## \u65b0\u95fb\u00b7\u7cbe\u9009\u7b80\u62a5<\/p>\n
* **\u4e3a\u4f55\u77f3\u6cb9\u671f\u8d27\u4ef7\u683c\u663e\u8457\u4f4e\u4e8e\u73b0\u8d27\u5e02\u573a\u4ef7\u683c\uff1f**
\n > \u7ec6\u8282\uff1a\u5f53\u524d\u539f\u6cb9\u671f\u8d27\u5e02\u573a\u51fa\u73b0\u6df1\u5ea6\u8d34\u6c34\uff08Backwardation\uff09\u7ed3\u6784\u3002\u5206\u6790\u6307\u51fa\uff0c\u5168\u7403\u5730\u7f18\u653f\u6cbb\u4e0d\u786e\u5b9a\u6027\u5bfc\u81f4\u5b9e\u7269\u5e02\u573a\u4f9b\u5e94\u5403\u7d27\uff0c\u800c\u671f\u8d27\u4ea4\u6613\u8005\u56e0\u5b8f\u89c2\u7ecf\u6d4e\u5fe7\u8651\u629b\u552e\u5408\u7ea6\uff0c\u81f4\u4f7f\u8fdc\u671f\u4ef7\u683c\u65e0\u6cd5\u771f\u5b9e\u53cd\u6620\u5f53\u524d\u7684\u7d27\u7f3a\u4f9b\u9700\u73b0\u72b6\u3002<\/p>\n
* **\u7279\u6717\u666e\u5ba3\u79f0\u4ee5\u8272\u5217\u4e0e\u9ece\u5df4\u5ae9\u5df2\u540c\u610f10\u5929\u505c\u706b**
\n > \u7ec6\u8282\uff1a\u7279\u6717\u666e\u58f0\u79f0\u5728\u4e2d\u4e1c\u5c40\u52bf\u4e0a\u53d6\u5f97\u5916\u4ea4\u8fdb\u5c55\uff0c\u79f0\u53cc\u65b9\u5df2\u8fbe\u621010\u5929\u505c\u706b\u534f\u8bae\u3002\u5e02\u573a\u5bf9\u6b64\u4fdd\u6301\u8c28\u614e\uff0c\u6295\u8d44\u8005\u6b63\u5728\u5bc6\u5207\u89c2\u5bdf\u5b9e\u9645\u505c\u706b\u662f\u5426\u80fd\u843d\u5b9e\uff0c\u4ee5\u53ca\u6b64\u4e3e\u5bf9\u80fd\u6e90\u4ef7\u683c\u7684\u6f5c\u5728\u5e73\u6291\u4f5c\u7528\u3002<\/p>\n
* **280\u4ebf\u7f8e\u5143\u8eab\u4ef7\u7684\u8428\u5f17\u62c9\u5bb6\u65cf\u8058\u4efb\u65b0\u5bb6\u65cf\u529e\u516c\u5ba4CEO**
\n > \u7ec6\u8282\uff1a\u62e5\u6709280\u4ebf\u7f8e\u5143\u8d22\u5bcc\u7684\u8428\u5f17\u62c9\uff08Safra\uff09\u94f6\u884c\u4e1a\u738b\u671d\u8fd1\u671f\u8c03\u6574\u5bb6\u65cf\u529e\u516c\u5ba4\u9886\u5bfc\u5c42\u3002\u6b64\u4e3e\u65e8\u5728\u5e94\u5bf9\u5168\u7403\u5b8f\u89c2\u6ce2\u52a8\uff0c\u4f18\u5316\u5176\u8de8\u56fd\u8d44\u4ea7\u914d\u7f6e\u53ca\u4f20\u627f\u67b6\u6784\uff0c\u51f8\u663e\u8d85\u7ea7\u5bcc\u8c6a\u5bb6\u65cf\u5bf9\u8d22\u5bcc\u7ba1\u7406\u4e13\u4e1a\u5316\u7684\u9ad8\u8981\u6c42\u3002<\/p>\n
* **\u6b27\u76df\u5b98\u5458\u5c06\u4e0e\u5308\u7259\u5229\u6f5c\u5728\u7ee7\u4efb\u8005\u4f1a\u8c08\uff0c\u6b27\u5c14\u73ed\u7f3a\u5e2d\u5cf0\u4f1a**
\n > \u7ec6\u8282\uff1a\u5308\u7259\u5229\u603b\u7406\u6b27\u5c14\u73ed\u7f3a\u5e2d\u8fd1\u671f\u6b27\u76df\u5173\u952e\u5cf0\u4f1a\uff0c\u5f15\u53d1\u6b27\u76df\u9ad8\u5c42\u4e0d\u6ee1\u3002\u5e03\u9c81\u585e\u5c14\u6b63\u5bfb\u6c42\u4e0e\u5308\u7259\u5229\u56fd\u5185\u53cd\u5bf9\u6d3e\u53ca\u6f5c\u5728\u9886\u5bfc\u5c42\u63a5\u89e6\uff0c\u8bd5\u56fe\u5316\u89e3\u53cc\u8fb9\u5728\u4e4c\u514b\u5170\u63f4\u52a9\u53ca\u653f\u7b56\u6267\u884c\u4e0a\u7684\u4e25\u91cd\u5206\u6b67\u3002<\/p>\n
* **\u6b27\u6d32\u6c7d\u8f66\u5fc3\u810f\u5730\u5e26\u73b0\u91d1\u6d41\u81ea2019\u5e74\u4ee5\u6765\u8fd1\u4e4e\u51cf\u534a**
\n > \u7ec6\u8282\uff1a\u53d7\u5411\u7535\u52a8\u5316\u8f6c\u578b\u6210\u672c\u589e\u52a0\u3001\u4f9b\u5e94\u94fe\u65ad\u88c2\u53ca\u6d88\u8d39\u9700\u6c42\u75b2\u8f6f\u5f71\u54cd\uff0c\u5fb7\u56fd\u7b49\u6b27\u6d32\u6c7d\u8f66\u5236\u9020\u4e2d\u5fc3\u73b0\u91d1\u6d41\u5927\u5e45\u840e\u7f29\uff0c\u4ea7\u4e1a\u5229\u6da6\u7387\u906d\u53d7\u5386\u53f2\u6027\u538b\u7f29\uff0c\u5f15\u53d1\u5bf9\u6b27\u6d32\u5236\u9020\u4e1a\u7a7a\u5fc3\u5316\u7684\u6df1\u5ea6\u62c5\u5fe7\u3002<\/p>\n
* **\u79c1\u52df\u4fe1\u8d37\u57fa\u91d1\u5728\u94f6\u884c\u62b5\u62bc\u54c1\u7f6e\u6362\u4e2d\u627f\u53d7\u66f4\u5927\u538b\u529b**
\n > \u7ec6\u8282\uff1a\u968f\u7740\u94f6\u884c\u52a0\u5f3a\u4fe1\u8d37\u98ce\u9669\u7ba1\u7406\uff0c\u79c1\u52df\u4fe1\u8d37\u57fa\u91d1\u9762\u4e34\u66f4\u4e25\u683c\u7684\u62b5\u62bc\u54c1\u8981\u6c42\u3002\u8fd9\u79cd\u6d41\u52a8\u6027\u7ea6\u675f\u8feb\u4f7f\u975e\u94f6\u884c\u501f\u8d37\u673a\u6784\u8c03\u6574\u8d44\u4ea7\u8d1f\u503a\u8868\uff0c\u90e8\u5206\u9ad8\u6760\u6746\u9879\u76ee\u53ef\u80fd\u88ab\u8feb\u8fdd\u7ea6\u6216\u8fdb\u884c\u4e8c\u6b21\u91cd\u7ec4\u3002<\/p>\n
* **\u524dNBA\u7403\u661f\u8fbe\u8499\u00b7\u743c\u65af\u62df\u5c31\u8d4c\u535a\u6848\u8ba4\u7f6a**
\n > \u7ec6\u8282\uff1a\u524dNBA\u7403\u5458\u8fbe\u8499\u00b7\u743c\u65af\u56e0\u6d89\u53ca\u975e\u6cd5\u8d4c\u535a\u6848\u4ef6\uff0c\u9884\u8ba1\u5c06\u5728\u6cd5\u5ead\u4e0a\u7b7e\u7f72\u8ba4\u7f6a\u534f\u8bae\u3002\u6b64\u6848\u662f\u8fd1\u5e74\u6765\u4f53\u80b2\u4ea7\u4e1a\u4e0e\u53cd\u6d17\u94b1\u76d1\u7ba1\u8c03\u67e5\u7684\u5ef6\u4f38\uff0c\u518d\u6b21\u5f15\u53d1\u5bf9\u804c\u4e1a\u4f53\u80b2\u4e0e\u8d4c\u535a\u535a\u5f69\u754c\u9650\u7684\u5173\u6ce8\u3002<\/p>\n
* **\u4e39\u683c\u7279\u8ba1\u5212\u5728\u975e\u6d32\u901a\u8fc7IPO\u51fa\u552e\u70bc\u6cb9\u5382\u7ea610%\u80a1\u6743**
\n > \u7ec6\u8282\uff1a\u5c3c\u65e5\u5229\u4e9a\u9996\u5bcc\u4e39\u683c\u7279\u65d7\u4e0b\u7684\u70bc\u6cb9\u5382\u6b63\u5bfb\u6c42\u8d44\u672c\u6269\u5f20\uff0c\u8ba1\u5212\u901a\u8fc7\u975e\u6d32\u591a\u56fd\u4ea4\u6613\u6240\u4e0a\u5e02\u51fa\u552e10%\u80a1\u6743\u3002\u6b64\u4e3e\u65e8\u5728\u6539\u5584\u8d44\u4ea7\u8d1f\u503a\u8868\uff0c\u5e76\u5229\u7528\u975e\u6d32\u7edf\u4e00\u5e02\u573a\u7684\u89c4\u6a21\u6548\u5e94\u63d0\u5347\u4f01\u4e1a\u4f30\u503c\u3002<\/p>\n
* **\u82b1\u65d7\uff1a\u5357\u975e\u4ecd\u6709\u7a7a\u95f4\u5ef6\u957f\u4ef7\u503c7.32\u4ebf\u7f8e\u5143\u7684\u71c3\u6cb9\u8865\u8d34**
\n > \u7ec6\u8282\uff1a\u82b1\u65d7\u94f6\u884c\u62a5\u544a\u6307\u51fa\uff0c\u57fa\u4e8e\u5357\u975e\u76ee\u524d\u7684\u8d22\u653f\u8d64\u5b57\u53ca\u901a\u80c0\u9884\u671f\uff0c\u653f\u5e9c\u4ecd\u6709\u7a7a\u95f4\u5c06\u71c3\u6cb9\u8865\u8d34\u5ef6\u957f\u81f3\u660e\u5e74\uff0c\u6b64\u4e3e\u6709\u52a9\u4e8e\u7f13\u89e3\u77ed\u671f\u793e\u4f1a\u901a\u80c0\u538b\u529b\uff0c\u4f46\u957f\u671f\u770b\u5bf9\u8d22\u653f\u7eaa\u5f8b\u6784\u6210\u6311\u6218\u3002<\/p>\n
* **\u6c99\u7279\u8981\u6c42\u4f53\u80b2\u4ea7\u4e1a\u5b9e\u73b0\u76c8\u5229\uff0cLIV\u9ad8\u5c14\u592b\u524d\u666f\u9634\u4e91\u5bc6\u5e03**
\n > \u7ec6\u8282\uff1a\u6c99\u7279\u4e3b\u6743\u8d22\u5bcc\u57fa\u91d1\uff08PIF\uff09\u6b63\u5bf9\u5176\u4f53\u80b2\u6295\u8d44\u7b56\u7565\u8fdb\u884c\u6218\u7565\u8f6c\u79fb\uff0c\u8981\u6c42\u6b64\u524d\u5de8\u989d\u70e7\u94b1\u7684\u4f53\u80b2\u8d44\u4ea7\uff08\u5982LIV\u9ad8\u5c14\u592b\uff09\u8bc1\u660e\u5176\u5546\u4e1a\u76c8\u5229\u80fd\u529b\uff0c\u8fd9\u53ef\u80fd\u5bfc\u81f4\u5176\u7f29\u51cf\u6295\u8d44\u89c4\u6a21\u5e76\u91cd\u65b0\u8bc4\u4f30\u5546\u4e1a\u5316\u8def\u7ebf\u3002<\/p>\n
—<\/p>\n
### \u884c\u60c5\u5206\u6790<\/p>\n
\u5f53\u524d\u5e02\u573a\u60c5\u7eea\u5448\u73b0**\u201c\u5730\u7f18\u535a\u5f08\u201d\u4e0e\u201c\u6d41\u52a8\u6027\u7d27\u7f29\u201d\u7684\u53cc\u91cd\u6324\u538b**\uff1a<\/p>\n
1. **\u80fd\u6e90\u4e0e\u5730\u7f18\u653f\u6cbb\u5173\u8054**\uff1a\u7279\u6717\u666e\u7684\u4e2d\u4e1c\u505c\u706b\u8a00\u8bba\u82e5\u80fd\u843d\u5730\uff0c\u5c06\u663e\u8457\u7f13\u89e3\u539f\u6cb9\u5e02\u573a\u7684\u6ea2\u4ef7\u538b\u529b\uff0c\u6cb9\u4ef7\u77ed\u671f\u6ce2\u52a8\u6027\u9884\u8ba1\u589e\u52a0\u3002\u4e0e\u6b64\u540c\u65f6\uff0c\u671f\u8d27\u4e0e\u73b0\u8d27\u7684\u4ef7\u683c\u80cc\u79bb\u53cd\u6620\u4e86\u673a\u6784\u6295\u8d44\u8005\u5bf9\u7ecf\u6d4e\u8870\u9000\u7684\u9632\u5fa1\u5fc3\u6001\uff0c\u7f8e\u80a1\u80fd\u6e90\u677f\u5757\u53ef\u80fd\u9762\u4e34\u9636\u6bb5\u6027\u8c03\u6574\u3002
\n2. **\u6d41\u52a8\u6027\u98ce\u9669\u4f20\u5bfc**\uff1a\u79c1\u52df\u4fe1\u8d37\uff08Private Credit\uff09\u88ab\u94f6\u884c\u6324\u538b\u7684\u60c5\u51b5\u662f\u7f8e\u80a1\u5e02\u573a\u5f53\u524d\u88ab\u4f4e\u4f30\u7684\u98ce\u9669\u70b9\u3002\u4e00\u65e6\u975e\u94f6\u884c\u673a\u6784\u56e0\u62b5\u62bc\u54c1\u538b\u529b\u88ab\u8feb\u629b\u552e\u8d44\u4ea7\uff0c\u5c06\u76f4\u63a5\u6253\u51fb\u9ad8\u6760\u6746\u7684\u4e2d\u5c0f\u5e02\u503c\u516c\u53f8\uff0c\u8fdb\u800c\u5f71\u54cd\u7f8e\u80a1\u5e02\u573a\u7684\u6d41\u52a8\u6027\u6ea2\u4ef7\u3002
\n3. **\u5236\u9020\u4e1a\u8870\u9000\u4fe1\u53f7**\uff1a\u6b27\u6d32\u6c7d\u8f66\u4ea7\u4e1a\u73b0\u91d1\u6d41\u8170\u65a9\uff0c\u9884\u793a\u7740\u5168\u7403\u5de5\u4e1a\u5faa\u73af\u7684\u8f6c\u5f31\u3002\u5bf9\u4e8e\u5728\u6b27\u6d32\u6709\u6df1\u5ea6\u5e03\u5c40\u7684\u6807\u666e500\u4f01\u4e1a\uff08\u5982\u6c7d\u8f66\u96f6\u90e8\u4ef6\u3001\u5de5\u4e1a\u8bbe\u5907\u5546\uff09\u800c\u8a00\uff0c\u540e\u7eed\u8d22\u62a5\u7684\u76c8\u5229\u538b\u529b\u5c06\u663e\u8457\u589e\u52a0\u3002<\/p>\n
**\u6295\u8d44\u5efa\u8bae**\uff1a\u5efa\u8bae\u6295\u8d44\u8005\u91cd\u70b9\u5173\u6ce8\u975e\u94f6\u884c\u91d1\u878d\u673a\u6784\u7684\u98ce\u9669\u655e\u53e3\uff0c\u5e76\u5bf9\u4f9d\u8d56\u4f20\u7edf\u80fd\u6e90\u4e0e\u6b27\u6d32\u5236\u9020\u4e1a\u7684\u4f01\u4e1a\u4fdd\u6301\u9632\u5fa1\u6027\u4ed3\u4f4d\u3002\u5982\u679c\u505c\u706b\u534f\u8bae\u6b63\u5f0f\u786e\u7acb\uff0c\u53ef\u5173\u6ce8\u822a\u8fd0\u4e0e\u822a\u7a7a\u677f\u5757\u7684\u8fb9\u9645\u4fee\u590d\u903b\u8f91\u3002<\/p>\n","protected":false},"excerpt":{"rendered":"
## \u65b0\u95fb\u00b7\u7cbe\u9009\u7b80\u62a5 * **\u4e3a\u4f55\u77f3\u6cb9\u671f\u8d27\u4ef7\u683c\u663e\u8457\u4f4e\u4e8e\u73b0\u8d27\u5e02\u573a\u4ef7\u683c\uff1f** > \u7ec6\u8282\uff1a\u5f53\u524d\u539f\u6cb9\u671f\u8d27\u5e02\u573a\u51fa\u73b0\u6df1\u5ea6\u8d34 […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-162","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/sammywu.me\/index.php?rest_route=\/wp\/v2\/posts\/162","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sammywu.me\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sammywu.me\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sammywu.me\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/sammywu.me\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=162"}],"version-history":[{"count":0,"href":"https:\/\/sammywu.me\/index.php?rest_route=\/wp\/v2\/posts\/162\/revisions"}],"wp:attachment":[{"href":"https:\/\/sammywu.me\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=162"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sammywu.me\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=162"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sammywu.me\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=162"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}