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27\u5c81\u7684\u4e0a\u6d77\u7535\u8111\u7a0b\u5e8f\u5458Stephen Guo\u8bf4\uff0c\u4e2d\u56fd\u80a1\u5e02\u5c31\u50cf\u4e00\u4e2a\u6ce1\u6cab\uff0c\u4f46\u6ca1\u4eba\u77e5\u9053\u5b83\u4f55\u65f6\u4f1a\u7834\u88c2\u3002\u81ea\u53bb\u5e74\u8d77\u4ed6\u4ece\u80a1\u5e02\u4e0a\u8d5a\u7684\u94b1\u5df2\u7ecf\u8d85\u8fc7\u4e86\u4ed6\u7684\u5de5\u8d44\u6536\u5165\u3002\u867d\u7136\u53ea\u6709\u4e24\u5e74\u7684\u7092\u80a1\u8d44\u5386\uff0c\u4f46Stephen Guo\u5df2\u5728\u4e3a\u670b\u53cb\u4eec\u7ba1\u7406\u6295\u8d44\u4e86\uff0c\u4ed6\u8fd9\u4e48\u505a\u662f\u5b58\u5728\u76f8\u5f53\u98ce\u9669\u7684\uff0c\u5982\u679c\u80a1\u5e02\u884c\u60c5\u6025\u8f6c\u76f4\u4e0b\uff0c\u90a3\u4e48\u8fd9\u4e00\u6295\u8d44\u6a21\u5f0f\u6ce8\u5b9a\u4f1a\u7ed9\u66f4\u591a\u4eba\u5e26\u6765\u75db\u82e6\u3002<\/FONT><\/P>\r\n

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\u4e00\u65e6\u516c\u4f17\u7684\u6295\u8d44\u70ed\u60c5\u51b7\u5374\u4e0b\u6765\uff08\u8fd9\u4e00\u70b9\u65e0\u4ece\u907f\u514d\uff09\uff0c\u6709\u4e9b\u4eba\u4f1a\u63d0\u51fa\u8fd9\u6837\u4e00\u4e2a\u95ee\u9898\uff0c\u90a3\u5c31\u662f\u4e2d\u56fd\u5e02\u573a\u51fa\u73b0\u7684\u6839\u672c\u6539\u5584\u662f\u5426\u80fd\u591f\u5f97\u4ee5\u7ef4\u6301\u3002\u7ebd\u7ea6\u5927\u5b66\u65af\u7279\u6069\u5546\u5b66\u9662(Stern School of Business)\u7684\u7ecf\u6d4e\u53f2\u5b66\u5bb6\u7406\u67e5\u5fb7•\u6089\u62c9(Richard Sylla)\u8bf4\uff0c\u4f34\u968f\u91d1\u878d\u5e02\u573a\u7684\u53d1\u5c55\u603b\u4f1a\u51fa\u73b0\u5371\u673a\uff0c\u771f\u6b63\u7684\u95ee\u9898\u662f\u8fd9\u4e9b\u5371\u673a\u662f\u5426\u4f1a\u9020\u6210\u6301\u4e45\u7684\u4f24\u5bb3\u3002<\/FONT><\/P>\r\n

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Stephen Guo\u51e0\u4e4e\u6bcf\u5929\u5f00\u59cb\u5de5\u4f5c\u524d\u90fd\u8981\u5728\u7f51\u4e0a\u8fdb\u884c\u80a1\u7968\u4ea4\u6613\uff0c\u4ed6\u5728\u4e70\u8fdb\u524d\u4f1a\u7814\u7a76\u4e0a\u5e02\u516c\u53f8\u7684\u6536\u76ca\u62a5\u544a\u5e76\u89c2\u5bdf\u53cd\u6620\u80a1\u5e02\u884c\u60c5\u7684\u8d8b\u52bf\u56fe\u3002\u4ed6\u4e3b\u8981\u6295\u8d44\u84dd\u7b79\u80a1\u3002\u5728\u4e0a\u8bc1\u7efc\u5408\u6307\u6570\u4eca\u5e742\u6708\u4e0b\u8dcc8.8%\u4e4b\u65f6\uff0cStephen Guo\u5411\u80a1\u5e02\u6295\u5165\u4e864,000\u7f8e\u5143\uff0c\u800c\u81ea\u90a3\u4ee5\u6765\u8be5\u6307\u6570\u5df2\u4e0a\u6da8\u4e86\u4e00\u500d\u3002<\/FONT><\/P>\r\n

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\u968f\u7740\u4e00\u79cd\u6295\u8d44\u6587\u5316\u5728\u4e2d\u56fd\u9010\u6e10\u751f\u6839\uff0c\u8bb8\u591a\u4eba\u5df2\u5f00\u59cb\u91c7\u7528\u66f4\u4e3a\u8001\u5230\u7684\u4ea4\u6613\u7b56\u7565\uff0c\u4f46\u662f\u771f\u6b63\u6709\u7ecf\u9a8c\u80fd\u5224\u65ad\u51fa\u4f55\u65f6\u5e02\u573a\u70ed\u5ea6\u8fc7\u5934\u7684\u4eba\u5219\u5c11\u4e4b\u53c8\u5c11\u3002\u4e0d\u4e45\u524d\u7684\u4e00\u4e2a\u665a\u4e0a\uff0c\u676d\u5dde\u6709\u5927\u7ea62,000\u4eba\u8046\u542c\u4e86\u7f8e\u56fd\u6295\u8d44\u5927\u5e08\u5409\u59c6•\u7f57\u6770\u65af(Jim Rogers)\u7684\u6295\u8d44\u8bb2\u5ea7\uff0c\u4e00\u5f20\u8bb2\u5ea7\u5165\u573a\u5238\u7684\u4ef7\u683c\u7adf\u9ad8\u8fbe800\u7f8e\u5143\u3002\u66f4\u6709\u751a\u8005\uff0c\u6709\u4e00\u4f4d\u6295\u8d44\u8005\u66f4\u62cd\u51fa5.3\u4e07\u7f8e\u5143\uff0c\u4e3a\u7684\u53ea\u662f\u5728\u7b2c\u4e8c\u5929\u665a\u4e0a\u5355\u72ec\u4e0e\u7f57\u6770\u65af\u5171\u8fdb\u665a\u9910\uff0c\u8c08\u80a1\u8bba\u5e02\u3002\u7f57\u6770\u65af\u5728\u8bb2\u5ea7\u4e0a\u529d\u544a\u6295\u8d44\u8005\u4fdd\u6301\u8c28\u614e\uff0c\u79f0\u76ee\u524d\u7684\u4e2d\u56fd\u80a1\u5e02\u662f\u4e00\u4e2a\u201c\u6f5c\u5728\u7684\u6ce1\u6cab\u201d\uff0c\u82e5\u662f\u7f6e\u4e4b\u4e0d\u7406\u5f53\u524d\u7684\u5927\u597d\u5c40\u9762\u5f88\u53ef\u80fd\u4f1a\u6bc1\u4e8e\u4e00\u65e6\u3002\u201c\u4f60\u4eec\u5fc5\u987b\u4fdd\u6301\u8c28\u614e\uff0c\u201d\u7f57\u6770\u65af\u8fd9\u6837\u8bf4\u3002<\/FONT><\/P>\r\n

\u5386\u53f2\u66fe\u7ecf\u4e00\u6b21\u53c8\u4e00\u6b21\u5730\u5411\u6211\u4eec\u5c55\u793a\u4e86\u6ce1\u6cab\u7684\u5371\u9669\u6027\u3002\u7136\u800c\u5728\u6ce1\u6cab\u7834\u706d\u65f6\u7684\u6df7\u4e71\u5c40\u9762\u4e2d\uff0c\u90a3\u4e9b\u8d77\u521d\u63a8\u52a8\u5e02\u573a\u7e41\u8363\u666f\u8c61\u5f62\u6210\u7684\u90a3\u4e9b\u5b9e\u5b9e\u5728\u5728\u7684\u4e1c\u897f\u5374\u5f80\u5f80\u4f1a\u88ab\u5ffd\u7565\uff0c\u800c\u8fd9\u79cd\u5b9e\u5b9e\u5728\u5728\u7684\u4e1c\u897f\u5c31\u662f\u7ecf\u6d4e\u57fa\u672c\u9762\u7684\u6539\u5584\uff0c\u5b83\u6240\u4ea7\u751f\u7684\u5f71\u54cd\u5e38\u5e38\u8981\u6bd4\u5371\u673a\u7684\u5f71\u54cd\u66f4\u4e3a\u6df1\u8fdc\u3002<\/FONT><\/P>\r\n

\u5728\u5f15\u53d1\u7f8e\u56fd\u7ecf\u6d4e\u5927\u8427\u6761\u76841929\u5e74\u80a1\u707e\u7206\u53d1\u540e\uff0c\u7ecf\u6d4e\u5b66\u5927\u5e08\u51ef\u6069\u65af(John Maynard Keynes)\u66fe\u9a73\u65a5\u90a3\u4e9b\u6240\u8c13\u201c\u7ecf\u6d4e\u6ed1\u5761\u53ea\u662f\u524d\u51e0\u5e74\u4ea7\u51fa\u8fc7\u5269\u7684\u7ed3\u679c\u201d\u7684\u89c2\u70b9\u3002\u4ed6\u66fe\u8fd9\u6837\u5199\u9053\uff1a\u201c\u867d\u8bf4\u4e16\u754c\u4e0a\u6b63\u5728\u8fdb\u884c\u7684\u4e00\u4e9b\u6295\u8d44\u7b3c\u7edf\u5730\u8bb2\u65e0\u7591\u5c5e\u4e8e\u8bef\u5224\u4e14\u4e0d\u4f1a\u7ed3\u51fa\u7855\u679c\uff0c\u4f46\u6211\u8ba4\u4e3a\uff0c\u4e16\u754c\u6beb\u65e0\u7591\u95ee\uff08\u56e0\u6b64\u800c\uff09\u83b7\u5f97\u4e86\u6781\u5927\u7684\u5bcc\u8db3\u3002\u201d<\/FONT><\/P>\r\n

\u5728\u8457\u540d\u9a7b\u6cf0\u56fd\u57fa\u91d1\u7ecf\u7406\u9ea6\u5609\u534e(Marc Faber)\u7684\u773c\u4e2d\uff0c\u4eca\u5929\u7684\u4e2d\u56fd\u770b\u4e0a\u53bb\u5f88\u50cf\u4e0a\u4e16\u7eaa\u4e8c\u5341\u5e74\u4ee3\u7684\u7f8e\u56fd\u3002\u4ed6\u8bf4\uff0c\u5c31\u50cf\u773c\u4e0b\u4e2d\u56fd\u6295\u8d44\u8005\u5bf9\u672c\u56fd\u7ecf\u6d4e\u5145\u6ee1\u4fe1\u5fc3\u4e00\u6837\uff0c\u5f53\u5e74\u7684\u7f8e\u56fd\u7ecf\u6d4e\uff0c\u9762\u5bf9\u8bf8\u5982\u65e0\u7ebf\u7535\u7b49\u79d1\u6280\u8fdb\u6b65\u4ee5\u53ca\u65b0\u5174\u4e2d\u4ea7\u9636\u7ea7\u7684\u5d1b\u8d77\u4e5f\u662f\u4e00\u7247\u7e41\u8363\u666f\u8c61\u3002\u5f53\u65f6\u7684\u7f8e\u56fd\u80a1\u5e02\u5145\u6ee1\u6d3b\u529b\uff0c\u56e0\u4e3a\u56fd\u5bb6\u7684\u524d\u666f\u4e00\u7247\u5927\u597d\u3002<\/FONT><\/P>\r\n

\u5f53\u7136\uff0c\u5927\u8427\u6761\u662f\u7f8e\u56fd\u7ecf\u6d4e\u6709\u53f2\u4ee5\u6765\u53d7\u5230\u7684\u6700\u6c89\u91cd\u7684\u6253\u51fb\uff0c\u9053\u743c\u65af\u5de5\u4e1a\u80a1\u7968\u5e73\u5747\u4ef7\u683c\u6307\u6570(Dow Jones Industrial Average)\u76f4\u5230\u4e94\u5341\u5e74\u4ee3\u624d\u5b8c\u5168\u6062\u590d\u5230\u5927\u8427\u6761\u4e4b\u524d\u7684\u6c34\u5e73\u3002\u4f46\u662f\u80a1\u707e\u672c\u8eab\u4fc3\u4f7f\u7f8e\u56fd\u5236\u5b9a\u51fa\u57fa\u672c\u7684\u6295\u8d44\u8005\u4fdd\u969c\u63aa\u65bd\uff0c\u5e76\u56e0\u6b64\u4f7f\u5e02\u573a\u5f97\u5230\u4e86\u52a0\u5f3a\uff0c\u4e5f\u8bb8\u4e5f\u6b63\u662f\u56e0\u4e3a\u6709\u4e86\u8fd9\u4e9b\u63aa\u65bd\uff0c\u540e\u6765\u51fa\u73b0\u7684\u5e02\u573a\u52a8\u8361\u6240\u4ea7\u751f\u7684\u7834\u574f\u529b\u624d\u53d7\u5230\u4e86\u9650\u5236\u3002<\/FONT><\/P>\r\n

\u5230\u4e86\u4e0a\u4e2a\u4e16\u7eaa\u516b\u5341\u5e74\u4ee3\uff0c\u65e5\u672c\u548c\u53f0\u6e7e\u4e5f\u90fd\u66fe\u7ecf\u51fa\u73b0\u8fc7\u7ecf\u6d4e\u548c\u80a1\u5e02\u8fc7\u70ed\u7684\u5c40\u9762\u3002\u636eThomson Financial\u7684\u7edf\u8ba1\u6570\u636e\uff0c\u65e5\u672c\u80a1\u5e02\u57281986\u5e74\u4e00\u5ea6\u53d6\u4ee3\u7f8e\u56fd\u6210\u4e3a\u5168\u7403\u6700\u5927\u7684\u80a1\u7968\u5e02\u573a\u3002\u5f53\u65f6\uff0c\u662f\u4e00\u7cfb\u5217\u56e0\u7d20\u5171\u540c\u4fc3\u6210\u4e86\u65e5\u672c\u548c\u53f0\u6e7e\u80a1\u5e02\u7684\u6025\u5267\u4e0a\u6da8\uff1a\u571f\u5730\u4ef7\u503c\u7684\u4e0a\u5347\u3001\u516c\u53f8\u4e1a\u7ee9\u7684\u5f3a\u52b2\u3001\u8d27\u5e01\u7684\u4e0d\u65ad\u5347\u503c\u4ee5\u53ca\u4f4e\u5229\u7387\u3001\u9ad8\u50a8\u84c4\u7387\u548c\u6709\u9650\u7684\u6295\u8d44\u6e20\u9053\u7b49\uff0c\u800c\u6240\u6709\u8fd9\u4e9b\u56e0\u7d20\u5728\u4eca\u5929\u7684\u4e2d\u56fd\u53ef\u4ee5\u8bf4\u662f\u4e00\u4e2a\u4e0d\u7f3a\u3002<\/FONT><\/P>\r\n

\u5230\u4e86\u4e5d\u5341\u5e74\u4ee3\uff0c\u65e5\u672c\u548c\u53f0\u6e7e\u7684\u80a1\u5e02\u5d29\u6e83\u4e86\u3002\u53f0\u6e7e\u80a1\u5e02\u5728\u4e00\u5e74\u5185\u66b4\u8dcc79%\uff0c\u800c\u65e5\u672c\u5219\u6b65\u5165\u4e86\u957f\u671f\u7684\u4f4e\u8ff7\uff0c\u65e5\u7ecf\u6307\u6570(Nikkei Stock Average)\u76f4\u523013\u5e74\u540e\u624d\u89e6\u5e95\uff0c\u800c\u6b64\u65f6\u7684\u603b\u5e02\u503c\u53ea\u6709\u5f53\u5e74\u5cf0\u503c\u7684\u4e94\u5206\u4e4b\u4e00\u3002\u5982\u679c\u6ca1\u6709\u4f34\u968f\u80a1\u707e\u800c\u6765\u7684\u7ecf\u6d4e\u8427\u6761\uff0c\u65e5\u672c\u7684\u72b6\u51b5\u6216\u8bb8\u4f1a\u6bd4\u5b9e\u9645\u60c5\u51b5\u8981\u597d\u4e00\u4e9b\u3002\u4f46\u662f\u80a1\u707e\u4e4b\u524d\u51e0\u5e74\u7684\u7e41\u8363\u5df2\u7ecf\u4f7f\u65e5\u672c\u4e00\u8dc3\u6210\u4e3a\u4e86\u5168\u7403\u6700\u5927\u548c\u6700\u590d\u6742\u7684\u7ecf\u6d4e\u4f53\u3002\u5f53\u521d\u5b83\u82e5\u662f\u80fd\u5236\u5b9a\u51fa\u66f4\u597d\u7684\u76f8\u5173\u653f\u7b56\uff0c\u6216\u8bb8\u672c\u53ef\u4ee5\u907f\u514d\u540e\u6765\u7684\u7ecf\u6d4e\u4f4e\u8ff7\u671f\u6301\u7eed\u5982\u6b64\u957f\u7684\u65f6\u95f4\u3002<\/FONT><\/P>\r\n

\u76f4\u5230\u6700\u8fd1\uff0c\u7eb3\u65af\u8fbe\u514b\u7efc\u5408\u6307\u6570(Nasdaq Composite Index)\u4ecd\u672a\u4ece2000\u5e74\u7684\u79d1\u6280\u80a1\u6ce1\u6cab\u7834\u88c2\u6240\u4ea7\u751f\u7684\u6c89\u91cd\u6253\u51fb\u4e2d\u6062\u590d\u5143\u6c14\u3002\u7136\u800c\uff0c\u8bb8\u591a\u4eba\u76f8\u4fe1\uff0c\u4e5d\u5341\u5e74\u4ee3\u7684\u79d1\u6280\u6ce1\u6cab\u52a0\u5feb\u4e86\u79d1\u6280\u9769\u65b0\u548c\u4e92\u8054\u7f51\u7684\u666e\u53ca\uff0c\u800c\u4e14\u8fd9\u573a\u52a8\u8361\u8fd8\u8d77\u5230\u4e86\u4f18\u80dc\u52a3\u6c70\u7684\u4f5c\u7528\u3002<\/FONT><\/P>\r\n

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\u4f46\u9274\u4e8e\u4e0a\u767e\u4e07\u65b0\u80a1\u6c11\u76ee\u524d\u4ecd\u5728\u7ee7\u7eed\u6d8c\u5165\u5e02\u573a\u7684\u73b0\u5b9e\uff0c\u4e2d\u56fd\u80a1\u5e02\u8fd8\u4f1a\u8fdb\u4e00\u6b65\u6500\u5347\u3002\u636e\u7f8e\u6797(Merrill Lynch & Co.)\u7684\u6d4b\u7b97\uff0c\u76ee\u524d\u8bc1\u5238\u5728\u4e2d\u56fd\u91d1\u878d\u8d44\u4ea7\u4e2d\u6240\u5360\u6bd4\u91cd\u53ea\u670922%\u5de6\u53f3\uff0c\u8fdc\u4f4e\u4e8e\u7f8e\u56fd52%\u7684\u6c34\u5e73\u3002<\/FONT><\/P>\r\n

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\u4f46\u662f\u8bb8\u5c11\u677e\u5e76\u6ca1\u6709\u51b3\u5b9a\u81ea\u5df1\u7092\u80a1\uff0c\u800c\u662f\u9009\u62e9\u4e86\u4e00\u6761\u76f8\u5bf9\u8c28\u614e\u7684\u8def\uff0d\uff0d\u4e70\u57fa\u91d1\u3002\u4ed6\u6301\u6709\u7684\u662f\u4e00\u53ea\u7531\u7f8e\u56fd\u4fdd\u5fb7\u4fe1\u91d1\u878d\u96c6\u56e2(Prudential Financial Inc.)\u53c2\u4e0e\u7ba1\u7406\u7684\u57fa\u91d1\u3002<\/FONT><\/P>\r\n

\u8bb8\u5c11\u677e\u8bf4\uff0c\u81ea\u5df1\u7684\u77e5\u8bc6\u548c\u6280\u80fd\u90fd\u8fd8\u8fbe\u4e0d\u5230\u7092\u80a1\u7684\u6c34\u5e73\uff0c\u6240\u4ee5\u624d\u9009\u62e9\u57fa\u91d1\u3002\u6b63\u662f\u56e0\u4e3a\u6709\u8bb8\u591a\u8bb8\u591a\u50cf\u8bb8\u5c11\u677e\u4e00\u6837\u7684\u6295\u8d44\u8005\uff0c\u4fdd\u5fb7\u4fe1\u6301\u80a133%\u7684\u5149\u5927\u4fdd\u5fb7\u4fe1\u57fa\u91d1\u7ba1\u7406\u6709\u9650\u516c\u53f8(Everbright Pramerica Fund Management Co.)\u624d\u80fd\u5728\u77ed\u77ed\u4e00\u5929\u4e4b\u5185\u4e3a\u5176\u57fa\u91d1\u52df\u96c6\u52301.8\u500d\u4e8e\u76ee\u6807\u6c34\u5e73\u7684\u8d44\u91d1\u3002\u8be5\u57fa\u91d1\u539f\u6765\u7684\u76ee\u6807\u7b79\u8d44\u89c4\u6a21\u662f13\u4ebf\u7f8e\u5143\u3002<\/FONT><\/P>\r\n

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\u80a1\u5e02\u6700\u7ec8\u4e8e2006\u5e74\u91cd\u65b0\u542f\u52a8\uff0c\u5e76\u9996\u6b21\u5411\u6295\u8d44\u8005\u53d1\u884c\u84dd\u7b79\u80a1\u3002\u653f\u5e9c\u9f13\u52b1\u4e00\u6279\u5927\u578b\u4e2d\u56fd\u516c\u53f8\u5728\u56fd\u5185\u4e0a\u5e02\uff0c\u800c\u4e0d\u662f\u4ec5\u4ec5\u8ffd\u6c42\u6d77\u5916\u4e0a\u5e02\u3002\u9996\u5f53\u5176\u51b2\u7684\u516c\u53f8\u6709\u4e2d\u56fd\u94f6\u884c\u80a1\u4efd\u6709\u9650\u516c\u53f8(Bank of China Ltd.)\u548c\u4e2d\u56fd\u56fd\u9645\u822a\u7a7a\u80a1\u4efd\u6709\u9650\u516c\u53f8(Air China Ltd.)\u7b49\u8457\u540d\u4f01\u4e1a\u3002\u4e2d\u56fd\u6700\u5927\u768410\u5bb6\u4e0a\u5e02\u516c\u53f8\u4e2d\u76847\u5bb6\u662f\u5728\u8fc7\u53bb\u7684\u4e00\u5e74\u4e2d\u4e0a\u5e02\u7684\u3002<\/FONT><\/P>\r\n

Thomson Financial\u9884\u6d4b2007\u5e74\u4e0a\u6d77\u548c\u6df1\u5733\u8bc1\u5238\u4ea4\u6613\u6240\u5c06\u53ef\u80fd\u8fde\u7eed\u7b2c\u4e8c\u5e74\u4f4d\u5c45\u5168\u7403\u80a1\u7968\u878d\u8d44\u989d\u9996\u4f4d\uff0c\u5728\u4e0d\u5230\u4e24\u5e74\u7684\u65f6\u95f4\u5185\uff0c\u4e2d\u56fd\u80a1\u5e02\u7684\u9996\u6b21\u516c\u5f00\u52df\u80a1\u91d1\u989d\u5df2\u8fbe620\u4ebf\u7f8e\u5143\u3002<\/FONT><\/P>\r\n

\u80a1\u5e02\u5df2\u8fc5\u901f\u53d6\u4ee3\u653f\u5e9c\u6210\u4e3a\u5927\u578b\u4f01\u4e1a\u7684\u8d44\u91d1\u6765\u6e90\uff0c\u8fd9\u4e9b\u4f01\u4e1a\u5305\u62ec\u51e0\u5e74\u524d\u8fd8\u6df1\u9677\u5de8\u989d\u4e0d\u826f\u8d37\u6b3e\u6ce5\u6f6d\u7684\u94f6\u884c\u4e1a\u3002\u4e3a\u633d\u6551\u89c4\u6a21\u5e9e\u5927\u7684\u4e2d\u56fd\u5de5\u5546\u94f6\u884c\u80a1\u4efd\u6709\u9650\u516c\u53f8(Industrial & Commercial Bank Of China Ltd.)\uff0c\u4e2d\u56fd\u653f\u5e9c\u5728\u51e0\u5e74\u7684\u65f6\u95f4\u5185\u5411\u8be5\u884c\u6ce8\u5165\u6570\u767e\u4ebf\u7f8e\u5143\u7684\u8d44\u91d1\uff0c\u5e76\u4e8e2005\u5e74\u521d\u8fbe\u5230\u9876\u70b9\uff0c\u5411\u8be5\u884c\u4e00\u6b21\u6027\u6ce8\u5165\u73b0\u91d1150\u4ebf\u7f8e\u5143\u3002\u4e00\u5e74\u591a\u4e4b\u540e\uff0c\u5728\u8fc5\u901f\u53d1\u5c55\u7684\u4e0a\u6d77\u80a1\u5e02\u4e2d\uff0c\u6295\u8d44\u8005\u5e2e\u52a9\u8be5\u884c\u7b79\u96c6\u5230\u4e8659\u4ebf\u7f8e\u5143\u3002\u4e2d\u56fd\u5de5\u5546\u94f6\u884c\u7684\u9996\u6b21\u516c\u5f00\u52df\u80a1\u8fbe220\u4ebf\u7f8e\u5143\uff0c\u6210\u4e3a\u4e16\u754c\u89c4\u6a21\u6700\u5927\u7684IPO\u3002\u73b0\u5728\uff0c\u4f5c\u4e3a\u4e16\u754c\u4e0a\u5e02\u503c\u6700\u9ad8\u7684\u94f6\u884c\u4e4b\u4e00\uff0c\u4e2d\u56fd\u5de5\u5546\u94f6\u884c\u5df2\u5f00\u59cb\u8d70\u4e0a\u6536\u8d2d\u4e4b\u8def\uff0c\u73b0\u5df2\u6536\u8d2d\u5370\u5ea6\u5c3c\u897f\u4e9a\u548c\u6fb3\u95e8\u7684\u94f6\u884c\uff0c\u5e76\u8ba1\u5212\u5728\u7ebd\u7ea6\u5f00\u8bbe\u5206\u652f\u673a\u6784\u3002<\/FONT><\/P>\r\n

\u4ece\u822a\u8fd0\u3001\u4fdd\u9669\u5230\u94a2\u94c1\u7b49\u5176\u4ed6\u884c\u4e1a\u7684\u5927\u578b\u516c\u53f8\u5df2\u5229\u7528\u4ece\u80a1\u5e02\u4e0a\u7b79\u96c6\u7684\u8d44\u91d1\u6765\u6536\u8d2d\u7ade\u4e89\u5bf9\u624b\u548c\u6269\u5f20\u4e1a\u52a1\u3002\u4e2d\u56fd\u795e\u534e\u80fd\u6e90\u80a1\u4efd\u6709\u9650\u516c\u53f8(China Shenhua Energy Co. Ltd.)\u662f\u5176\u4e2d\u8131\u988d\u800c\u51fa\u7684\u4e00\u5bb6\u9887\u5177\u5f71\u54cd\u529b\u7684\u4f01\u4e1a\u96c6\u56e2\u3002\u8be5\u516c\u53f8\u7531\u51e0\u5bb6\u4e2d\u56fd\u7164\u77ff\u4f01\u4e1a\u7ec4\u6210\uff0c\u5df2\u6210\u7acb\u4e09\u5e74\u65f6\u95f4\u3002\u57289\u6708\u4efd\u7834\u7eaa\u5f55\u6027\u7684\u9996\u6b21\u516c\u5f00\u52df\u80a1\u4e2d\uff0c\u8be5\u516c\u53f8\u7b79\u96c6\u8d44\u91d177.3\u4ebf\u7f8e\u5143\u3002<\/FONT><\/P>\r\n

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\u7136\u800c\uff0c\u50cf\u82f1\u56fd\u4fdd\u8bda\u96c6\u56e2(Prudential PLC)\u8fd9\u6837\u7684\u5916\u56fd\u516c\u53f8\u6b63\u5728\u8fdb\u519b\u4e2d\u56fd\u80a1\u5e02\u3002\u5927\u7ea660\u5bb6\u9762\u5411\u4e2d\u56fd\u4e2a\u4eba\u7684\u5171\u540c\u57fa\u91d1\u9500\u552e\u516c\u53f8\u4e2d\u6709\u4e00\u534a\u662f\u4e2d\u5916\u5408\u8d44\u4f01\u4e1a\uff0c\u540c\u65f6\u50cf\u82b1\u65d7\u96c6\u56e2(Citigroup Inc.)\u8fd9\u6837\u7684\u5916\u56fd\u94f6\u884c\u4e5f\u6709\u57fa\u91d1\u53d1\u884c\u4e1a\u52a1\u3002\u4e0a\u6d77Z-Ben Advisors Ltd.\u79f0\uff0c\u622a\u81f3\u76ee\u524d\uff0c45\u53ea\u5171\u540c\u57fa\u91d1\u4eca\u5e74\u5df2\u7b79\u96c6\u8d44\u91d1\u7ea6540\u4ebf\u7f8e\u5143\u3002\u8fd9\u76f8\u5f53\u4e8e\u5e73\u5747\u6bcf\u53ea\u5171\u540c\u57fa\u91d1\u7b79\u96c612\u4ebf\u7f8e\u5143\uff0c\u8db3\u4ee5\u4f4d\u5c45\u6668\u661f\u516c\u53f8(Morningstar Inc.)\u6240\u7eaa\u5f55\u7684\u7f8e\u56fd\u53d1\u884c\u89c4\u6a21\u6700\u5927\u768422\u53ea\u5171\u540c\u57fa\u91d1\u4e4b\u5217\u3002<\/FONT><\/P>\r\n

\u829d\u52a0\u54e5\u5927\u5b66(University of Chicago)\u5546\u5b66\u7814\u7a76\u751f\u9662\u6559\u6388\u7f57\u4f2f\u7279•\u827e\u529b\u4f2f(Robert Aliber)\u8bf4\uff0c\u4e2d\u56fd\u516c\u53f8\u6700\u7ec8\u80fd\u5426\u5982\u5c45\u9ad8\u7684\u80a1\u4ef7\u6240\u9884\u793a\u7684\u90a3\u6837\u5b9e\u73b0\u51fa\u8272\u7684\u6536\u76ca\uff0c\u8fd9\u662f\u4e2a\u5927\u95ee\u9898\u3002\u4e0a\u6d77\u4e07\u5f97\u8d44\u8baf\u79d1\u6280\u6709\u9650\u516c\u53f8(Shanghai Wind Information Co.)\u8868\u793a\uff0c\u4eca\u5e74\u4e0a\u534a\u5e74\u4e2d\u56fd\u4e0a\u5e02\u516c\u53f8\u7684\u5229\u6da6\u589e\u957f\u4e8674%\uff0c\u4f46\u8fd9\u4e2a\u6570\u5b57\u6c34\u5206\u5f88\u5927\uff0c\u56e0\u4e3a\u8fd9\u4e9b\u516c\u53f8\u51c0\u6536\u5165\u603b\u989d\u768438%\u5de6\u53f3\u90fd\u6765\u81ea\u516c\u53f8\u81ea\u8eab\u5728\u80a1\u5e02\u4e0a\u7684\u6295\u8d44\uff0c\u800c\u5e76\u975e\u6765\u81ea\u5176\u4e1a\u52a1\u589e\u957f\u3002<\/FONT><\/P>\r\n

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