{"version":"1.0","provider_name":"Fortune Insight","provider_url":"https:\/\/prime.fortuneinsight.com\/web","author_name":"\u9322\u741b","author_url":"https:\/\/prime.fortuneinsight.com\/web\/posts\/author\/chinshun","title":"\u300a\u7b56\u7565\u77ed\u6253\u300b\u9032\u968e\u7248\u554fnumber\u7b56\u7565\u5728\u640f\u751a\u9ebc\uff1f - Fortune Insight","type":"rich","width":600,"height":338,"html":"<blockquote class=\"wp-embedded-content\"><a href=\"https:\/\/prime.fortuneinsight.com\/web\/posts\/490795\">\u300a\u7b56\u7565\u77ed\u6253\u300b\u9032\u968e\u7248\u554fnumber\u7b56\u7565\u5728\u640f\u751a\u9ebc\uff1f<\/a><\/blockquote>\n<script type='text\/javascript'>\n<!--\/\/--><![CDATA[\/\/><!--\n\t\t!function(c,d){\"use strict\";var e=!1,n=!1;if(d.querySelector)if(c.addEventListener)e=!0;if(c.wp=c.wp||{},!c.wp.receiveEmbedMessage)if(c.wp.receiveEmbedMessage=function(e){var t=e.data;if(t)if(t.secret||t.message||t.value)if(!\/[^a-zA-Z0-9]\/.test(t.secret)){for(var r,a,i,s=d.querySelectorAll('iframe[data-secret=\"'+t.secret+'\"]'),n=d.querySelectorAll('blockquote[data-secret=\"'+t.secret+'\"]'),o=0;o<n.length;o++)n[o].style.display=\"none\";for(o=0;o<s.length;o++)if(r=s[o],e.source===r.contentWindow){if(r.removeAttribute(\"style\"),\"height\"===t.message){if(1e3<(i=parseInt(t.value,10)))i=1e3;else if(~~i<200)i=200;r.height=i}if(\"link\"===t.message)if(a=d.createElement(\"a\"),i=d.createElement(\"a\"),a.href=r.getAttribute(\"src\"),i.href=t.value,i.host===a.host)if(d.activeElement===r)c.top.location.href=t.value}}},e)c.addEventListener(\"message\",c.wp.receiveEmbedMessage,!1),d.addEventListener(\"DOMContentLoaded\",t,!1),c.addEventListener(\"load\",t,!1);function t(){if(!n){n=!0;for(var e,t,r=-1!==navigator.appVersion.indexOf(\"MSIE 10\"),a=!!navigator.userAgent.match(\/Trident.*rv:11\\.\/),i=d.querySelectorAll(\"iframe.wp-embedded-content\"),s=0;s<i.length;s++){if(!(e=i[s]).getAttribute(\"data-secret\"))t=Math.random().toString(36).substr(2,10),e.src+=\"#?secret=\"+t,e.setAttribute(\"data-secret\",t);if(r||a)(t=e.cloneNode(!0)).removeAttribute(\"security\"),e.parentNode.replaceChild(t,e)}}}}(window,document);\n\/\/--><!]]>\n<\/script><iframe sandbox=\"allow-scripts\" security=\"restricted\" src=\"https:\/\/prime.fortuneinsight.com\/web\/posts\/490795\/embed\" width=\"600\" height=\"338\" title=\"&#8220;\u300a\u7b56\u7565\u77ed\u6253\u300b\u9032\u968e\u7248\u554fnumber\u7b56\u7565\u5728\u640f\u751a\u9ebc\uff1f&#8221; &#8212; Fortune Insight\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\" class=\"wp-embedded-content\"><\/iframe>","thumbnail_url":"https:\/\/prime.fortuneinsight.com\/web\/wp-content\/uploads\/2020\/10\/trump_is_back.jpg","thumbnail_width":2000,"thumbnail_height":1306,"description":"\u904e\u4e86\u518d\u591a\u80a1\u707d\uff0c\u9999\u6e2f\u554fnumber\u7684\u6563\u6236\u4f9d\u820a\u773e\u591a\uff0c\u7092\u6cd5\u55ae\u8abf\uff0c\u5927\u591a\u90fd\u662f\u500b\u80a1\uff08\u975eETF\uff09long only\u3002\u5df2\u5728\u4e0d\u540c\u6e20\u9053\u63d0\u904e\u7232\u4f55long only\u975e\u5e38\u5371\u96aa\uff0c\u5728\u6b64\u4e0d\u8d05\u3002\u9019\u6b21\u60f3\u8a0e\u8ad6\u4e0b\u65e5\u5e38\u89c0\u5bdf\u5230\u7684\u6563\u6236\u65b0\u7092\u6cd5\u3002 \u8a0e\u8ad6\u524d\uff0c\u5148\u6dfa\u8ac7\u7cbe\u82f1\u5927\u6236\u5982\u4f55\u770b\u8cb7number\u3002\u5728desk\u4e2d\u4e0d\u6642\u6703\u807d\u5230\u524d\u8f29\u63d0\u53ca\u4e0d\u5c11\u71b1\u9580number\uff0c\u4ea6\u6709\u81ea\u5df1\u770b\u6cd5\uff0c\u4f46\u5927\u591a\u505c\u7559\u5728\u8a0e\u8ad6\u5c64\u9762\u3002\u8981\u8cfa\u9322\uff0c\u4ed6\u5011\u59cb\u7d42\u53ea\u7528\u6709\u56de\u6e2c\u7684\u7b56\u7565\uff0c\u6216\u56e0edge\u800c\u80fd\u63a5\u8fd1\u7121\u98a8\u96aa\u7372\u5229\u7684\u7b56\u7565\uff0c\u4f8b\u5982\u4e00\u4e9b\u6210\u672c\u6bd4\u4e00\u822c\u6563\u6236\u4f4e\u6975\u591a\u7684\u6307\u6578\u73fe\u8ca8\u8207\u671f\u8ca8\u5957\u6225\uff08\u7d71\u7a31index arbitrage\uff09\u3002 \u500b\u80a1long only\u7d93\u5e38\u8f38\u9322\uff0c\u6709\u4e9b\u6563\u80a1\u5c31\u958b\u59cb\u505a\u65b0\u7b56\u7565\u3002\u7d93\u6b77\u4e2d\u6700\u591a\u4eba\u8ac7\u53ca\u7684\uff0c\u662flong\u67d0\u500b\u80a1\uff0c\u518dshort HSI futures\u5c0d\u6c96\u3002\u4e0d\u904e\uff0c\u5927\u591a\u90fd\u4e0d\u77e5\u9053\u81ea\u5df1\u5728\u4ea4\u6613\u751a\u9ebc\uff0c\u6216\u8981\u9054\u5230\u751a\u9ebc\u689d\u4ef6\u624d\u80fd\u7372\u5229\uff0c\u63db\u53e5\u8a71\u8aac\uff0c\u300c\u5514\u77e5\u640f\u7dca\u54a9\u300d\u3002 \u95dc\u65bc\u9019\u7a2e\u7b56\u7565\uff0c\u6709\u5e7e\u9ede\u8981\u63d0\u3002\u4e00\uff0clong\u500b\u80a1short\u671f\u8ca8\u4e26\u975e\u5b8c\u5168\u5c0d\u6c96\uff08perfect hedge\uff09\u3002\u82e5\u7b56\u7565\u662f\u5b8c\u5168\u5c0d\u6c96\u7684\u8a71\uff0c\u8cc7\u7522\u50f9\u683c\u6ce2\u5e45\u5982\u4f55\uff0c\u4f60\u7684PnL\u90fd\u662f\u56fa\u5b9a\u7684\uff0c\u4e00\u822c\u6563\u6236\u5927\u591a\u53ea\u6709\u8ca0\u6578\u7684PnL\u3002 \u76f8\u53cd\uff0c\u9019\u7a2e\u7b56\u7565\u672c\u8cea\u4e0a\u662f\u76f8\u5c0d\u50f9\u503c\u4ea4\u6613\uff08relative value trading\uff09\u3002\u6700\u8457\u540d\u7684\u4f8b\u5b50\u662f\u914d\u5c0d\u4ea4\u6613\uff08pairs trading\uff09\uff0c\u64cd\u4f5c\u662f\u627e\u5169\u96bb\u9ad8\u76f8\u95dc\u6027\u8cc7\u7522\u9032\u884c\u4ea4\u6613\uff0c\u5169\u8005\u50f9\u503c\u504f\u96e2\u5f97\u592a\u9060\uff0clong\u5e73short\u8cb4\uff0c\u640f\u5169\u8005\u50f9\u683c\u5747\u503c\u56de\u6b78\uff08mean reverting\uff09\u3002\u4f46\u662f\uff0clong\u500b\u80a1short\u671f\u8ca8\u5247\u662f\u640f\u500b\u80a1\u6bd4\u671f\u8ca8\u7684\u76f8\u5c0d\u50f9\u503c\u5347\u3002\u53ea\u8981\u9054\u5230\u4ee5\u4e0b\u4e09\u7a2e\u60c5\u6cc1\u7684\u4efb\u4f55\u4e00\u7a2e\uff0c\u90fd\u80fd\u7372\u5229\uff1a \u500b\u80a1\u53ca\u671f\u8ca8\u9f4a\u5347\uff0c\u800c\u500b\u80a1\u6bd4\u671f\u8ca8\u6709\u66f4\u9ad8\u7684\u5347\u5e45\u767e\u5206\u6bd4 \u500b\u80a1\u53ca\u671f\u8ca8\u9f4a\u8dcc\uff0c\u4f46\u500b\u80a1\u8dcc\u5e45\u767e\u5206\u6bd4\u6bd4\u671f\u8ca8\u4f4e \u500b\u80a1\u5347\u800c\u671f\u8ca8\u8dcc \u56e0\u6b64\uff0c\u9019\u7a2e\u5009\u4f4d\u5be6\u969b\u4e0a\u662f\u640f\u500b\u80a1\u6bd4\u671f\u8ca8\u7684\u76f8\u5c0d\u50f9\u503c\u5347\uff0c\u800c\u975e\u76f4\u63a5\u64ad\u500b\u80a1\u80a1\u50f9\u5347\uff0c\u6574\u500b\u5009\u4ecd\u6709\u4e0b\u884c\u98a8\u96aa\u3002\u63db\u53e5\u8a71\u8aac\uff0c\u6b64\u7b56\u7565\u662f\u640f\u500b\u80a1\u6709alpha\uff0c\u7092\u5bb6\u662f\u60f3\u505aalpha capture\u3002 \u800c\u4e14\uff0c\u8eab\u908a\u4e0d\u5c11\u6563\u6236\u670b\u53cb\u56e0\u8a8d\u70ba\u6b64\u7b56\u7565\u76f8\u5c0d\u5b89\u5168\u800c\u653e\u68c4\u56de\u6e2c\uff0c\u4f46\u9019\u7a2e\u7b56\u7565\u4e00\u6a23\u53ef\u4ee5\u56de\u6e2c\u3002\u6700\u7c21\u55ae\u7684\u65b9\u6cd5\uff0c\u662f\u7528\u500b\u80a1\u5c0d\u5927\u5e02\u7684\u56de\u5831\u505a\u8ff4\u6b78\u5206\u6790\uff08regression\uff09\uff0c\u770b\u770b\u500b\u80a1\u6709\u5426alpha\uff0c\u6709\u624d\u9032\u884c\u4e0b\u4e00\u6b65\u90e8\u7f72\uff0c\u5426\u5247long\u500b\u80a1short\u671f\u8ca8\u7684\u7372\u5229\u6a5f\u6703\u7d55\u5c0d\u4e0d\u9ad8\u3002 \u90fd\u662f\u90a3\u53e5\uff0c\u4e16\u4e0a\u6c92\u6709\u514d\u8cbb\u5348\u9910\uff0c\u4e0d\u8981\u8f15\u6613\u76f8\u4fe1\u6709\u4ee4\u4f60\u53ef\u4e00\u65e5\u767c\u9054\u7684\u4ea4\u6613\u8056\u676f\u3002"}