{"id":604961,"date":"2025-11-19T23:33:17","date_gmt":"2025-11-20T07:33:17","guid":{"rendered":"https:\/\/nai500.com\/blog\/2025\/11\/the-small-cap-slump-five-reasons-why-us-small-stocks-keep-lagging-behind\/"},"modified":"2025-11-19T23:33:43","modified_gmt":"2025-11-20T07:33:43","slug":"%e7%be%8e%e8%82%a1%e5%b0%8f%e7%9b%a4%e8%82%a1%e7%9c%9f%e7%9a%84%e6%bc%b2%e4%b8%8d%e5%8b%95%e4%ba%86%ef%bc%9f%e4%ba%94%e5%a4%a7%e7%99%a5%e7%b5%90%e8%a7%a3%e6%9e%90%e8%b7%91%e4%b8%8d%e8%b4%8f","status":"publish","type":"post","link":"https:\/\/nai500.com\/zh-hant\/blog\/2025\/11\/%e7%be%8e%e8%82%a1%e5%b0%8f%e7%9b%a4%e8%82%a1%e7%9c%9f%e7%9a%84%e6%bc%b2%e4%b8%8d%e5%8b%95%e4%ba%86%ef%bc%9f%e4%ba%94%e5%a4%a7%e7%99%a5%e7%b5%90%e8%a7%a3%e6%9e%90%e8%b7%91%e4%b8%8d%e8%b4%8f\/","title":{"rendered":"\u7f8e\u80a1\u5c0f\u76e4\u80a1\u771f\u7684\u6f32\u4e0d\u52d5\u4e86\uff1f\u4e94\u5927\u7665\u7d50\u89e3\u6790\u201c\u8dd1\u4e0d\u8d0f\u201d\u9b54\u5492"},"content":{"rendered":"

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\u96a8\u8457\u7f8e\u806f\u5132\u4e3b\u5e2d\u9b91\u5a01\u723e\u7b49\u5b98\u54e1\u8fd1\u671f\u5c0d\u964d\u606f\u8868\u614b\u8b39\u614e\uff0c\u5e02\u5834\u9810\u671f\u53d7\u632b\uff0c\u76f4\u63a5\u6f86\u6ec5\u4e86\u63a8\u52d5\u5c0f\u76e4\u80a1\u53cd\u5f48\u7684\u91cd\u8981\u52d5\u529b\u3002<\/p>\n

\u7665\u7d50\u4e8c\uff1aIPO\u201c\u65b7\u6d41\u201d\uff0c\u512a\u8cea\u516c\u53f8\u4e0a\u5e02\u5373\u201c\u6210\u5e74\u201d<\/h2>\n

\u904e\u53bb\uff0c\u6295\u8cc7\u5c0f\u76e4\u80a1\u662f\u5206\u4eab\u660e\u661f\u516c\u53f8\u65e9\u671f\u6210\u9577\u7d05\u5229\u7684\u91cd\u8981\u9014\u5f91\u3002\u4f46\u5982\u4eca\uff0c\u9019\u4e00\u908f\u8f2f\u6b63\u5728\u74e6\u89e3\u3002\u98a8\u96aa\u6295\u8cc7\u548c\u79c1\u52df\u5e02\u5834\u7684\u7e41\u69ae\uff0c\u4f7f\u5f97\u6700\u5177\u6f5b\u529b\u7684\u79d1\u6280\u516c\u53f8\u9078\u64c7\u9577\u671f\u4fdd\u6301\u79c1\u6709\u3002<\/p>\n

Renaissance Capital\u9ad8\u7d1a\u7b56\u7565\u5e2bMatthew Kennedy\u6307\u51fa\uff0c\u4f01\u696d\u4e0a\u5e02\u7b49\u5f85\u6642\u9593\u660e\u986f\u8b8a\u9577\uff0c\u5c0f\u76e4\u80a1\u79d1\u6280IPO\u5df2\u5e7e\u4e4e\u7d55\u8de1\u3002\u5341\u5e74\u524d\uff0c\u7d55\u5927\u591a\u6578\u98a8\u6295\u652f\u6301\u7684\u79d1\u6280\u516c\u53f8\u4e0a\u5e02\u6642\u5e02\u503c\u4ecd\u4f4e\u65bc10\u5104\u7f8e\u5143\uff0c\u4f46\u73fe\u5728\u60c5\u6cc1\u5b8c\u5168\u4e0d\u540c\u3002\u9019\u610f\u5473\u8457\uff0c\u7576\u9019\u4e9b\u516c\u53f8\u6700\u7d42\u4e0a\u5e02\u6642\uff0c\u5df2\u76f4\u63a5\u8df3\u904e\u5c0f\u76e4\u80a1\u968e\u6bb5\uff0c\u6295\u8cc7\u8005\u7121\u6cd5\u5728\u65e9\u671f\u53c3\u8207\u589e\u9577\u3002<\/p>\n

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\u4e0d\u50c5\u65b0\u8840\u6ce8\u5165\u56f0\u96e3\uff0c\u6307\u6578\u5167\u90e8\u7684\u65b0\u9673\u4ee3\u8b1d\u4e5f\u5728\u653e\u7de9\u3002FTSE Russell\u7684\u5206\u6790\u986f\u793a\uff0c\u5f9e\u7f85\u7d202000\u5c0f\u76e4\u80a1\u6307\u6578\u201c\u7562\u696d\u201d\u9032\u5165\u7f85\u7d201000\u5927\u76e4\u80a1\u6307\u6578\u7684\u516c\u53f8\u6578\u91cf\uff0c\u5f9e2015\u5e74\u768428\u5bb6\u964d\u81f3\u4eca\u5e74\u7684\u50c520\u5bb6\u3002\u8207\u6b64\u540c\u6642\uff0c\u7f85\u7d202000\u6210\u5206\u80a1\u7684\u5e73\u5747\u4e0a\u5e02\u5e74\u9650\u81ea2008\u5e74\u4ee5\u4f86\u589e\u52a0\u4e86\u8fd1\u4e09\u5e74\u3002\u6307\u6578\u201c\u8001\u9f61\u5316\u201d\u8da8\u52e2\u660e\u986f\uff0c\u6d3b\u529b\u4e0d\u8db3\uff0c\u7f3a\u4e4f\u80fd\u5920\u5feb\u901f\u6210\u9577\u4e26\u6649\u5347\u7684\u7684\u65b0\u751f\u529b\u91cf\u3002<\/p>\n

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Touchstone Investments\u7684\u5168\u7403\u5e02\u5834\u7b56\u7565\u5e2bCrit Thomas\u89e3\u91cb\u9053\uff0c\u5c0f\u76e4\u80a1\u904e\u53bb\u901a\u5e38\u4eab\u6709\u4f30\u503c\u6ea2\u50f9\uff0c\u4f46\u9019\u5df2\u591a\u5e74\u4e0d\u5fa9\u5b58\u5728\u3002\u554f\u984c\u7684\u6838\u5fc3\u5728\u65bc\u76c8\u5229\u80fd\u529b\u3002\u7f85\u7d202000\u6307\u6578\u5145\u65a5\u8457\u5927\u91cf\u672a\u76c8\u5229\u6216\u5fae\u5229\u516c\u53f8\uff0c\u5c0e\u81f4\u6574\u9ad4\u5e02\u76c8\u7387\u7578\u9ad8\u3002\u6578\u64da\u986f\u793a\uff0c\u6a19\u666e500\u7684\u8cc7\u672c\u56de\u5831\u7387\u8d85\u904e8%\uff0c\u800c\u7f85\u7d202000\u50c50.1%\uff0c\u5de8\u5927\u7684\u76c8\u5229\u9d3b\u6e9d\u4f7f\u5176\u96e3\u4ee5\u5275\u9020\u771f\u5be6\u50f9\u503c\u3002<\/p>\n

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\u5118\u7ba1\u56f0\u5883\u91cd\u91cd\uff0c\u5e02\u5834\u5c0d\u5c0f\u76e4\u80a1\u4ecd\u672a\u5b8c\u5168\u7d55\u671b\u3002\u83ef\u723e\u8857\u5206\u6790\u5e2b\u9810\u8a08\uff0c\u5728\u7f8e\u806f\u5132\u7a69\u6b65\u964d\u606f\u7684\u7d93\u6fdf\u80cc\u666f\u4e0b\uff0c\u5c0f\u76e4\u80a1\u516c\u53f82026\u5e74\u76c8\u5229\u6709\u671b\u5be6\u73fe\u9ad8\u905459%\u7684\u5f37\u52c1\u589e\u9577\u3002\u9ad8\u76db\u4e5f\u6307\u51fa\u4e86\u9019\u4e00\u6a02\u89c0\u9810\u671f\u3002Royce Investment Partners\u7684\u6295\u8cc7\u7d44\u5408\u7d93\u7406Chip Skinner\u4e26\u4e0d\u8a8d\u70ba\u5c0f\u76e4\u80a1\u6c38\u7121\u7ffb\u8eab\u4e4b\u65e5\u3002\u6295\u8cc7\u8005\u5728\u9019\u4e00\u9818\u57df\u627f\u64d4\u4e86\u66f4\u9ad8\u98a8\u96aa\uff0c\u7406\u61c9\u7372\u5f97\u66f4\u9ad8\u56de\u5831\u3002\u7136\u800c\uff0c\u9019\u80fd\u5426\u514c\u73fe\u70ba\u6301\u7e8c\u7684\u9577\u671f\u8d85\u984d\u6536\u76ca\uff0c\u800c\u975e\u66c7\u82b1\u4e00\u73fe\u7684\u53cd\u5f48\uff0c\u4ecd\u662f\u61f8\u800c\u672a\u6c7a\u7684\u6838\u5fc3\u554f\u984c\u3002<\/p>\n","protected":false},"excerpt":{"rendered":"

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