5929\u8655\u65bc\u5169\u8005\u4e4b\u9593\u3002\u9019\u7a2e\u6a21\u7cca\u6027\u6c92\u6709\u88ab\u5b9a\u50f9\u3002\u7528\u535a\u5f08\u8ad6\u4f86\u8aaa\uff0c\u5c0d\u6551\u63f4\u7684\u64c1\u64e0\u9810\u671f\u4f7f\u8a72\u9078\u64c7\u6b0a\u6210\u70ba\u4e00\u500b\u8584\u5f31\u7684\u7126\u9ede\u3002\u4ee5\u5b83\u70ba\u9328\u7684\u6295\u8cc7\u4eba\u6703\u767c\u73fe\uff0c\u4ed6\u5011\u5728\u73a9\u300c\u81bd\u5c0f\u9b3c\u300d\u904a\u6232\uff0c\u800c\u653f\u7b56\u5236\u5b9a\u8005\u5df2\u8f49\u4e0a\u53e6\u4e00\u689d\u8def\u3002<\/p>\n
\u5e02\u5834\u5fae\u7d50\u69cb\u5df2\u6539\u8b8a\u3002\u96f6\u65e5\u9078\u64c7\u6b0a\u5c07\u98a8\u96aa\u96c6\u4e2d\u5728\u77ed\u6642\u9593\u5167\u3002\u88ab\u52d5\u5de5\u5177\u6309\u898f\u5247\u628a\u8cc7\u91d1\u9001\u5230\u8d0f\u5bb6\u3002\u4e00\u500b\u72f9\u7a84\u7684\u9818\u5c0e\u7fa4\u9ad4\u627f\u64d4\u6307\u6578\u66f4\u591a\u7684\u627f\u91cd\u89d2\u8272\u3002\u9019\u653e\u5927\u4e86\u56de\u994b\u5faa\u74b0\u3002\u50cf\u4e00\u5ea7\u5728\u540c\u6b65\u6b65\u4f10\u4e0b\u64fa\u52d5\u7684\u6a4b\uff0c\u4e3b\u5c0e\u76f8\u540c\u884c\u70ba\u7684\u5e02\u5834\u6703\u5c0d\u5c0f\u9707\u9a5a\u8b8a\u5f97\u654f\u611f\u3002\u9078\u64c7\u6b0a\u907f\u96aa\u6703\u5728\u4e0a\u884c\u6642\u9020\u6210\u88ab\u8feb\u8cb7\u9032\uff0c\u5728\u4e0b\u884c\u6642\u9020\u6210\u88ab\u8feb\u8ce3\u51fa\u3002\u88ab\u52d5\u56e0\u70ba\u5fc5\u9808\u8ce3\u51fa\uff0c\u800c\u4e0d\u662f\u56e0\u70ba\u5b83\u8a8d\u70ba\u61c9\u8ce3\u3002\u6d41\u52d5\u6027\u770b\u4f3c\u6df1\u539a\uff0c\u76f4\u5230\u50f9\u683c\u8d70\u5f97\u5920\u9060\u64ca\u4e2d\u7a7a\u6c23\u56ca\u3002\u9019\u4e9b\u90fd\u4e0d\u9055\u6cd5\uff0c\u4e5f\u4e0d\u898b\u5f97\u975e\u7406\u6027\u3002\u53ea\u662f\u8106\u5f31\u3002\u7576\u7cfb\u7d71\u7684\u7a69\u5b9a\u4f9d\u8cf4\u65bc\u4e0d\u65b7\u7684\u963b\u5c3c\u6642\uff0c\u82e5\u6a21\u578b\u628a\u5171\u632f\u7576\u6210\u566a\u97f3\uff0c\u5c31\u5225\u5c0d\u5171\u632f\u51fa\u73fe\u611f\u5230\u9a5a\u8a1d\u3002<\/p>\n
\u6b77\u53f2\u4e0d\u662f\u5287\u672c\uff0c\u4f46\u5b83\u63d0\u4f9b\u57fa\u6e96\u7387\u3002\u91cd\u5927\u80a1\u5e02\u56de\u64a4\u4e26\u4e0d\u7f55\u898b\u3002\u50cf 1987 \u5e74\u90a3\u985e\u55ae\u65e5\u7a7a\u6c23\u56ca\u6703\u5728\u6c92\u6709\u6574\u9f4a\u5b8f\u89c0\u6a19\u984c\u7684\u60c5\u6cc1\u4e0b\u767c\u751f\u3002\u4fdd\u8b49\u91d1\u8ffd\u7e73\u672c\u8eab\u5c31\u662f\u50ac\u5316\u5291\u3002\u7db2\u8def\u6ce1\u6cab\u6642\u4ee3\u986f\u793a\u51fa\u5049\u5927\u79d1\u6280\u53ef\u4ee5\u8207\u7cdf\u7cd5\u50f9\u683c\u5171\u5b58\u591a\u5e74\u30022009\u20132021 \u5e74\u671f\u9593\u7121\u610f\u4e2d\u6559\u6703\u4e86\u932f\u8aa4\u7684\u6559\u8a13\uff1a\u6bcf\u6b21\u4e0b\u8dcc\u90fd\u662f\u79ae\u7269\u3001\u6bcf\u6b21\u653f\u7b56\u56de\u61c9\u90fd\u5f88\u8fc5\u901f\u3002\u6211\u5011\u73fe\u5728\u9762\u81e8\u4e00\u500b\u6df7\u5408\u9ad4\u5236\uff1a\u670d\u52d9\u696d\u901a\u81a8\u9ecf\u6027\u3001\u4eba\u53e3\u8001\u9f61\u5316\u8207\u66f4\u7dca\u7684\u52de\u52d5\u529b\u5e02\u5834\u3002\u9019\u4e26\u4e0d\u4f7f\u707d\u96e3\u5fc5\u7136\uff0c\u4f46\u964d\u4f4e\u4e86\u6551\u63f4\u7684\u78ba\u5b9a\u6027\u3002\u5982\u679c\u4f60\u7684\u6295\u7d44\u53ea\u80fd\u5728\u826f\u6027\u885d\u64ca\u7684\u4e16\u754c\u4e2d\u5b58\u6d3b\uff0c\u4f60\u64c1\u6709\u7684\u662f\u9810\u6e2c\uff0c\u4e0d\u662f\u8a08\u756b\u3002<\/p>\n
\u6709\u6bd4\u5c0b\u627e\u6ce1\u6cab\u6216\u62bc\u6ce8\u6551\u63f4\u66f4\u597d\u7684\u6846\u67b6\u3002\u4ee5\u8106\u5f31\u6027\u8207\u9078\u64c7\u6b0a\u601d\u8003\u3002\u504f\u597d\u64c1\u6709\u771f\u6b63\u7de9\u885d\u7684\u8cc7\u7522\u8ca0\u50b5\u8868\u3002\u91cd\u8996\u73fe\u91d1\u8f49\u63db\u80fd\u529b\u8207\u5b9a\u50f9\u6b0a\u3002\u907f\u514d\u90a3\u4e9b\u5728\u6ce2\u52d5\u4e0a\u5347\u6216\u6d41\u52d5\u6027\u840e\u7e2e\u6642\u6703\u6b7b\u4ea1\u7684\u7b56\u7565\u3002\u5efa\u7acb\u5197\u9918\uff0c\u8b93\u4f60\u80fd\u5728\u75b2\u5f31\u6642\u52a0\u78bc\u98a8\u96aa\uff0c\u800c\u4e0d\u662f\u70ba\u4e86\u4e00\u5247\u6a19\u984c\u7948\u79b1\u3002\u63a5\u53d7\u5c0f\u5e45\u56de\u64a4\u4ee5\u907f\u514d\u5927\u5e45\u56de\u64a4\u3002\u6700\u91cd\u8981\u7684\u662f\uff0c\u8b93\u5831\u916c\u8207\u653f\u7b56\u6642\u9ede\u812b\u9264\u3002\u672a\u88ab\u5b9a\u50f9\u7684\u98a8\u96aa\u4e0d\u662f\u6ce1\u6cab\u5b58\u5728\uff0c\u800c\u662f\u7cfb\u7d71\u5df2\u7d93\u8abf\u6574\u6210\u628a\u5e72\u9810\u8996\u70ba\u7406\u6240\u7576\u7136\u3002\u90a3\u4e0d\u662f\u907f\u96aa\u3002\u90a3\u662f\u4e00\u7a2e\u7fd2\u6163\u3002\u800c\u7fd2\u6163\u7e3d\u6703\u5728\u6700\u58de\u7684\u6642\u5019\u65b7\u88c2\u3002<\/p>\n","protected":false},"excerpt":{"rendered":"
\u4f9d\u8cf4\u592e\u884c\u6551\u5e02\u8207\u6295\u6a5f\u4ea4\u6613\u7684\u6295\u8cc7\u4eba\uff0c\u5ffd\u8996\u4e86\u5e02\u5834\u8106\u5f31\u6027\uff0c\u7a81\u986f\u6ce1\u6cab\u98a8\u96aa\u3001\u9053\u5fb7\u98a8\u96aa\u8207\u932f\u7f6e\u671f\u5f85\u5728\u8b8a\u52d5\u91d1\u878d\u683c\u5c40\u4e2d\u7684\u96b1\u6182\u3002<\/p>\n","protected":false},"author":52,"featured_media":587487,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[426],"tags":[2165,1122,659],"class_list":["post-599487","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-news-zh-hant","tag--zh-hant","tag-1122","tag-659"],"acf":[],"_links":{"self":[{"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/posts\/599487","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/users\/52"}],"replies":[{"embeddable":true,"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/comments?post=599487"}],"version-history":[{"count":1,"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/posts\/599487\/revisions"}],"predecessor-version":[{"id":599507,"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/posts\/599487\/revisions\/599507"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/media\/587487"}],"wp:attachment":[{"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/media?parent=599487"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/categories?post=599487"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/tags?post=599487"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}