{"id":181881,"date":"2020-01-11T14:04:50","date_gmt":"2020-01-11T06:04:50","guid":{"rendered":"https:\/\/www.lixiangluntan.com\/181881.html"},"modified":"2020-01-11T14:04:50","modified_gmt":"2020-01-11T06:04:50","slug":"%e4%b8%ba%e4%bd%95%e4%bc%9a%e5%87%ba%e7%8e%b0%e9%bb%91%e8%89%b2%e6%98%9f%e6%9c%9f%e4%b8%80%ef%bc%9f_%e5%90%8c%e8%8a%b1%e9%a1%ba%e8%b4%a2%e5%af%8c%e5%85%88%e9%94%8b%e7%a0%b4%e8%a7%a3","status":"publish","type":"post","link":"https:\/\/www.lixiangluntan.com\/?p=181881","title":{"rendered":"\u4e3a\u4f55\u4f1a\u51fa\u73b0\u9ed1\u8272\u661f\u671f\u4e00\uff1f_\u540c\u82b1\u987a\u8d22\u5bcc\u5148\u950b\u7834\u89e3"},"content":{"rendered":"<blockquote style=\"font-size:15px;background-color: #F5F5F5;border:none;padding: 5px;margin:15px;line-height: 1.6;text-indent: 2em;\">\n<p 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href=\"http:\/\/www.lixiangluntan.com\" target=\"_blank\" rel=\"noopener noreferrer\">\u80a1\u7968\u516c\u5f0f\u5927\u5168<\/a>&nbsp;&nbsp;&nbsp;&nbsp; <\/p>\n<p> \u3000\u3000\u9ed1\u8272\u661f\u671f\u4e00<strong>\u80a1\u707e\u5f62\u6210\u539f\u56e0<\/strong>\u6709\u54ea\u4e9b\uff1f\u4e3a\u4f55\u4f1a\u51fa\u73b0\u9ed1\u8272\u661f\u671f\u4e00\uff1f<\/p>\n<p> \u3000\u3000\u5f88\u591a\u4eba\u5728\u80a1\u707e\u540e\u611f\u5230\u5947\u602a\uff0c \u56e0\u5f53\u65e5\u6839\u672c\u6ca1\u6709\u4efb\u4f55\u4e0d\u5229\u80a1\u5e02\u7684\u6d88\u606f\u6216\u65b0\u95fb\uff0c \u56e0\u6b64\u4e0b\u8dcc\u770b\u4f3c\u5e76\u65e0\u5b9e\u5728\u7684\u539f\u56e0\uff0c \u4ee4\u5f53\u65f6\u5f88\u591a\u4eba\u6000\u7591\u662f\u7f8a\u7fa4\u5fc3\u7406\u3001\u5e02\u573a\u5931\u8d25 \uff08efficient market hypothesis\uff09 \u6216\u7ecf\u6d4e\u5931\u8861\u5f15\u81f4\u80a1\u707e\uff0c \u81f3\u4eca\u4ecd\u5728\u4e89\u8bba\u3002<\/p>\n<p> \u3000\u30001986\u5e74\uff0c\u7f8e\u56fd\u7ecf\u6d4e\u5df2\u7ecf\u4ece\u9ad8\u901f\u53d1\u5c55\u53d8\u4e3a\u7f13\u6162\u53d1\u5c55\u3002\u76f4\u63a5\u5bfc\u81f4\u7ecf\u6d4e\u653e\u7f13\u7206\u6da8\u505c\u6b62\u7684\u300c\u8f6f\u7740\u9646\u300d\u30021987\u5e74\u7f13\u6162\u5730\u8fc7\u53bb\u4e86\uff0c\u4f3c\u4e4e\u7ecf\u6d4e\u8870\u9000\u7684\u6050\u60e7\u5e76\u6ca1\u6709\u9a6c\u4e0a\u7206\u53d1\u3002\u5e02\u573a\u57281987\u5e748\u6708\u5230\u8fbe\u4e86\u9876\u5cf0\u3002\u63a5\u7740\u8fde\u7eed\u6570\u65e5\uff0c\u5e02\u573a\u5927\u9762\u79ef\u4e0b\u6ed1\u30028\u6708\uff0c\u89c2\u5bdf\u5458\u8b66\u544a\uff0c\u6280\u672f\u5206\u6790\u8868\u660e\uff0c\u5e02\u573a\u6b64\u65f6\u5904\u5728\u4e00\u4e2a\u5faa\u73af\uff0c\u7136\u800c\u8fd9\u79cd\u8bf4\u6cd5\u6ca1\u6709\u88ab\u5e7f\u6cdb\u8ba4\u540c\u3002<\/p>\n<p> \u3000\u3000\u80a1\u707e\u540e\u5f88\u591a\u4eba\u63d0\u51fa\u4e0d\u540c\u7684\uff0c \u4e3b\u8981\u8ba4\u4e3a\u80a1\u707e\u6210\u56e0\u5305\u62ec\uff1a 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