{"id":26648,"date":"2019-11-01T04:11:35","date_gmt":"2019-10-31T20:11:35","guid":{"rendered":"https:\/\/www.lixiangluntan.com\/26648.html"},"modified":"2019-11-01T04:11:35","modified_gmt":"2019-10-31T20:11:35","slug":"%e4%bb%80%e4%b9%88%e6%98%af%e5%ae%89%e5%85%a8%e8%be%b9%e9%99%85_%e7%82%92%e8%82%a1%e8%ae%ba%e5%9d%9b%e7%a4%be%e5%8c%ba","status":"publish","type":"post","link":"https:\/\/www.lixiangluntan.com\/?p=26648","title":{"rendered":"\u4ec0\u4e48\u662f\u5b89\u5168\u8fb9\u9645_\u7092\u80a1\u8bba\u575b\u793e\u533a"},"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 style=\"margin-bottom:5px;\">\u4ec0\u4e48\u662f\u5e84\u5bb6\u7684\u751f\u547d\u7ebf<\/p>\n<p><strong>\u4ec0\u4e48\u662f\u5e84\u5bb6\u7684\u751f\u547d\u7ebf<\/strong><\/p>\n<\/blockquote>\n<p>&nbsp;&nbsp;&nbsp;&nbsp; <\/p>\n<p> <strong>\u4ec0\u4e48\u662f\u5b89\u5168\u8fb9\u9645<\/strong><\/p>\n<p> &nbsp;&nbsp;&nbsp; \u5b89\u5168\u8fb9\u9645\uff08margin of safety\uff09\ufffd\ufffd\u662f\u6839\u636e\u5b9e\u9645\u6216\u9884\u8ba1\u7684\u9500\u552e\u4e1a\u52a1\u91cf\u4e0e\u4fdd\u672c\u4e1a\u52a1\u91cf\u7684\u5dee\u91cf\u786e\u5b9a\u7684\u5b9a\u91cf\u3002<\/p>\n<p> \u3000\u3000\u8d22\u52a1\u7ba1\u7406\u4e2d\uff0c\u5b89\u5168\u8fb9\u9645\u662f\u6307\u6b63\u5e38\u9500\u552e\u989d\u8d85\u8fc7\u76c8\u4e8f\u4e34\u754c\u70b9\u9500\u552e\u989d\u7684\u5dee\u989d\uff0c\u5b83\u8868\u660e\u9500\u552e\u91cf\u4e0b\u964d\u591a\u5c11\u4f01\u4e1a\u4ecd\u4e0d\u81f4\u4e8f\u635f\u3002<\/p>\n<p> \u3000\u3000\u6295\u8d44\u9886\u57df\u7684\u6838\u5fc3\u6982\u5ff5\uff0c\u5b9a\u4e49\uff1a\u5b9e\u8d28\u4ef7\u503c\u6216\u5185\u5728\u4ef7\u503c\u4e0e\u4ef7\u683c\u7684\u987a\u5dee\uff0c\u53e6\u4e00\u79cd\u8bf4\u6cd5\uff1a\u5b89\u5168\u8fb9\u9645\u5c31\u662f\u4ef7\u503c\u4e0e\u4ef7\u683c\u76f8\u6bd4\u88ab\u4f4e\u4f30\u7684\u7a0b\u5ea6\u6216\u5e45\u5ea6\u3002<\/p>\n<p> \u3000\u3000\u6839\u636e\u5b9a\u4e49\uff0c\u53ea\u6709\u5f53\u4ef7\u503c\u88ab\u4f4e\u4f30\u7684\u65f6\u5019\u624d\u5b58\u5728\u5b89\u5168\u8fb9\u9645\u6216\u5b89\u5168\u8fb9\u9645\u4e3a\u6b63\uff0c\u5f53\u4ef7\u503c\u4e0e\u4ef7\u683c\u76f8\u5f53\u7684\u65f6\u5019\u5b89\u5168\u8fb9\u9645\u4e3a\u96f6\uff0c\u800c\u5f53\u4ef7\u503c\u88ab\u9ad8\u4f30\u7684\u65f6\u5019\u4e0d\u5b58\u5728\u5b89\u5168\u8fb9\u9645\u6216\u5b89\u5168\u8fb9\u9645\u4e3a\u8d1f\u3002\u4ef7\u503c\u6295\u8d44\u8005\u53ea\u5bf9\u4ef7\u503c\u88ab\u4f4e\u4f30\u7279\u522b\u662f\u88ab\u4e25\u91cd\u4f4e\u4f30\u7684\u5bf9\u8c61\u611f\u5174\u8da3\u3002\u5b89\u5168\u8fb9\u9645\u4e0d\u4fdd\u8bc1\u80fd\u907f\u514d\u635f\u5931\uff0c\u4f46\u80fd\u4fdd\u8bc1\u83b7\u5229\u7684\u673a\u4f1a\u6bd4\u635f\u5931\u7684\u673a\u4f1a\u66f4\u591a\u3002<\/p>\n<p> \u3000\u3000\u4e5f\u53ef\u8bd1\u4f5c\u5b89\u5168\u5e45\u5ea6\uff0c\u662f\u6307\u76c8\u4e8f\u4e34\u754c\u70b9\u4ee5\u4e0a\u7684\u9500\u552e\u91cf\uff0c\u4e5f\u5c31\u662f\u73b0\u6709\u9500\u552e\u91cf\u8d85\u8fc7\u76c8\u4e8f\u4e34\u754c\u70b9\u9500\u552e\u91cf\u7684\u5dee\u989d\u3002\u5b83\u6807\u5fd7\u7740\u4ece\u73b0\u6709\u9500\u552e\u91cf\u6216\u9884\u8ba1\u53ef\u8fbe\u5230\u7684\u9500\u552e\u91cf\u5230\u76c8\u4e8f\u4e34\u754c\u70b9\uff0c\u8fd8\u6709\u591a\u5927\u7684\u5dee\u8ddd\u3002\u6b64\u5dee\u8ddd\u8bf4\u660e\u73b0\u6709\u6216\u9884\u8ba1\u53ef\u8fbe\u5230\u7684\u9500\u552e\u91cf\u518d\u964d\u4f4e\u591a\u5c11\uff0c\u4f01\u4e1a\u624d\u4f1a\u53d1\u751f\u635f\u5931\u3002\u5dee\u8ddd\u8d8a\u5927\uff0c\u5219\u4f01\u4e1a\u53d1\u751f\u4e8f\u635f\u7684\u53ef\u80fd\u6027\u5c31\u8d8a\u5c0f\uff0c\u4f01\u4e1a\u7684\u7ecf\u8425\u5c31\u8d8a\u5b89\u5168\u3002<\/p>\n<p> \u3000\u3000\u5b89\u5168\u8fb9\u9645\u7387\u6a21\u578b\u4e3b\u8981\u7528\u4e8e\u4f01\u4e1a\u5206\u6790\u5176\u7ecf\u8425\u7684\u5b89\u5168\u7a0b\u5ea6\u3002<\/p>\n<p> \u3000\u3000\u5b89\u5168\u8fb9\u9645\u7684\u8ba1\u7b97<\/p>\n<p> \u3000\u3000\u5b89\u5168\u8fb9\u9645\u53ef\u4ee5\u7528\u7edd\u5bf9\u6570\u548c\u76f8\u5bf9\u6570\u4e24\u79cd\u5f62\u5f0f\u6765\u8868\u73b0\uff0c\u5176\u8ba1\u7b97\u516c\u5f0f\u4e3a\uff1a<\/p>\n<p> \u3000\u3000\u5b89\u5168\u8fb9\u9645\uff1d\u73b0\u6709\u9500\u552e\u91cf\uff0d\u76c8\u4e8f\u4e34\u754c\u70b9\u9500\u552e\u91cf<\/p>\n<p> \u3000\u3000\u5b89\u5168\u8fb9\u9645\u7387\uff1d\u5b89\u5168\u8fb9\u9645\/\u73b0\u6709\u9500\u552e\u91cf<\/p>\n<p> \u3000\u3000\u56e0\u4e3a\u53ea\u6709\u76c8\u4e8f\u4e34\u754c\u70b9\u4ee5\u4e0a\u7684\u9500\u552e\u989d\uff08\u5373\u5b89\u5168\u8fb9\u9645\u90e8\u5206\uff09\u624d\u80fd\u4e3a\u4f01\u4e1a\u63d0\u4f9b\u5229\u6da6\uff0c\u6240\u4ee5\u9500\u552e\u5229\u6da6\u53c8\u53ef\u6309\u4e0b\u5217\u516c\u5f0f\u8ba1\u7b97\uff1a<\/p>\n<p> \u3000\u3000\u9500\u552e\u5229\u6da6\uff1d\u5b89\u5168\u8fb9\u9645\u9500\u552e\u91cf\u00d7\u5355\u4f4d\u4ea7\u54c1\u8d21\u732e\u6bdb\u76ca<\/p>\n<p> \u3000\u3000\u9500\u552e\u5229\u6da6\u7387\uff1d\u5b89\u5168\u8fb9\u9645\u7387\u00d7\u8d21\u732e\u6bdb\u76ca\u7387\ufffd<\/p>\n<p> \u3000\u3000\u6b64\u5916\uff0c\u4ee5\u76c8\u4e8f\u4e34\u754c\u70b9\u4e3a\u57fa\u7840\uff0c\u8fd8\u53ef\u5f97\u5230\u53e6\u4e00\u4e2a\u8f85\u52a9\u6027\u6307\u6807\uff0c\u5373\u8fbe\u5230\u76c8\u4e8f\u4e34\u754c\u70b9\u7684\u4f5c\u4e1a\u7387\u3002\u5176\u8ba1\u7b97\u516c\u5f0f\u4e3a\uff1a<\/p>\n<p> \u3000\u3000\u8fbe\u5230\u76c8\u4e8f\u4e34\u754c\u70b9\u7684\u4f5c\u4e1a\u7387\uff1d\u76c8\u4e8f\u4e34\u754c\u70b9\u7684\u9500\u552e\u91cf\/\u6b63\u5e38\u5f00\u5de5\u7684\u4f5c\u4e1a\u91cf<\/p>\n<p> \u3000\u3000\u5f53\u4f01\u4e1a\u4f5c\u4e1a\u7387\u4f4e\u4e8e\u76c8\u4e8f\u4e34\u754c\u70b9\u7684\u4f5c\u4e1a\u7387\u65f6\u5c31\u4f1a\u4e8f\u635f\u3002\u6240\u4ee5\uff0c\u8be5\u6307\u6807\u5bf9\u4f01\u4e1a\u7684\u751f\u4ea7\u5b89\u6392\u5177\u6709\u4e00\u5b9a\u7684\u6307\u5bfc\u610f\u4e49\u3002<\/p>\n<p> \u3000\u3000\u5b89\u5168\u8fb9\u9645\u5e94\u7528\u5206\u6790<\/p>\n<p> \u3000\u3000\u5b89\u5168\u8fb9\u9645\u91cf\u6216\u5b89\u5168\u8fb9\u9645\u989d\u7684\u6570\u503c\u8d8a\u5927\uff0c\u4f01\u4e1a\u53d1\u751f\u4e8f\u635f\u7684\u53ef\u80fd\u6027\u5c31\u8d8a\u5c0f\uff0c\u4f01\u4e1a\u4e5f\u5c31\u8d8a\u5b89\u5168\u3002\u5f88\u663e\u7136\u4e0a\u8ff0\u6307\u6807\u5c5e\u4e8e\u7edd\u5bf9\u6570\u6307\u6807\uff0c\u4e0d\u4fbf\u4e8e\u4e0d\u540c\u4f01\u4e1a\u548c\u4e0d\u540c\u884c\u4e1a\u4e4b\u95f4\u8fdb\u884c\u6bd4\u8f83\u3002<\/p>\n<p> \u3000\u3000\u540c\u6837\u5730\uff0c\u5b89\u5168\u8fb9\u9645\u7387\u6570\u503c\u8d8a\u5927\uff0c\u4f01\u4e1a\u53d1\u751f\u4e8f\u635f\u7684\u53ef\u80fd\u6027\u5c31\u8d8a\u5c0f\uff0c\u8bf4\u660e\u4f01\u4e1a\u7684\u4e1a\u52a1\u7ecf\u8425\u4e5f\u5c31\u8d8a\u5b89\u5168\u3002\u897f\u65b9\u4f01\u4e1a\u8bc4\u4ef7\u5b89\u5168\u7a0b\u5ea6\u7684\u7ecf\u9a8c\u6807\u51c6\uff0c\u5982\u4e0b\u8868\u6240\u793a\uff1a<\/p>\n<p> \u3000\u3000\u4f01\u4e1a\u5b89\u5168\u6027\u7ecf\u9a8c\u6807\u51c6<\/p>\n<p> \u3000\u3000\u5b89\u5168\u8fb9\u9645\u7387\u300010%\u4ee5\u4e0b\u300011%-20%\u300021%-30%\u300031%-40%\u300041%\u4ee5\u4e0a<\/p>\n<p> \u3000\u3000\u5b89\u5168\u7a0b\u5ea6\u3000\u3000\u3000\u5371\u9669\u3000\u3000\u503c\u5f97\u6ce8\u610f\u3000\u3000\u6bd4\u8f83\u5b89\u5168\u3000\u3000\u5b89\u5168\u3000\u3000\u5f88\u5b89\u5168<\/p>\n<p> \u3000\u3000\u5b89\u5168\u8fb9\u9645\u7684\u4e3e\u4f8b\u5206\u6790<\/p>\n<p> \u3000\u3000\u5047\u5b9a\u67d0\u4f01\u4e1a\u7684\u76c8\u4e8f\u4e34\u754c\u70b9\u7684\u9500\u552e\u91cf\u4e3a2000\u4ef6\uff0c\u5355\u4f4d\u552e\u4ef7\u4e3a10\u5143\uff0c\u9884\u8ba1\u7684\u9500\u552e\u91cf\u53ef\u8fbe\u52303000\u4ef6\uff0c\u5219\u8be5\u4f01\u4e1a\u7684\u5b89\u5168\u8fb9\u9645=3000-2000=1000\uff08\u4ef6\uff09<\/p>\n<p> \u3000\u3000\u6216=3000\u00d710-20000=10000\uff08\u5143\uff09<\/p>\n<p> \u3000\u3000\u5b89\u5168\u8fb9\u9645\u7387=1000\u00f73000=33.33%<\/p>\n<p> \u3000\u3000\u6216=10000\u00f730000=33.33%<\/p>\n<p> \uff08\u80a1\u7968\u8d44\u6e90\u9986lixiangluntan.com\uff09<br \/>\n<\/p>\n<blockquote style=\"font-size:15px;background-color: #F5F5F5;border:none;padding: 5px;margin:15px;line-height: 1.6;text-indent: 2em;\">\n<p style=\"margin-bottom:5px;\">\u3010\u80a1\u7968\u8d44\u6e90\u9986\u3011\u4e1c\u65b9\u8d22\u5bccL2\u51b3\u7b56\u7834\u89e3\u7248,\u4e1c\u65b9\u8d22\u5bcc\u7f51,\u4e1c\u65b9\u8d22\u5bcc\u6295\u8d44\u5927\u5e08\u7834\u89e3\u7248,\u4e1c\u65b9\u8d22\u5bcc\u5148\u950b\u7248\u7834\u89e3,\u4e1c\u65b9\u8d22\u5bcc\u9886\u822a\u7248\u7834\u89e3,\u540c\u82b1\u987a\u8fdc\u822a\u7248\u7834\u89e3,\u540c\u82b1\u987a\u8d22\u5bcc\u5148\u950b\u7834\u89e3,\u540c\u82b1\u987aL2\u7834\u89e3\u3002<\/p>\n<\/blockquote>\n<blockquote style=\"font-size:15px;background-color: #F5F5F5;border:none;padding: 5px;margin:15px;line-height: 1.6;text-indent: 2em;\">\n<p style=\"margin-bottom:5px;\">\u4ec0\u4e48\u662f\u4e0a\u8bc1\u6307\u6570<\/p>\n<p><strong>\u4ec0\u4e48\u662f\u4e0a\u8bc1<\/strong><\/p>\n<\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p><strong>\u4ec0\u4e48\u662f\u5b89\u5168\u8fb9\u9645<\/strong><\/p>\n","protected":false},"author":7,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[28],"tags":[103],"class_list":["post-26648","post","type-post","status-publish","format-standard","hentry","category-gpjbgn","tag-103"],"_links":{"self":[{"href":"https:\/\/www.lixiangluntan.com\/index.php?rest_route=\/wp\/v2\/posts\/26648","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.lixiangluntan.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.lixiangluntan.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.lixiangluntan.com\/index.php?rest_route=\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/www.lixiangluntan.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=26648"}],"version-history":[{"count":0,"href":"https:\/\/www.lixiangluntan.com\/index.php?rest_route=\/wp\/v2\/posts\/26648\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.lixiangluntan.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=26648"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lixiangluntan.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=26648"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lixiangluntan.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=26648"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}