{"id":11564,"date":"2026-03-08T12:13:24","date_gmt":"2026-03-08T04:13:24","guid":{"rendered":"https:\/\/www.invbus.com\/blog\/?p=11564"},"modified":"2026-03-08T12:13:24","modified_gmt":"2026-03-08T04:13:24","slug":"%e8%a7%a3%e8%af%bb%e6%9c%89%e6%95%88%e5%b8%82%e5%9c%ba%e5%81%87%e8%af%b4","status":"publish","type":"post","link":"https:\/\/www.invbus.com\/blog\/?p=11564","title":{"rendered":"\u89e3\u8bfb\u6709\u6548\u5e02\u573a\u5047\u8bf4"},"content":{"rendered":"\n<p><strong><a href=\"https:\/\/zhida.zhihu.com\/search?content_id=205648302&amp;content_type=Article&amp;match_order=1&amp;q=%E6%9C%89%E6%95%88%E5%B8%82%E5%9C%BA%E5%81%87%E8%AF%B4&amp;zhida_source=entity\" target=\"_blank\" rel=\"noreferrer noopener\">\u6709\u6548\u5e02\u573a\u5047\u8bf4<\/a>\u7b80\u4ecb<\/strong><\/p>\n\n\n\n<p><a href=\"https:\/\/zhida.zhihu.com\/search?content_id=205648302&amp;content_type=Article&amp;match_order=1&amp;q=%E5%B0%A4%E9%87%91%E6%B3%95%E7%8E%9B&amp;zhida_source=entity\" target=\"_blank\" rel=\"noreferrer noopener\">\u5c24\u91d1\u6cd5\u739b<\/a>\u57281970\u5e74\u63d0\u51fa\u4e86\u2018\u6709\u6548\u5e02\u573a\u5047\u8bf4\u2019\uff08Efficient Markets Hypothesis\uff0c\u7b80\u79f0<strong>EMH<\/strong>\uff09\u5e76\u56e0\u6b64\u57282013\u5e74\u83b7\u5f97<a href=\"https:\/\/zhida.zhihu.com\/search?content_id=205648302&amp;content_type=Article&amp;match_order=1&amp;q=%E8%AF%BA%E8%B4%9D%E5%B0%94%E7%BB%8F%E6%B5%8E%E5%AD%A6%E5%A5%96&amp;zhida_source=entity\" target=\"_blank\" rel=\"noreferrer noopener\">\u8bfa\u8d1d\u5c14\u7ecf\u6d4e\u5b66\u5956<\/a>\u3002<\/p>\n\n\n\n<p>\u6709\u6548\u5e02\u573a\u5047\u8bf4\u8ba4\u4e3a\uff1a\u5728\u6cd5\u5f8b\u5065\u5168\u3001\u529f\u80fd\u826f\u597d\u3001\u900f\u660e\u5ea6\u9ad8\u3001\u7ade\u4e89\u5145\u5206\u7684\u80a1\u7968\u5e02\u573a\uff0c\u4e00\u5207\u6709\u4ef7\u503c\u7684\u4fe1\u606f\u5df2\u7ecf\u53ca\u65f6\u3001\u51c6\u786e\u3001\u5145\u5206\u5730\u53cd\u6620\u5728\u80a1\u4ef7\u8d70\u52bf\u5f53\u4e2d\uff0c\u5176\u4e2d\u5305\u62ec\u4f01\u4e1a\u5f53\u524d\u548c\u672a\u6765\u7684\u4ef7\u503c\uff0c\u9664\u975e\u5b58\u5728\u5e02\u573a\u64cd\u7eb5\uff0c\u5426\u5219\u6295\u8d44\u8005\u4e0d\u53ef\u80fd\u901a\u8fc7\u5206\u6790\u4ee5\u5f80\u4ef7\u683c\u83b7\u5f97\u9ad8\u4e8e\u5e02\u573a\u5e73\u5747\u6c34\u5e73\u7684<strong>\u8d85\u989d\u5229\u6da6<\/strong>\u3002<\/p>\n\n\n\n<p>\u5f53\u7136\uff0c\u6709\u6548\u5e02\u573a\u5047\u8bf4\u8fd8\u6709\u4e00\u4e2a\u5907\u53d7\u4e89\u8bae\u7684\u524d\u63d0\uff1a\u53c2\u4e0e\u5e02\u573a\u7684\u6295\u8d44\u8005\u6709\u8db3\u591f\u7684\u7406\u6027\uff0c\u5e76\u4e14\u80fd\u591f\u8fc5\u901f\u5bf9\u6240\u6709\u5e02\u573a\u4fe1\u606f\u4f5c\u51fa\u5408\u7406\u53cd\u5e94\u3002<\/p>\n\n\n\n<figure class=\"wp-block-image\"><div class='fancybox-wrapper lazyload-container-unload' data-fancybox='post-images' href='https:\/\/pic2.zhimg.com\/v2-ff683775e049d46ad0a3ddd1d6f2031d_1440w.jpg'><img class=\"lazyload lazyload-style-1\" src=\"data:image\/svg+xml;base64,PCEtLUFyZ29uTG9hZGluZy0tPgo8c3ZnIHdpZHRoPSIxIiBoZWlnaHQ9IjEiIHhtbG5zPSJodHRwOi8vd3d3LnczLm9yZy8yMDAwL3N2ZyIgc3Ryb2tlPSIjZmZmZmZmMDAiPjxnPjwvZz4KPC9zdmc+\"  decoding=\"async\" data-original=\"https:\/\/pic2.zhimg.com\/v2-ff683775e049d46ad0a3ddd1d6f2031d_1440w.jpg\" src=\"data:image\/png;base64,iVBORw0KGgoAAAANSUhEUgAAAAEAAAABCAYAAAAfFcSJAAAAAXNSR0IArs4c6QAAAARnQU1BAACxjwv8YQUAAAAJcEhZcwAADsQAAA7EAZUrDhsAAAANSURBVBhXYzh8+PB\/AAffA0nNPuCLAAAAAElFTkSuQmCC\" alt=\"\"\/><\/div><\/figure>\n\n\n\n<p>\u6709\u6548\u5e02\u573a\u6709\u4ee5\u4e0b\u4e09\u79cd\u8868\u73b0\u5f62\u5f0f\uff1a<\/p>\n\n\n\n<p>\u4e00\u3001<strong><a href=\"https:\/\/zhida.zhihu.com\/search?content_id=205648302&amp;content_type=Article&amp;match_order=1&amp;q=%E5%BC%B1%E5%BC%8F%E6%9C%89%E6%95%88%E5%B8%82%E5%9C%BA%E5%81%87%E8%AF%B4&amp;zhida_source=entity\" target=\"_blank\" rel=\"noreferrer noopener\">\u5f31\u5f0f\u6709\u6548\u5e02\u573a\u5047\u8bf4<\/a><\/strong>(Weak-Form Market Efficiency)<\/p>\n\n\n\n<p>\u8be5\u5047\u8bf4\u8ba4\u4e3a\u5728\u5f31\u5f0f\u6709\u6548\u7684\u60c5\u51b5\u4e0b\uff0c\u5e02\u573a\u4ef7\u683c\u5df2\u5145\u5206\u53cd\u6620\u51fa\u6240\u6709\u8fc7\u53bb\u5386\u53f2\u7684\u8bc1\u5238\u4ef7\u683c\u4fe1\u606f\uff0c\u5305\u62ec\u80a1\u7968\u7684\u6210\u4ea4\u4ef7\u3001\u6210\u4ea4\u91cf\uff0c\u5356\u7a7a\u91d1\u989d\u3001\u878d\u8d44\u91d1\u989d\u7b49\uff1b<\/p>\n\n\n\n<p>\u56e0\u6b64\u800c\u5f97\u5230\u7684\u63a8\u8bba\u4e00\uff1a\u5982\u679c\u5f31\u5f0f\u6709\u6548\u5e02\u573a\u5047\u8bf4\u6210\u7acb\uff0c\u5219\u80a1\u7968\u4ef7\u683c\u7684\u6280\u672f\u5206\u6790\u5931\u53bb\u4f5c\u7528\uff0c\u57fa\u672c\u5206\u6790\u8fd8\u53ef\u80fd\u5e2e\u52a9\u6295\u8d44\u8005\u83b7\u5f97\u8d85\u989d\u5229\u6da6.\u3002<\/p>\n\n\n\n<p>\u4e8c\u3001<strong><a href=\"https:\/\/zhida.zhihu.com\/search?content_id=205648302&amp;content_type=Article&amp;match_order=1&amp;q=%E5%8D%8A%E5%BC%BA%E5%BC%8F%E6%9C%89%E6%95%88%E5%B8%82%E5%9C%BA%E5%81%87%E8%AF%B4&amp;zhida_source=entity\" target=\"_blank\" rel=\"noreferrer noopener\">\u534a\u5f3a\u5f0f\u6709\u6548\u5e02\u573a\u5047\u8bf4<\/a><\/strong>(Semi-Strong-Form Market Efficiency)<\/p>\n\n\n\n<p>\u8be5\u5047\u8bf4\u8ba4\u4e3a\u4ef7\u683c\u5df2\u5145\u5206\u53cd\u6620\u51fa\u6240\u6709\u5df2\u516c\u5f00\u7684\u6709\u5173\u516c\u53f8\u8425\u8fd0\u524d\u666f\u7684\u4fe1\u606f\u3002\u8fd9\u4e9b\u4fe1\u606f\u6709\u6210\u4ea4\u4ef7\u3001\u6210\u4ea4\u91cf\u3001\u76c8\u5229\u8d44\u6599\u3001\u76c8\u5229\u9884\u6d4b\u503c\u3001\u516c\u53f8\u7ba1\u7406\u72b6\u51b5\u53ca\u5176\u5b83\u516c\u5f00\u62ab\u9732\u7684\u8d22\u52a1\u4fe1\u606f\u7b49\u3002\u5047\u5982\u6295\u8d44\u8005\u80fd\u8fc5\u901f\u83b7\u5f97\u8fd9\u4e9b\u4fe1\u606f\uff0c\u80a1\u4ef7\u5e94\u8fc5\u901f\u4f5c\u51fa\u53cd\u5e94\u3002<\/p>\n\n\n\n<p>\u63a8\u8bba\u4e8c\uff1a\u5982\u679c\u534a\u5f3a\u5f0f\u6709\u6548\u5047\u8bf4\u6210\u7acb\uff0c\u5728\u5e02\u573a\u4e2d\u5229\u7528<a href=\"https:\/\/zhida.zhihu.com\/search?content_id=205648302&amp;content_type=Article&amp;match_order=1&amp;q=%E5%9F%BA%E6%9C%AC%E9%9D%A2%E5%88%86%E6%9E%90&amp;zhida_source=entity\" target=\"_blank\" rel=\"noreferrer noopener\">\u57fa\u672c\u9762\u5206\u6790<\/a>\u5219\u5931\u53bb\u4f5c\u7528\uff0c\u5185\u5e55\u6d88\u606f\u53ef\u80fd\u83b7\u5f97\u8d85\u989d\u5229\u6da6\u3002<\/p>\n\n\n\n<p>\u4e09\u3001<strong>\u5f3a\u5f0f\u6709\u6548\u5e02\u573a\u5047\u8bf4<\/strong>(Strong-Form Market Efficiency)<\/p>\n\n\n\n<p>\u5f3a\u5f0f\u6709\u6548\u5e02\u573a\u5047\u8bf4\u8ba4\u4e3a\u4ef7\u683c\u5df2\u5145\u5206\u5730\u53cd\u6620\u4e86\u6240\u6709\u5173\u4e8e\u516c\u53f8\u8425\u8fd0\u7684\u4fe1\u606f\uff0c\u8fd9\u4e9b\u4fe1\u606f\u5305\u62ec\u5df2\u516c\u5f00\u7684\u6216\u5185\u90e8\u672a\u516c\u5f00\u7684\u4fe1\u606f\u3002<\/p>\n\n\n\n<p>\u63a8\u8bba\u4e09\uff1a\u5728\u5f3a\u5f0f\u6709\u6548\u5e02\u573a\u4e2d\uff0c\u6ca1\u6709\u4efb\u4f55\u65b9\u6cd5\u80fd\u5e2e\u52a9\u6295\u8d44\u8005\u83b7\u5f97\u8d85\u989d\u5229\u6da6\uff0c\u5373\u4f7f\u57fa\u91d1\u548c\u6709\u5185\u5e55\u6d88\u606f\u8005\u4e5f\u4e00\u6837\u3002<\/p>\n\n\n\n<p><strong>\u6709\u6548\u5e02\u573a\u5047\u8bf4\u7684\u89e3\u8bfb<\/strong><\/p>\n\n\n\n<p><strong>\u5f31\u52bf\u6709\u6548\u5e02\u573a\u9488\u5bf9\u7684\u662f\u53ea\u5173\u6ce8\u4ef7\u683c\u8d70\u52bf\u53d8\u5316\uff0c\u8ffd\u6c42\u4ef7\u5dee\u7684\u5957\u5229\u884c\u4e3a\u3002<\/strong>\u80a1\u7968\u5e02\u573a\u6709\u4ee5\u4e0b\u51e0\u79cd\u5957\u5229\uff1a<\/p>\n\n\n\n<p>1\uff0c\u4f8b\u5982\u9884\u5224\u4eca\u5e74\u5929\u6c14\u4f1a\u6781\u5bd2\uff0c\u67d0\u7c7b\u836f\u54c1\u4f1a\u6210\u4e3a\u6025\u9700\u54c1\uff0c\u8d2d\u5165\u8fd9\u7c7b\u836f\u6750\u4f01\u4e1a\u80a1\u7968\uff0c\u9884\u671f\u53d1\u751f\u5e76\u5e26\u6765\u80a1\u4ef7\u4e0a\u6da8\u540e\u5356\u51fa\uff0c\u8fd9\u4e2a\u662f\u5c45\u4e8e\u4e8b\u4ef6\u9a71\u52a8\u7684\u5957\u5229\uff1b<\/p>\n\n\n\n<p>2\uff0c\u6216\u8005\u662f\u7edf\u8ba1\u836f\u6750\u7684\u5386\u53f2\u4f9b\u9700\u548c\u80a1\u7968\u4ef7\u683c\u7684\u5386\u53f2\u8d70\u52bf\u5173\u7cfb\uff0c\u7edf\u8ba1\u51fa\u4ef7\u683c\u53d8\u5316\u6982\u7387\uff0c\u4ece\u800c\u83b7\u5f97\u4ef7\u5dee\u6536\u76ca\uff1b<\/p>\n\n\n\n<p>3\uff0c\u5f53\u524d\u6bd4\u8f83\u4e3b\u6d41\u7684\uff0c\u4ee5\u5e02\u573a\u4ea4\u6613\u5fc3\u7406\u5b66\u548c\u884c\u4e3a\u5b66\u4e3a\u4f9d\u636e\u8fdb\u884c\u5efa\u6a21\u5e76\u5efa\u7acb\u79d1\u5b66\u7b97\u6cd5\uff0c\u501f\u52a9\u8ba1\u7b97\u673a\u8fdb\u884c\u9ad8\u6548\u8fd0\u7b97\u548c\u6267\u884c\u4ea4\u6613\u3002<\/p>\n\n\n\n<p>\u4f46\u968f\u7740\u8fd9\u4e9b\u5957\u5229\u65b9\u6cd5\u9010\u6e10\u88ab\u5e02\u573a\u6240\u77e5\uff0c\u5957\u5229\u7684\u4ef7\u5dee\u7a7a\u95f4\u8d8a\u6765\u8d8a\u5c0f\uff0c\u8981\u6c42\u4ea4\u6613\u7684\u901f\u5ea6\u8d8a\u6765\u8d8a\u5feb\u3002\u53ea\u6709\u5bfb\u6c42\u66f4\u9ad8\u901f\u7684\u8ba1\u7b97\u673a\u540c\u65f6\u8fed\u4ee3\u7b97\u6cd5\u6765\u5728\u5e02\u573a\u4e2d\u83b7\u5f97\u8d85\u989d\u5229\u6da6\u3002\u76ee\u524d\u7b14\u8005\u6240\u77e5\uff0c\u9ad8\u9891\u7684<a href=\"https:\/\/zhida.zhihu.com\/search?content_id=205648302&amp;content_type=Article&amp;match_order=1&amp;q=%E9%87%8F%E5%8C%96%E4%BA%A4%E6%98%93&amp;zhida_source=entity\" target=\"_blank\" rel=\"noreferrer noopener\">\u91cf\u5316\u4ea4\u6613<\/a>\u901f\u5ea6\u5df2\u7ecf\u5230\u4e86\u7eb3\u79d2\u7ea7\u3002\u5957\u5229\u4e4b\u95f4\u7684\u535a\u5f08\u4f1a\u52a0\u5267\u77ed\u671f\u5e02\u573a\u7684\u6ce2\u52a8\uff0c\u589e\u52a0\u6210\u4ea4\u91cf\u3002\u4e5f\u53ea\u6709\u6781\u5c11\u6570\u7684\u5177\u6709\u5148\u8fdb\u8bbe\u5907\u548c\u7b97\u6cd5\u7684\u4ea4\u6613\u8005\u624d\u80fd\u83b7\u80dc\u3002<\/p>\n\n\n\n<p><strong>\u534a\u5f3a\u52bf\u6709\u6548\u5e02\u573a\u662f\u5bf9\u57fa\u672c\u9762\u5206\u6790\u7684\u8003\u9a8c<\/strong>\u3002\u57fa\u672c\u9762\u6295\u8d44\u9996\u5148\u662f\u5bf9\u5546\u54c1\u5e02\u573a\u7684\u4f9b\u9700\u8fdb\u884c\u5206\u6790\uff0c\u4f8b\u5982\u5bf9\u4eba\u7fa4\u7684\u75be\u75c5\u53d1\u5c55\u5206\u6790\u5f97\u77e5\u54ea\u4e9b\u836f\u6750\u5728\u672a\u6765\u4e00\u6bb5\u65f6\u95f4\u662f\u6709\u5de8\u5927\u9700\u6c42\uff0c\u540c\u65f6\u5206\u6790\u4e0d\u540c\u4ea7\u5730\u836f\u6750\u7684\u54c1\u8d28\u7b49\uff0c\u5e05\u9009\u51fa\u8d28\u4f18\u4f01\u4e1a\uff0c\u63d0\u65e9\u53bb\u8d2d\u4e70\u8fd9\u7c7b\u4f01\u4e1a\u7684\u80a1\u7968\uff0c\u968f\u7740\u5e02\u573a\u9700\u6c42\u4e0d\u65ad\u653e\u5927\uff0c\u4f01\u4e1a\u7684\u5229\u6da6\u4e0d\u65ad\u589e\u957f\uff0c\u5e02\u503c\u4e5f\u6c34\u6da8\u8239\u9ad8\u3002\u57fa\u672c\u9762\u5206\u6790\u53ef\u4ee5\u5e26\u6765\u51e0\u500d\u3001\u5341\u51e0\u500d\u751a\u81f3\u51e0\u5341\u500d\u7684\u6536\u76ca\uff0c\u6240\u4ee5\u8fd9\u79cd\u5bf9\u57fa\u672c\u9762\u5206\u6790\u7684\u65b9\u6cd5\u5f53\u524d\u975e\u5e38\u76db\u884c\uff0c\u968f\u7740\u8fd9\u7c7b\u6295\u8d44\u8005\u5bf9\u884c\u4e1a\u548c\u4f01\u4e1a\u53d1\u5c55\u5206\u6790\u8d8a\u6765\u8d8a\u900f\u5f7b\uff0c\u4ece\u800c\u5bf9\u6709\u53d1\u5c55\u524d\u666f\u7684\u4f18\u79c0\u4f01\u4e1a\u7ed9\u4e88\u4e86\u8db3\u591f\u7684\u4f30\u503c\u9884\u671f\uff0c\u65b0\u7684\u8d44\u91d1\u8981\u5165\u80a1\u8fd9\u7c7b\u4f01\u4e1a\u9700\u8981\u4ed8\u51fa\u7684\u4ef7\u683c\u8fc7\u9ad8\uff0c\u4e0d\u592a\u5408\u7b97\u4e86\uff0c\u8d44\u91d1\u8f6c\u800c\u5bf9\u2018\u4e8c\u7ebf\u84dd\u7b79\/\u6b21\u4f18\u4f01\u4e1a\u2019\u7ed9\u4e88\u9ad8\u7684\u4f30\u503c\uff0c\u53c8\u5e26\u52a8\u5176\u4e00\u6ce2\u80a1\u4ef7\u4e0a\u6da8\uff0c\u5728\u6323\u94b1\u6548\u5e94\u4e0b\uff0c\u8d28\u5730\u4e00\u822c\u751a\u81f3\u5783\u573e\u80a1\u90fd\u88ab\u8d44\u91d1\u8ffd\u6367\uff0c\u4ece\u800c\u5e26\u6765\u4e00\u8f6e\u666e\u6da8\u7684\u725b\u5e02\u884c\u60c5\u3002\u4f46\u540e\u9762\u53d1\u73b0\uff0c\u8fd9\u7c7b\u4f01\u4e1a\u7684\u5546\u54c1\u548c\u670d\u52a1\u5728\u5e02\u573a\u65e0\u6cd5\u53d8\u73b0\uff0c\u4e1a\u7ee9\u4e0b\u6ed1\u751a\u81f3\u4e8f\u635f\uff0c\u8fd9\u7c7b\u80a1\u7968\u5f00\u59cb\u66b4\u8dcc\uff0c\u751a\u81f3\u5f15\u53d1\u8fde\u9501\u53cd\u5e94\uff0c\u6301\u6709\u8d28\u4f18\u80a1\u7684\u4eba\u4e5f\u51fa\u552e\u624b\u4e2d\u80a1\u7968\uff0c\u5bfc\u81f4\u6574\u4e2a\u5e02\u573a\u4e0b\u8dcc\uff08\u718a\u5e02\uff09\u3002\u7531\u6b64\u800c\u5f62\u6210\u4e00\u8f6e\u725b\u718a\u3002\u5e02\u573a\u968f\u7740\u4e00\u8f6e\u718a\u5e02\u6216\u51e0\u8f6e\u7684\u6df1\u523b\u6559\u80b2\uff0c\u534a\u5f3a\u52bf\u6709\u6548\u5e02\u573a\u4f1a\u9010\u6b65\u5f62\u6210\uff0c\u5373\u4f7f\u9047\u5230\u4f8b\u5982\u6b21\u8d37\u5371\u673a\u6216\u65b0\u51a0\u7b49\u56e0\u7d20\u9020\u6210\u7684\u5e02\u573a\u66b4\u8dcc\uff0c\u7ee9\u4f18\u80a1\u7684\u4f30\u503c\u4e5f\u4f1a\u5feb\u901f\u5f97\u5230\u4fee\u590d\u3002\u800c\u5783\u573e\u80a1\u4e5f\u4f1a\u65e0\u4eba\u95ee\u6d25\u3002\u7f8e\u80a1\u5e02\u573a\u76ee\u524d\u5c31\u662f\u5904\u4e8e\u534a\u5f3a\u52bf\u7684\u6709\u6548\u5e02\u573a\u3002\u4e2d\u56fd\u7684A\u80a1\u5e02\u573a\u4e5f\u671d\u5176\u53d1\u5c55\u3002<\/p>\n\n\n\n<p>\u5728\u534a\u5f3a\u52bf\u6709\u6548\u5e02\u573a\u4e0b\uff0c\u5177\u6709\u53d1\u5c55\u524d\u666f\u7684\u4f01\u4e1a\uff0c\u5176\u5e02\u76c8\u7387\u90fd\u662f\u9ad8\u4e8e<strong>\u5408\u7406\u5e02\u76c8\u7387<\/strong>\uff08\u4ec0\u4e48\u662f\u5408\u7406\u5e02\u76c8\u7387\uff0c\u53c2\u8003\u6587\u7ae0\uff1a<a 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href=\"https:\/\/link.zhihu.com\/?target=http%3A\/\/mp.weixin.qq.com\/s%3F__biz%3DMzg2MDYxNDM2NQ%3D%3D%26mid%3D2247483874%26idx%3D1%26sn%3D9a5c0d38da3e5ad2687ba916f29788a6%26chksm%3Dce22fa50f9557346301f712f0cf267261a2cc27e119358c9903e1bbdb95ce3ffa73a33fcfa4d%26scene%3D21%23wechat_redirect\" target=\"_blank\" rel=\"noreferrer 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2022-06-14 19:40<br><a href=\"https:\/\/zhuanlan.zhihu.com\/p\/528818705\">https:\/\/zhuanlan.zhihu.com\/p\/528818705<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u6709\u6548\u5e02\u573a\u5047\u8bf4\u7b80\u4ecb \u5c24\u91d1\u6cd5\u739b\u57281970\u5e74\u63d0\u51fa\u4e86\u2018\u6709\u6548\u5e02\u573a\u5047\u8bf4\u2019\uff08Efficient Markets Hypoth [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-11564","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/www.invbus.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/11564","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.invbus.com\/blog\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.invbus.com\/blog\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.invbus.com\/blog\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.invbus.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=11564"}],"version-history":[{"count":0,"href":"https:\/\/www.invbus.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/11564\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.invbus.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=11564"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.invbus.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=11564"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.invbus.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=11564"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}