{"id":18,"date":"2017-06-01T14:13:00","date_gmt":"2017-06-01T06:13:00","guid":{"rendered":"https:\/\/blog.roboadvisor.com.tw\/?p=18"},"modified":"2026-10-28T16:19:45","modified_gmt":"2026-10-28T08:19:45","slug":"__trashed-2","status":"publish","type":"post","link":"https:\/\/blog.roboadvisor.com.tw\/?p=18","title":{"rendered":"\u70ba\u4ec0\u9ebc\u8cb7\u80a1\u7968\u7684\u4eba\u7e3d\u662f\u8ce0\u9322\u8005\u5c45\u591a\uff1f\u5982\u4f55\u4e0d\u8ce0\u9322\uff1f"},"content":{"rendered":"<p class=\"wp-block-paragraph\">\u4e0d\u77e5\u9053\u5927\u5bb6\u662f\u5426\u9084\u8a18\u5f97\uff0c2017 \u5e74 2 \u6708\u6709\u4e00\u5247\u4ee4\u4eba\u9f3b\u9178\u7684\u793e\u6703\u65b0\u805e\uff0c\u4e00\u4f4d 40 \u4f86\u6b72\u7684\u7236\u89aa\u5e36\u8457\u4e09\u540d\u5341\u591a\u6b72\u7684\u5b50\u5973\u8f15\u751f\uff0c\u539f\u672c\u5e78\u798f\u7684\u5bb6\u5ead\u9084\u4f86\u4e0d\u53ca\u4eab\u53d7\u4eba\u751f\u5c31\u8d70\u4e86\u3002\u5a92\u9ad4\u5831\u5c0e\uff0c\u539f\u56e0\u7591\u4f3c\u662f\u4ed6\u6c92\u6709\u5de5\u4f5c\u3001\u5728\u5bb6\u7092\u80a1\u7968\u5931\u5229\uff0c\u8ca1\u52d9\u72c0\u6cc1\u4e0d\u4f73\u3002<\/p>\n\n<p class=\"wp-block-paragraph\">\u9019\u6a23\u7684\u65b0\u805e\u6bcf\u9694\u4e00\u9663\u5b50\u5c31\u6703\u51fa\u73fe\u3002\u4f60\u53ef\u80fd\u4e5f\u807d\u904e\u9019\u7a2e\u8aaa\u6cd5\uff1a<\/p>\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u300c10 \u500b\u73a9\u80a1\u7968\u7684\u4eba\u88e1\u9762\uff0c\u6709 7 \u500b\u662f\u8ce0\u9322\u7684\uff0c2 \u500b\u4e0d\u8cfa\u4e0d\u8ce0\uff0c\u6709\u8cfa\u9322\u7684\u53ea\u6709 1 \u500b\u3002\u300d<\/p>\n<\/blockquote>\n\n<p class=\"wp-block-paragraph\">\u76f8\u4fe1\u5f88\u591a\u4eba\u5468\u906d\u90fd\u6709\u670b\u53cb\u8cb7\u80a1\u7968\u8ce0\u9322\uff0c\u6216\u8005\u81ea\u5df1\u5c31\u6709\u4e0d\u5c11\u9019\u7a2e\u7d93\u9a57\u3002\u5176\u5be6\u6295\u8cc7\u500b\u80a1\u672c\u4f86\u5c31\u662f\u4e00\u500b\u8ce0\u9322\u6a5f\u7387\u6bd4\u8f03\u9ad8\u7684\u884c\u70ba\uff0c\u70ba\u4ec0\u9ebc\u5462\uff1f<\/p>\n\n<p class=\"wp-block-paragraph\">\u9053\u7406\u5f88\u7c21\u55ae\uff0c\u56e0\u70ba\u80a1\u5e02\u4e2d\u4e00\u76f4\u90fd\u662f\u5c11\u6578\u7684\u80a1\u7968\u5728\u5275\u9020\u591a\u6578\u7684\u7372\u5229\uff0c\u9019\u5f88\u50cf\u5927\u5bb6\u719f\u6089\u7684 80\/20 \u6cd5\u5247\uff0c80% \u7684\u7372\u5229\u53ea\u4f86\u81ea 20% \u7684\u80a1\u7968\u3002\u4e5f\u5c31\u662f\u8aaa\uff0c\u5927\u591a\u6578\u80a1\u7968\u7684\u6295\u8cc7\u5831\u916c\u7387\u4e26\u4e0d\u597d\uff0c\u60f3\u8981\u6709\u597d\u7684\u5831\u916c\uff0c\u5c31\u5fc5\u9808\u6311\u5230\u90a3\u5c11\u6578\u7684\u80a1\u7968\uff0c\u554f\u984c\u662f\u8981\u505a\u5230\u9019\u4ef6\u4e8b\u7684\u96e3\u5ea6\u975e\u5e38\u9ad8\uff0c\u7d55\u5927\u591a\u6578\u7684\u6295\u8cc7\u4eba\u4e26\u6c92\u6709\u9019\u7a2e\u6280\u5de7\u3002<\/p>\n\n<h2 class=\"wp-block-heading\">\u7814\u7a76\u986f\u793a\uff1a\u5927\u591a\u6578\u80a1\u7968\u7684\u5831\u916c\u9084\u4e0d\u5982\u570b\u5eab\u5238<\/h2>\n\n<p class=\"wp-block-paragraph\">\u8ca1\u7d93\u8ad6\u8ff0\u4e0d\u80fd\u6191\u611f\u89ba\uff0c\u8981\u6709\u5be6\u969b\u7684\u6839\u64da\u3002<\/p>\n\n<p class=\"wp-block-paragraph\">\u7f8e\u570b\u4e9e\u5229\u6851\u90a3\u5dde\u7acb\u5927\u5b78\uff08Arizona State University\uff09\u8ca1\u91d1\u7cfb\u6559\u6388 Hendrik Bessembinder \u5728 2017 \u5e74\u767c\u8868\u4e00\u7bc7\u7814\u7a76\uff0c\u6a19\u984c\u662f\u300a\u80a1\u7968\u7684\u5831\u916c\u9ad8\u65bc\u570b\u5eab\u5238\u55ce\uff1f\u300b\uff08Do Stocks Outperform Treasury Bills?\uff09\uff0c\u4ed6\u5206\u6790\u4e86\u7f8e\u570b\u80a1\u5e02\u5f9e 1926 \u5e74\u8d77\u7684\u6240\u6709\u500b\u80a1\u8cc7\u6599\uff0c\u5f97\u5230\u5e7e\u500b\u7d50\u8ad6<sup>[1]<\/sup>\uff1a<\/p>\n\n<ol class=\"wp-block-list\">\n<li>\u5927\u591a\u6578\u80a1\u7968\u7684\u6295\u8cc7\u5831\u916c\uff0c\u4f4e\u65bc\u4e00\u500b\u6708\u671f\u570b\u5eab\u5238\uff08\u53ef\u4ee5\u60f3\u6210\u5b58\u6b3e\uff09\u7684\u5831\u916c\u3002<\/li>\n<li>\u9ad8\u9054 58% \u7684\u80a1\u7968\uff0c\u6301\u6709\u671f\u9593\u7684\u5831\u916c\u6bd4\u4e00\u500b\u6708\u671f\u570b\u5eab\u5238\u9084\u4f4e\uff0c\u4e5f\u5c31\u662f\u8aaa\uff0c\u8cb7\u5230\u932f\u7684\u80a1\u7968\uff0c\u5c31\u7b97\u9577\u671f\u6301\u6709\u4e5f\u4e0d\u6703\u8cfa\u9322\u3002<\/li>\n<li>\u7f8e\u570b\u80a1\u5e02\u5f9e 1926 \u5e74\u4ee5\u4f86\u7d2f\u7a4d\u7684\u8ca1\u5bcc\uff0c\u7d55\u5927\u591a\u6578\u662f\u7531\u8868\u73fe\u6700\u597d\u7684 4% \u80a1\u7968\u5275\u9020\u51fa\u4f86\u7684\u3002<\/li>\n<\/ol>\n\n<p class=\"wp-block-paragraph\">\u96d6\u7136\u9019\u985e\u7814\u7a76\u4e4b\u524d\u4e5f\u6709\u4eba\u505a\u904e\uff0c\u4f46\u6bcf\u6b21\u770b\u5230\u9019\u7a2e\u7d50\u679c\u9084\u662f\u6703\u611f\u5230\u9a5a\u8a1d\uff0c\u56e0\u70ba\u9019\u8ddf\u8a31\u591a\u4eba\u7684\u8a8d\u77e5\u5dee\u8ddd\u5f88\u5927\u3002<\/p>\n\n<p class=\"wp-block-paragraph\">\u6211\u5011\u7d93\u5e38\u807d\u5230\u6709\u4eba\u8aaa\uff0c\u5728\u5229\u7387\u9019\u9ebc\u4f4e\u7684\u60c5\u6cc1\u4e0b\uff0c\u60f3\u8981\u63d0\u9ad8\u8ca1\u5bcc\u5c31\u61c9\u8a72\u53bb\u6295\u8cc7\u80a1\u7968\uff0c\u4f46\u9019\u7a2e\u8aaa\u6cd5\u5176\u5be6\u4f3c\u662f\u800c\u975e\u3002\u5982\u679c\u4f60\u6295\u8cc7\u7684\u662f\u500b\u80a1\uff0c\u5f9e\u9019\u4efd\u7814\u7a76\u4f60\u5c31\u77e5\u9053\uff0c\u4f60\u6709\u5c07\u8fd1\u516d\u6210\u7684\u6a5f\u7387\uff0c\u5831\u916c\u9084\u4e0d\u5982\u653e\u5728\u9280\u884c\uff0c\u665a\u4e0a\u9084\u80fd\u7761\u500b\u597d\u89ba\u3002<\/p>\n\n<p class=\"wp-block-paragraph\">\u90a3\u70ba\u4ec0\u9ebc\u540c\u6a23\u662f\u80a1\u7968\uff0c\u6574\u500b\u5e02\u5834\u9577\u671f\u662f\u8cfa\u9322\u7684\uff1f\u56e0\u70ba\u4f60\u8cb7\u4e0b\u6574\u500b\u5e02\u5834\uff0c\u5c31\u4e00\u5b9a\u5305\u542b\u90a3 4% \u7684\u80a1\u7968\u3002\u6240\u4ee5\u300c\u6295\u8cc7\u80a1\u7968\u6bd4\u5b58\u6b3e\u597d\u300d\u9019\u53e5\u8a71\u8981\u6210\u7acb\uff0c\u524d\u63d0\u662f\u4f60\u505a\u597d\u4e00\u500b\u9069\u7576\u4e14\u5206\u6563\u7684\u6295\u8cc7\u7d44\u5408\uff0c\u5305\u62ec\u5168\u7403\u7684\u80a1\u7968\u8207\u50b5\u5238\u3002\u53ea\u8cb7\u5e7e\u5bb6\u516c\u53f8\u7684\u4eba\uff0c\u53ef\u4ee5\u770b\u770b\u3008<a href=\"https:\/\/blog.roboadvisor.com.tw\/?p=16536\">\u82b1\u65d7\u80a1\u50f9\u5d29\u8dcc 98%\uff0c18 \u5e74\u5f8c\u4ecd\u672a\u89e3\u5957<\/a>\u3009\uff0c\u9023\u767e\u5e74\u5927\u9280\u884c\u90fd\u53ef\u80fd\u8b93\u4f60\u7b49\u4e0d\u56de\u4f86\u3002<\/p>\n\n<h2 class=\"wp-block-heading\">\u8cb7\u80a1\u7968\u8ce0\u9322\u7684\u4e94\u500b\u539f\u56e0\u8207\u5c0d\u7b56<\/h2>\n\n<p class=\"wp-block-paragraph\">\u7814\u7a76\u8b1b\u7684\u662f\u6a5f\u7387\uff0c\u843d\u5230\u6bcf\u500b\u4eba\u8eab\u4e0a\uff0c\u8ce0\u9322\u7684\u539f\u56e0\u5927\u81f4\u6709\u4e94\u500b\u3002<\/p>\n\n<h3 class=\"wp-block-heading\">1. \u62bc\u5728\u5c11\u6578\u5e7e\u5bb6\u516c\u53f8<\/h3>\n\n<p class=\"wp-block-paragraph\">\u5f88\u591a\u4eba\u88ab\u5e02\u5834\u7092\u4f5c\u3001\u77ed\u671f\u71b1\u9580\u80a1\u5438\u5f15\uff0c\u628a\u9322\u96c6\u4e2d\u5728\u5e7e\u6a94\u80a1\u7968\u4e0a\uff0c\u6311\u5230\u6c92\u6709\u7af6\u722d\u529b\u7684\u516c\u53f8\uff0c\u5c31\u53ef\u80fd\u4e00\u8def\u88ab\u5e02\u5834\u6dd8\u6c70\u3002<\/p>\n\n<p class=\"wp-block-paragraph\">\u5c0d\u7b56\u662f\u4e0d\u8981\u628a\u6210\u6557\u62bc\u5728\u81ea\u5df1\u6311\u80a1\u7968\u7684\u80fd\u529b\u4e0a\u3002\u5982\u679c\u4f60\u771f\u7684\u8981\u8cb7\u500b\u80a1\uff0c\u81f3\u5c11\u8981\u4e86\u89e3\u516c\u53f8\u6709\u6c92\u6709\u9577\u671f\u7af6\u722d\u512a\u52e2\u3001\u80fd\u4e0d\u80fd\u7a69\u5b9a\u8cfa\u9322\uff1b\u4f46\u5c0d\u591a\u6578\u4e0a\u73ed\u65cf\u4f86\u8aaa\uff0c\u66f4\u5be6\u969b\u7684\u505a\u6cd5\u662f\u7528\u6307\u6578\u578b\u57fa\u91d1\u6216 ETF \u8cb7\u4e0b\u4e00\u6574\u7c43\u80a1\u7968\uff0c\u8b93\u90a3 4% \u7684\u8d0f\u5bb6\u81ea\u7136\u7559\u5728\u4f60\u7684\u7d44\u5408\u88e1\u3002\u6307\u6578\u6295\u8cc7\u70ba\u4ec0\u9ebc\u8aaa\u8d77\u4f86\u5bb9\u6613\u3001\u505a\u8d77\u4f86\u96e3\uff0c\u5728\u3008<a href=\"https:\/\/blog.roboadvisor.com.tw\/?p=1169\">\u6307\u6578\u6295\u8cc7\u662f\u4ec0\u9ebc\uff1f<\/a>\u3009\u6709\u8aaa\u660e\u3002<\/p>\n\n<h3 class=\"wp-block-heading\">2. \u9047\u5230\u53ea\u60f3\u8ce3\u7522\u54c1\u7684\u7406\u8ca1\u9867\u554f<\/h3>\n\n<p class=\"wp-block-paragraph\">\u8a31\u591a\u4eba\u4f9d\u8cf4\u7406\u8ca1\u9867\u554f\u63a8\u85a6\u6295\u8cc7\uff0c\u4f46\u6709\u4e9b\u9867\u554f\u7684\u6536\u5165\u4f86\u81ea\u92b7\u552e\u624b\u7e8c\u8cbb\uff0c\u95dc\u5fc3\u7684\u662f\u4f60\u8cb7\u4e86\u4ec0\u9ebc\uff0c\u800c\u4e0d\u662f\u4f60\u7684\u8ca1\u5bcc\u6709\u6c92\u6709\u6210\u9577\uff0c\u751a\u81f3\u63a8\u85a6\u9ad8\u98a8\u96aa\u3001\u9ad8\u624b\u7e8c\u8cbb\u7684\u7522\u54c1\u3002<\/p>\n\n<p class=\"wp-block-paragraph\">\u5c0d\u7b56\u662f\u5148\u5177\u5099\u57fa\u672c\u7684\u8ca1\u52d9\u77e5\u8b58\uff0c\u4e0d\u8981\u5b8c\u5168\u4f9d\u8cf4\u5225\u4eba\uff1b\u9078\u9867\u554f\u6642\uff0c\u770b\u4ed6\u7684\u6536\u8cbb\u65b9\u5f0f\u662f\u6536\u624b\u7e8c\u8cbb\u9084\u662f\u6536\u7ba1\u7406\u8cbb\uff0c\u6536\u7ba1\u7406\u8cbb\u7684\u9867\u554f\u6bd4\u8f03\u6c92\u6709\u52d5\u6a5f\u8b93\u4f60\u4e00\u76f4\u63db\u7522\u54c1\u3002\u53e6\u4e00\u500b\u9078\u64c7\u662f\u7528\u898f\u5247\u900f\u660e\u7684<a href=\"https:\/\/blog.roboadvisor.com.tw\/?p=5080\">\u6a5f\u5668\u4eba\u7406\u8ca1<\/a>\uff0c\u6e1b\u5c11\u4eba\u70ba\u63a8\u92b7\u7684\u5f71\u97ff\u3002<\/p>\n\n<h3 class=\"wp-block-heading\">3. \u4ed8\u51fa\u904e\u9ad8\u7684\u6210\u672c<\/h3>\n\n<p class=\"wp-block-paragraph\">\u5f88\u591a\u4eba\u6c92\u6709\u6ce8\u610f\u4ea4\u6613\u624b\u7e8c\u8cbb\u3001\u57fa\u91d1\u7ba1\u7406\u8cbb\u548c\u9867\u554f\u8cbb\uff0c\u9019\u4e9b\u6210\u672c\u6bcf\u5e74\u770b\u8d77\u4f86\u4e0d\u591a\uff0c\u9577\u671f\u7d2f\u7a4d\u4e0b\u4f86\u537b\u6703\u56b4\u91cd\u4fb5\u8755\u5831\u916c\u3002<\/p>\n\n<p class=\"wp-block-paragraph\">\u5c0d\u7b56\u662f\u9078\u64c7\u4f4e\u6210\u672c\u7684\u5de5\u5177\uff0c\u4f8b\u5982\u5167\u6263\u8cbb\u7528\u4f4e\u7684 <a href=\"https:\/\/blog.roboadvisor.com.tw\/?p=4881\">ETF<\/a>\uff1b\u6e1b\u5c11\u4ea4\u6613\u6b21\u6578\uff0c\u56e0\u70ba\u6bcf\u6b21\u9032\u51fa\u90fd\u8981\u4ed8\u624b\u7e8c\u8cbb\u548c\u7a05\uff1b\u6bd4\u8f03\u4e0d\u540c\u5238\u5546\u7684\u8cbb\u7387\u3002<\/p>\n\n<h3 class=\"wp-block-heading\">4. \u53ea\u6ce8\u91cd\u77ed\u671f<\/h3>\n\n<p class=\"wp-block-paragraph\">\u8a31\u591a\u6295\u8cc7\u4eba\u904e\u5ea6\u95dc\u6ce8\u6bcf\u5929\u7684\u80a1\u50f9\uff0c\u88ab\u5e02\u5834\u60c5\u7dd2\u727d\u8457\u8d70\uff0c\u4e0d\u65b7\u8ffd\u9ad8\u6bba\u4f4e\uff0c\u8cc7\u7522\u5c31\u9019\u6a23\u7e2e\u6c34\u4e86\u3002<\/p>\n\n<p class=\"wp-block-paragraph\">\u5c0d\u7b56\u662f\u5efa\u7acb\u9577\u671f\u6295\u8cc7\u7684\u5fc3\u614b\uff0c\u5e02\u5834\u77ed\u671f\u7684\u6ce2\u52d5\u662f\u5e38\u614b\uff1b\u6bcf\u500b\u6708\u56fa\u5b9a\u6295\u5165\u4e00\u7b46\u9322\u7684\u5b9a\u671f\u5b9a\u984d\uff0c\u53ef\u4ee5\u964d\u4f4e\u6311\u9032\u5834\u6642\u6a5f\u7684\u58d3\u529b\u3002<\/p>\n\n<h3 class=\"wp-block-heading\">5. \u8cb7\u5230\u8ca0\u50b5\u592a\u9ad8\u7684\u516c\u53f8<\/h3>\n\n<p class=\"wp-block-paragraph\">\u8ca0\u50b5\u904e\u9ad8\u7684\u516c\u53f8\uff0c\u5728\u5229\u7387\u4e0a\u5347\u6216\u7d93\u6fdf\u8870\u9000\u6642\u5bb9\u6613\u9677\u5165\u8ca1\u52d9\u56f0\u5883\uff0c\u751a\u81f3\u7834\u7522\uff0c\u80a1\u6771\u53ef\u80fd\u8840\u672c\u7121\u6b78\u3002<\/p>\n\n<p class=\"wp-block-paragraph\">\u5c0d\u7b56\u662f\u5982\u679c\u8981\u8cb7\u500b\u80a1\uff0c\u770b\u770b\u8cc7\u7522\u8ca0\u50b5\u8868\u4e0a\u7684\u8ca0\u50b5\u6bd4\u7387\u8207\u5229\u606f\u4fdd\u969c\u500d\u6578\uff1b\u4f46\u6700\u6839\u672c\u7684\u4fdd\u8b77\uff0c\u9084\u662f\u4e0d\u8981\u8b93\u4efb\u4f55\u4e00\u5bb6\u516c\u53f8\u5360\u4f60\u8cc7\u7522\u592a\u5927\u7684\u6bd4\u4f8b\u3002\u5df4\u83f2\u7279\u8aaa\u6295\u8cc7\u7684\u7b2c\u4e00\u500b\u539f\u5247\u662f\u4e0d\u8981\u5931\u53bb\u4f60\u7684\u8cc7\u91d1\uff0c\u9019\u53e5\u8a71\u771f\u6b63\u7684\u610f\u601d\uff0c\u6211\u5728\u3008<a href=\"https:\/\/blog.roboadvisor.com.tw\/?p=1236\">\u6295\u8cc7\u9996\u8981\u539f\u5247\uff1a\u4e0d\u8981\u5931\u53bb\u4f60\u7684\u8cc7\u91d1<\/a>\u3009\u6709\u5beb\u904e\u3002<\/p>\n\n\n<div class=\"wp-block-group alpha-cta alpha-cta-mid alpha-cta-mind has-background is-layout-flow wp-block-group-is-layout-flow\" style=\"border-left-color:#006ece;border-left-width:4px;background-color:#f3f7fb;padding:16px 20px\">\n<p class=\"wp-block-paragraph\"><strong>\u5f9e\u66f8\u3001\u6b77\u53f2\u8207\u5e02\u5834\u5b78\u6295\u8cc7\uff0c\u6211\u5011\u6574\u7406\u5728\u300a\u963f\u723e\u767c\u89c0\u9ede\u300b\u96fb\u5b50\u5831<\/strong><\/p>\n\n\n<div class=\"wp-block-buttons is-content-justification-left is-layout-flex wp-container-core-buttons-is-layout-7b4500cd wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link has-text-color has-background wp-element-button\" href=\"https:\/\/blog.roboadvisor.com.tw\/?page_id=18852#sib-form\" style=\"border-radius:50px;color:#ffffff;background-color:#006ece;border:2px solid #006ece;font-size:clamp(14px, 0.875rem + ((1vw - 3.2px) * 0.234), 17px);line-height:1.4;padding:10px 26px\" target=\"_blank\" rel=\"noopener\"><strong>\u770b\u904e\u5f80\u671f\u6578\uff0c\u8a02\u95b1\u963f\u723e\u767c\u89c0\u9ede<\/strong><\/a><\/div>\n<\/div>\n<\/div>\n\n\n<h2 class=\"wp-block-heading\">\u5982\u4f55\u4e0d\u8ce0\u9322\uff1f\u5f9e\u6311\u80a1\u7968\u6539\u6210\u914d\u7f6e\u8cc7\u7522<\/h2>\n\n<p class=\"wp-block-paragraph\">\u6240\u4ee5\u56de\u5230\u6a19\u984c\u7684\u554f\u984c\uff0c\u8cb7\u80a1\u7968\u7684\u4eba\u70ba\u4ec0\u9ebc\u7e3d\u662f\u8ce0\u9322\u7684\u5c45\u591a\uff1f\u539f\u56e0\u5f88\u7c21\u55ae\uff0c\u5927\u591a\u6578\u4eba\u5728\u73a9\u4e00\u500b\u8d0f\u5bb6\u5f88\u5c11\u7684\u904a\u6232\uff1a\u6311\u51fa\u90a3 4% \u7684\u80a1\u7968\u3001\u9084\u8981\u5728\u5c0d\u7684\u6642\u9593\u9032\u51fa\u3002<\/p>\n\n<p class=\"wp-block-paragraph\">\u60f3\u8981\u4e0d\u8ce0\u9322\uff0c\u6700\u597d\u7684\u65b9\u6cd5\u4e0d\u662f\u8b8a\u6210\u66f4\u53b2\u5bb3\u7684\u9078\u80a1\u9ad8\u624b\uff0c\u800c\u662f\u63db\u4e00\u500b\u904a\u6232\uff1a\u5206\u6563\u5230\u5168\u7403\u7684\u80a1\u7968\u548c\u50b5\u5238\uff0c\u63a7\u5236\u6210\u672c\uff0c\u9577\u671f\u6301\u6709\u3002\u80a1\u7968\u548c\u50b5\u5238\u8981\u5404\u653e\u591a\u5c11\uff0c\u53ef\u4ee5\u5f9e\u3008<a href=\"https:\/\/blog.roboadvisor.com.tw\/?p=14764\">\u80a1\u50b5\u914d\u7f6e\u7d42\u6975\u6307\u5357<\/a>\u3009\u958b\u59cb\u3002<\/p>\n\n<p class=\"wp-block-paragraph\">\u8acb\u8a18\u5f97\uff0c\u5e02\u5834\u6ce2\u52d5\u662f\u5e38\u614b\uff0c\u4e0d\u9700\u8981\u6bcf\u6b21\u90fd\u5c0d\u7684\u6295\u8cc7\u65b9\u6cd5\uff0c\u624d\u662f\u5927\u591a\u6578\u4eba\u80fd\u505a\u5230\u7684\u65b9\u6cd5\u3002<\/p>\n\n<h2 class=\"wp-block-heading\">\u5ef6\u4f38\u95b1\u8b80<\/h2>\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/blog.roboadvisor.com.tw\/?p=1169\">\u6307\u6578\u6295\u8cc7\u662f\u4ec0\u9ebc\uff1f\u70ba\u4ec0\u9ebc\u6307\u6578\u6295\u8cc7\u8aaa\u8d77\u4f86\u5bb9\u6613\u505a\u8d77\u4f86\u96e3\uff1f<\/a>\uff1a\u9069\u5408\u60f3\u653e\u68c4\u9078\u80a1\u3001\u6539\u8cb7\u6574\u500b\u5e02\u5834\u7684\u4eba<\/li>\n<li><a href=\"https:\/\/blog.roboadvisor.com.tw\/?p=1236\">\u6295\u8cc7\u9996\u8981\u539f\u5247\uff1a\u4e0d\u8981\u5931\u53bb\u4f60\u7684\u8cc7\u91d1<\/a>\uff1a\u9069\u5408\u60f3\u5206\u6e05\u695a\u5e33\u9762\u8667\u640d\u548c\u771f\u6b63\u8ce0\u9322\u7684\u4eba<\/li>\n<li><a href=\"https:\/\/blog.roboadvisor.com.tw\/?p=14764\">\u80a1\u50b5\u914d\u7f6e\u7d42\u6975\u6307\u5357\uff1a\u5f9e\u80a1\u50b5\u6bd4\u4f8b\u5230ETF\u63a8\u85a6\u4e00\u6b21\u641e\u61c2\uff01<\/a>\uff1a\u9069\u5408\u60f3\u77e5\u9053\u80a1\u7968\u548c\u50b5\u5238\u5404\u8a72\u653e\u591a\u5c11\u7684\u4eba<\/li>\n<\/ul>\n\n\n<div class=\"wp-block-group alpha-cta alpha-cta-end alpha-cta-mind has-background is-layout-flow wp-block-group-is-layout-flow\" style=\"background-color:#f3f7fb;padding:32px 20px\">\n<p class=\"has-text-align-center wp-block-paragraph\" style=\"font-size:clamp(16.834px, 1.052rem + ((1vw - 3.2px) * 0.716), 26px);font-weight:700\">\u591a\u5e74\u5f8c\u91cd\u8b80\uff0c\u4f9d\u7136\u53d7\u7528\u7684\u6295\u8cc7\u6d1e\u5bdf<\/p>\n\n\n<p class=\"has-text-align-center wp-block-paragraph\">\u300a\u963f\u723e\u767c\u89c0\u9ede\u300b\u6bcf\u4e00\u5c01\u6709\u4e00\u7bc7\u5c08\u5bb6\u89c0\u9ede\u3001\u4e00\u500b\u7406\u8ca1\u6848\u4f8b\u3001\u4e00\u53e5\u7406\u8ca1\u91d1\u53e5\uff0c\u514d\u8cbb\u8a02\u95b1\uff0c\u96a8\u6642\u53ef\u9000\u8a02<\/p>\n\n\n<div class=\"wp-block-buttons is-content-justification-center is-layout-flex wp-container-core-buttons-is-layout-fe0a7de2 wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link has-text-color has-background wp-element-button\" href=\"https:\/\/blog.roboadvisor.com.tw\/?page_id=18852#sib-form\" style=\"border-radius:50px;color:#ffffff;background-color:#006ece;border:2px solid #006ece;font-size:clamp(14px, 0.875rem + ((1vw - 3.2px) * 0.234), 17px);line-height:1.4;padding:10px 26px\" target=\"_blank\" rel=\"noopener\"><strong>\u8a02\u95b1\u963f\u723e\u767c\u89c0\u9ede\u96fb\u5b50\u5831<\/strong><\/a><\/div>\n\n\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link has-text-color has-background wp-element-button\" href=\"https:\/\/urli.ai\/line\/XpZpxkKi\" style=\"border-radius:50px;color:#00b900;background-color:#ffffff;border:2px solid #00b900;font-size:clamp(14px, 0.875rem + ((1vw - 3.2px) * 0.234), 17px);line-height:1.4;padding:10px 26px\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>\u52a0 LINE \u554f\u9867\u554f<\/strong><\/a><\/div>\n<\/div>\n<\/div>\n\n\n\n\n<h2 class=\"wp-block-heading\">\u53c3\u8003\u6587\u737b<\/h2>\n\n<ul class=\"wp-block-list\">\n<li>[1] Bessembinder, H.\uff082017\uff09\u3002Do Stocks Outperform Treasury Bills? SSRN Working Paper. https:\/\/papers.ssrn.com\/sol3\/papers.cfm?abstract_id=2900447<\/li>\n<\/ul>\n\n<h2 class=\"wp-block-heading\">\u91cd\u8981\u8072\u660e<\/h2>\n\n<p class=\"wp-block-paragraph\">\u672c\u6587\u7531\u963f\u723e\u767c\u8b49\u5238\u6295\u8cc7\u9867\u554f\u80a1\u4efd\u6709\u9650\u516c\u53f8\u7de8\u88fd\uff0c\u50c5\u4f9b\u53c3\u8003\uff0c\u4e0d\u69cb\u6210\u4efb\u4f55\u91d1\u878d\u5546\u54c1\u4e4b\u8981\u7d04\u3001\u62db\u652c\u6216\u63a8\u4ecb\uff0c\u4ea6\u975e\u91dd\u5c0d\u7279\u5b9a\u6295\u8cc7\u4eba\u4e4b\u500b\u5225\u6295\u8cc7\u5efa\u8b70\uff1b\u6295\u8cc7\u4eba\u61c9\u4f9d\u81ea\u8eab\u8ca1\u52d9\u72c0\u6cc1\u3001\u6295\u8cc7\u76ee\u6a19\u8207\u98a8\u96aa\u627f\u53d7\u5ea6\u5be9\u614e\u8a55\u4f30\uff0c\u4e26\u81ea\u884c\u627f\u64d4\u6295\u8cc7\u98a8\u96aa\u3002\u6587\u4e2d\u7814\u7a76\u6578\u64da\u70ba\u7f8e\u570b\u80a1\u5e02\u6b77\u53f2\u8cc7\u6599\uff0c\u4e0d\u4ee3\u8868\u4efb\u4f55\u5be6\u969b\u5e33\u6236\u7e3e\u6548\u3002\u904e\u53bb\u7e3e\u6548\u4e0d\u4ee3\u8868\u672a\u4f86\u8868\u73fe\u3002\u963f\u723e\u767c\u8b49\u5238\u6295\u8cc7\u9867\u554f\u80a1\u4efd\u6709\u9650\u516c\u53f8\u3000115\u91d1\u7ba1\u6295\u9867\u65b0\u5b57\u7b2c019\u865f<\/p>","protected":false},"excerpt":{"rendered":"<p>\u7814\u7a76\u7f8e\u80a1 1926 \u5e74\u8d77\uff1a58% \u500b\u80a1\u5831\u916c\u4e0d\u5982\u570b\u5eab\u5238\uff0c4% \u80a1\u7968\u5275\u9020\u5927\u90e8\u5206\u7372\u5229\uff1b\u8cb7\u80a1\u8ce0\u9322\u7684\u4e94\u500b\u539f\u56e0\u8207\u5c0d\u7b56\u3002<\/p>\n","protected":false},"author":7,"featured_media":69,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_hide_featured_image":false,"_jetpack_featured_image_duplicate_dismissed":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","_llm_markdown_disabled":false},"categories":[566],"tags":[1277,1276,1275,1274],"class_list":["post-18","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-566","tag-1277","tag-1276","tag-1275","tag-1274"],"jetpack_sharing_enabled":true,"jetpack-related-posts":[],"jetpack_featured_media_url":"https:\/\/blog.roboadvisor.com.tw\/wp-content\/uploads\/2022\/02\/cristian-newman-67308-1-1-scaled.jpeg","_links":{"self":[{"href":"https:\/\/blog.roboadvisor.com.tw\/index.php?rest_route=\/wp\/v2\/posts\/18","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blog.roboadvisor.com.tw\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.roboadvisor.com.tw\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.roboadvisor.com.tw\/index.php?rest_route=\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.roboadvisor.com.tw\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=18"}],"version-history":[{"count":4,"href":"https:\/\/blog.roboadvisor.com.tw\/index.php?rest_route=\/wp\/v2\/posts\/18\/revisions"}],"predecessor-version":[{"id":19635,"href":"https:\/\/blog.roboadvisor.com.tw\/index.php?rest_route=\/wp\/v2\/posts\/18\/revisions\/19635"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.roboadvisor.com.tw\/index.php?rest_route=\/wp\/v2\/media\/69"}],"wp:attachment":[{"href":"https:\/\/blog.roboadvisor.com.tw\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=18"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.roboadvisor.com.tw\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=18"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.roboadvisor.com.tw\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=18"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}