{"id":618,"date":"2017-10-27T09:08:00","date_gmt":"2017-10-27T01:08:00","guid":{"rendered":"https:\/\/blog.roboadvisor.com.tw\/?p=618"},"modified":"2017-10-27T09:08:00","modified_gmt":"2017-10-27T01:08:00","slug":"%e5%a5%bd%e7%9a%84%e6%8a%95%e8%b3%87%e5%bb%ba%e8%ad%b0%e4%b8%8d%e7%ad%89%e6%96%bc%e6%9c%89%e7%94%a8%e7%9a%84%e6%8a%95%e8%b3%87%e5%bb%ba%e8%ad%b0-%e5%8b%95%e8%83%bd%e6%8a%95%e8%b3%87%e6%b3%95","status":"publish","type":"post","link":"https:\/\/blog.roboadvisor.com.tw\/?p=618","title":{"rendered":"\u597d\u7684\u6295\u8cc7\u5efa\u8b70\u4e0d\u7b49\u65bc\u6709\u7528\u7684\u6295\u8cc7\u5efa\u8b70 | \u52d5\u80fd\u6295\u8cc7\u6cd5"},"content":{"rendered":"\n<p><time datetime=\"2017-10-27T18:09:33+08:00\">2017-10-27<\/time><\/p>\n\n\n\n<h5 class=\"wp-block-heading\">\u52d5\u80fd\u6295\u8cc7\u6cd5<\/h5>\n\n\n\n<p>\u8cb7\u9032\u5e02\u5834\u7684\u5f37\u52e2\u80a1\uff0c\u8ce3\u51fa\u5e02\u5834\u7684\u5f31\u52e2\u80a1\uff0c\u9019\u662f\u5f88\u591a\u80a1\u5e02\u6295\u8cc7\u8001\u624b\u7d93\u5e38\u6703\u8aaa\u7684\u8a71\uff0c\u7528\u6bd4\u8f03\u5c08\u696d\u7684\u8ca1\u7d93\u8853\u8a9e\u4f86\u8aaa\uff0c\u9019\u5c31\u662f\u6240\u8b02\u7684\u300c<mark style=\"background-color:rgba(0, 0, 0, 0);color:#ff0000\" class=\"has-inline-color\">\u52d5\u80fd\u6295\u8cc7\u6cd5 (Momentum Investing)<\/mark>\u300d<\/p>\n\n\n\n<p>\u5e02\u5834\u4e0a\u4e5f\u6709\u4e00\u4e9b\u66f8\u7c4d\u5c08\u9580\u6559\u6295\u8cc7\u4eba\u5982\u4f55\u904b\u7528\u300c\u52d5\u80fd\u6295\u8cc7\u6cd5 \u300d\u4f86\u589e\u52a0\u6295\u8cc7\u5831\u916c\u7387\u3002 \u52d5\u80fd\u6295\u8cc7\u6cd5 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class=\"has-inline-color\">\u7576\u80a1\u50f9\u5275\u65b0\u9ad8\u7684\u6642\u5019\uff0c\u5f80\u5f80\u4e4b\u5f8c\u7684\u80a1\u50f9\u9084\u6703\u7e8c\u5275\u65b0\u9ad8<\/mark>\uff0c\u4e4b\u5f8c\u7e7c\u7e8c\u4e0a\u6f32\u7684\u6a5f\u7387\u6703\u5927\u65bc\u4e0b\u8dcc\u7684\u6a5f\u7387\uff0c\u5c31\u5982\u540c\u9019\u5e7e\u5e74\u7684\u7f8e\u570b\u80a1\u5e02\u4e00\u6a23\uff0c\u6240\u4ee5\u6211\u5728\u904e\u53bb\u7684\u6587\u7ae0\u4e2d &lt;<a href=\"http:\/\/james1966.blogspot.tw\/2017\/06\/blog-post_15.html\">\u6253\u9435\u8981\u8d81\u71b1<\/a>> \u66fe\u7d93\u8aaa\u904e\uff0c\u80a1\u50f9\u5275\u65b0\u9ad8\u901a\u5e38\u8868\u793a\u7684\u662f\u80a1\u50f9\u672a\u4f86\u770b\u6f32\u800c\u4e0d\u662f\u770b\u8dcc\uff0c\u9019\u5c31\u662f\u52d5\u80fd\u7684\u5f71\u97ff\u3002<\/p>\n\n\n\n<p>\u9023\u4eba\u7a31\u6548\u7387\u5e02\u5834\u5047\u8aaa\u4e4b\u7236\u7684\u300c\u8afe\u8c9d\u723e\u7d93\u6fdf\u5b78\u734e\u300d\u5f97\u4e3b\uff0c\u5c24\u91d1\uff0e\u8cbb\u746a(Eugene Fama) 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class=\"wp-block-heading\">\u7814\u7a76\u5831\u544a<\/h5>\n\n\n\n<p>\u7f8e\u570b\u4e00\u5bb6\u7814\u7a76\u6a5f\u69cb<a href=\"https:\/\/www.researchaffiliates.com\/en_us\/publications\/articles\/637-can-momentum-investing-be-saved.html?evar36=eml_Momentum_1017_Section_1_Momentum_CTA&amp;_cldee=dHJhZGluZm9vbEBnbWFpbC5jb20%3D&amp;recipientid=contact-7150e3b42459e411b063005056bc3cff-c8b6\">Research Affiliates<\/a>\u6700\u8fd1\u6709\u4e00\u7bc7\u7814\u7a76\u5831\u544a\uff0c\u6a19\u984c\u662f\uff1a\uff1c<strong>\u52d5\u80fd\u6295\u8cc7\u6cd5\u6709\u6548\u55ce\uff1f<\/strong>\uff1e(Can Momentum Investing Be Saved)<em>\u3002<\/em><\/p>\n\n\n\n<p>\u8a72\u5831\u544a\u7814\u7a76\u4e86\u7f8e\u570b\u5e02\u5834\u4e0a\u6240\u6709\u5171\u540c\u57fa\u91d1\uff0c\u53ea\u8981\u57fa\u91d1\u7684\u540d\u7a31\u7576\u4e2d\u6709\u5305\u542b\u6709\u52d5\u80fd(Momentum)\u7684\u5b57\u6a23\u90fd\u7d0d\u5165\u7814\u7a76\u7684\u6a23\u672c\u7576\u4e2d\uff0c\u7d50\u679c\u5f97\u5230\u7684\u7d50\u8ad6\u662f\uff1a<\/p>\n\n\n\n<p>\u300c\u7f8e\u570b\u5e02\u5834\u4e0a\uff0c<strong><mark style=\"background-color:rgba(0, 0, 0, 0);color:#ff0000\" class=\"has-inline-color\">\u6c92\u6709\u4efb\u4f55\u4e00\u6a94\u540d\u7a31\u4e2d\u542b\u6709\u52d5\u80fd\u5b57\u6a23\u7684\u57fa\u91d1\uff0c\u80fd\u5920\u5f9e\u57fa\u91d1\u958b\u59cb\u6210\u7acb\u81f3\u4eca (\u6263\u9664\u7ba1\u7406\u8cbb\u7528\u5f8c) 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srcset=\"https:\/\/blog.roboadvisor.com.tw\/wp-content\/uploads\/2022\/03\/in.png 640w, https:\/\/blog.roboadvisor.com.tw\/wp-content\/uploads\/2022\/03\/in-300x160.png 300w\" sizes=\"auto, (max-width: 640px) 100vw, 640px\" \/><\/figure>\n\n\n\n<h5 class=\"wp-block-heading\">\u5831\u544a\u7d50\u8ad6<\/h5>\n\n\n\n<p>\u9019\u500b\u7814\u7a76\u7d50\u679c\u6e05\u695a\u7684\u986f\u793a\u51fa\uff0c<mark style=\"background-color:rgba(0, 0, 0, 0);color:#ff0000\" class=\"has-inline-color\">\u5373\u4f7f\u80a1\u5e02\u7576\u4e2d\u7684\u78ba\u5b58\u5728\u8457\u52d5\u80fd(Momentum)\u7684\u73fe\u8c61\uff0c\u4f46\u8981\u5c07\u9019\u7a2e\u73fe\u8c61\u8f49\u5316\u6210\u53ef\u4ee5\u7372\u5229\u7684\u6a21\u5f0f\u9084\u662f\u5f88\u56f0\u96e3\u7684<\/mark>\uff0c\u7814\u7a76\u5831\u544a\u4e2d\u4e5f\u7279\u5225\u8209\u51fa\u4e86\u7528\u9019\u7a2e\u65b9\u6cd5\u4f86\u6295\u8cc7\u6703\u767c\u751f\u7684\u5e7e\u500b\u554f\u984c\uff0c\u5176\u4e2d\u6700\u5927\u7684\u554f\u984c\u5c31\u662f\u8cb7\u9032\u8ce3\u51fa\u983b\u7387\u6703\u5f88\u9ad8\uff0c\u8868\u73fe\u6700\u597d\u7684\u80a1\u7968\u53ef\u80fd\u7d93\u5e38\u6703\u4e0d\u540c\uff0c\u4e14\u6539\u8b8a\u7684\u901f\u5ea6\u5f88\u5feb\uff0c\u9019\u9020\u6210\u4e86\u9700\u8981\u983b\u7e41\u66f4\u63db\u4e0d\u540c\u7684\u80a1\u7968\u53bb\u6295\u8cc7\uff0c\u5c0e\u81f4<strong><mark style=\"background-color:rgba(0, 0, 0, 0);color:#ff0000\" 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