{"id":25412,"date":"2026-04-17T05:06:53","date_gmt":"2026-04-16T21:06:53","guid":{"rendered":"https:\/\/www.xq.com.tw\/xstrader\/?p=25412"},"modified":"2026-04-17T05:06:53","modified_gmt":"2026-04-16T21:06:53","slug":"%e5%a8%81%e5%bb%89%c2%b7%e9%81%94%e9%a0%93-william-m-dutton-%e7%9a%84%e6%8a%95%e8%b3%87%e5%93%b2%e5%ad%b8","status":"publish","type":"post","link":"https:\/\/www.xq.com.tw\/xstrader\/%e5%a8%81%e5%bb%89%c2%b7%e9%81%94%e9%a0%93-william-m-dutton-%e7%9a%84%e6%8a%95%e8%b3%87%e5%93%b2%e5%ad%b8\/","title":{"rendered":"\u5a01\u5ec9\u00b7\u9054\u9813 (William M. Dutton) \u7684\u6295\u8cc7\u54f2\u5b78"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">William Dutton \u5728 1992 \u5e74\u88ab\u6668\u661f\uff08Morningstar\uff09\u9078\u70ba\u300c\u5e74\u5ea6\u6700\u4f73\u57fa\u91d1\u7d93\u7406\u4eba\u300d\u3002\u4ed6\u64cd\u76e4\u7684 Skyline Special Equities Fund \u662f\u4e00\u6a94\u975e\u5e38\u7d93\u5178\u7684\u300c\u5c0f\u578b\u50f9\u503c\u80a1\uff08Small-Cap Value\uff09\u300d\u57fa\u91d1\uff0c\u4f46\u4ed6\u53c8\u6bd4\u50b3\u7d71\u50f9\u503c\u6295\u8cc7\u4eba\u591a\u4e86\u5e7e\u5206\u5c0d\u300c\u6210\u9577\u8207\u52d5\u80fd\u300d\u7684\u6e34\u671b\u3002<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u4ee5\u4e0b\u70ba\u60a8\u6574\u7406\u4ed6\u7684\u6838\u5fc3\u6295\u8cc7\u54f2\u5b78\uff0c\u4e26\u5c07\u4ed6\u9019\u5957\u7cbe\u7dfb\u7684\u300c\u4f4e\u4f30\u503c \uff0b \u6bdb\u5229\u6539\u5584 \uff0b \u5c0f\u578b\u6210\u9577\u300d\u6cd5\u5247\uff0c\u8f49\u5316\u70ba\u7b26\u5408 XQ \u7cfb\u7d71\u9650\u5236\u8207\u77e5\u8b58\u5eab\u6b04\u4f4d\u898f\u7bc4\u7684 XScript \u91cf\u5316\u9078\u80a1\u8173\u672c\u3002<\/span><\/p>\n<h3><b>\ud83d\udca1 \u5a01\u5ec9\u00b7\u9054\u9813 (William M. Dutton) \u7d93\u6b77\u8207\u6295\u8cc7\u54f2\u5b78<\/b><\/h3>\n<p><b>\u904e\u5f80\u7d93\u6b77\uff1a<\/b><\/p>\n<p><span style=\"font-weight: 400;\">William Dutton \u5f9e 1980 \u5e74\u4ee3\u5c31\u958b\u59cb\u5728\u5e02\u5834\u4e2d\u6253\u6efe\u3002\u4ed6\u7684\u6295\u8cc7\u98a8\u683c\u88ab\u5b9a\u7fa9\u70ba\u300c\u8cb7\u9032\u5177\u5099\u6210\u9577\u6f5b\u529b\u3001\u4f46\u76ee\u524d\u80a1\u50f9\u8868\u73fe\u4e0d\u4f73\u7684\u516c\u53f8\uff08Buy Under-performing Companies with Growth Potential\uff09\u300d\u3002\u4ed6\u6700\u7279\u5225\u7684\u4e00\u9ede\u662f\u300c\u8ce3\u51fa\u7d00\u5f8b\u300d\uff1a\u50b3\u7d71\u50f9\u503c\u6d3e\u559c\u6b61\u8cb7\u9032\u5f8c\u6b7b\u62b1\u4e0d\u653e\uff0c\u4f46 Dutton \u4e00\u65e6\u767c\u73fe\u80a1\u50f9\u9054\u5230\u300c\u516c\u5e73\u4f30\u503c\uff08Fair Valuation\uff09\u300d\uff0c\u4ed6\u6703\u7acb\u523b\u7372\u5229\u4e86\u7d50\uff0c\u56e0\u6b64\u4ed6\u7684\u5e73\u5747\u6301\u80a1\u6642\u9593\u901a\u5e38\u4e0d\u5230\u5169\u5e74\u3002<\/span><\/p>\n<p><b>\u6838\u5fc3\u6295\u8cc7\u54f2\u5b78\uff08\u9078\u80a1\u516d\u5927\u6cd5\u5247\uff09\uff1a<\/b><\/p>\n<ol>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>\u9396\u5b9a\u5c0f\u578b\u80a1\u6c60 (Small-Cap Universe)<\/b><span style=\"font-weight: 400;\">\uff1a<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\">\u4ed6\u5c08\u6ce8\u65bc\u7e3d\u5e02\u503c\u4ecb\u65bc 1 \u5104\u81f3 20 \u5104\u7f8e\u5143\u4e4b\u9593\u7684\u5c0f\u578b\u80a1\uff0c\u56e0\u70ba\u9019\u88e1\u6700\u5bb9\u6613\u7522\u751f\u7121\u6548\u7387\u7684\u5b9a\u50f9\u932f\u8aa4\u3002<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>\u7d55\u5c0d\u7684\u4fbf\u5b9c (Deep Discount on P\/E)<\/b><span style=\"font-weight: 400;\">\uff1a<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\">\u4ed6\u8981\u6c42\u80a1\u7968\u7684\u300c\u904e\u53bb\u56db\u5b63\u672c\u76ca\u6bd4\u300d\u8207\u300c\u9810\u4f30\u672c\u76ca\u6bd4\u300d\uff0c\u90fd\u5fc5\u9808\u4f4e\u65bc\u5e02\u5834\u5e73\u5747\u503c\u81f3\u5c11 20% \u4ee5\u4e0a\u3002<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>\u6210\u9577\u6f5b\u529b (Growth Potential)<\/b><span style=\"font-weight: 400;\">\uff1a<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\">\u4ed6\u4e0d\u662f\u8cb7\u5783\u573e\uff0c\u4ed6\u8981\u6c42\u516c\u53f8\u672a\u4f86\u7684\u76c8\u9918\u6210\u9577\u7387\u81f3\u5c11\u9054 10% \u4ee5\u4e0a\uff0c\u6216\u8005\u71df\u6536\u6210\u9577\u7387\u5fc5\u9808\u64ca\u6557\u5e02\u5834\u5e73\u5747\u3002<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>\u6bdb\u5229\u7387\u7684\u5be6\u8cea\u6539\u5584 (Improving Gross Margins)<\/b><span style=\"font-weight: 400;\">\uff1a<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\">\u9019\u662f\u4ed6\u975e\u5e38\u7280\u5229\u7684\u4e00\u628a\u6ffe\u7db2\uff01\u4ed6\u8981\u6c42\u516c\u53f8\u7684\u300c\u6bdb\u5229\u7387\u5fc5\u9808\u6b63\u5728\u63d0\u5347\u300d\u3002\u9019\u8b49\u660e\u516c\u53f8\u4e0d\u50c5\u50c5\u662f\u71df\u6536\u5728\u6210\u9577\uff0c\u5176\u7522\u54c1\u5728\u5e02\u5834\u4e0a\u7684\u7af6\u722d\u529b\u8207\u5b9a\u50f9\u6b0a\u4e5f\u5728\u589e\u5f37\u3002<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>\u5f37\u5065\u7684\u511f\u50b5\u80fd\u529b (Strong Interest Coverage)<\/b><span style=\"font-weight: 400;\">\uff1a<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\">\u4ed6\u8981\u6c42\u516c\u53f8\u7684\u300c\u71df\u696d\u5229\u76ca\u300d\u5fc5\u9808\u9060\u5927\u65bc\u300c\u5229\u606f\u652f\u51fa\u300d\uff08\u5229\u606f\u652f\u51fa\u9664\u4ee5\u71df\u696d\u5229\u76ca\u4f4e\u65bc 50%\uff09\u3002\u9019\u4ee3\u8868\u516c\u53f8\u7684\u50b5\u52d9\u58d3\u529b\u6975\u4f4e\uff0c\u8ca1\u52d9\u9ad4\u8cea\u975e\u5e38\u5f37\u608d\u3002<\/span><\/li>\n<\/ol>\n<h3><b>\u2699\ufe0f XScript \u908f\u8f2f\u89e3\u69cb (Type A: \u9078\u80a1\u8173\u672c &#8211; \u9054\u9813\u5c0f\u578b\u50f9\u503c\u8207\u6bdb\u5229\u6539\u5584\u7b56\u7565)<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">\u70ba\u4e86\u5728 XQ \u4e2d\u5b8c\u7f8e\u9084\u539f William Dutton \u7684\u9078\u80a1\u516d\u5927\u6cd5\u5247\uff0c\u6211\u5011\u5efa\u7acb\u4e00\u500b**\u300c\u4f4e\u5e02\u503c \uff0b \u4f4e\u672c\u76ca\u6bd4 \uff0b \u71df\u6536\u9ad8\u6210\u9577 \uff0b \u6bdb\u5229\u7387\u5e74\u589e \uff0b \u4f4e\u8ca0\u50b5\u300d**\u7684\u6a21\u578b\uff1a<\/span><\/p>\n<ol>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>\u5c0f\u578b\u80a1\u751c\u871c\u9ede (Small-Cap)<\/b><span style=\"font-weight: 400;\">\uff1a<\/span>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">\u9650\u5236 <\/span><span style=\"font-weight: 400;\">\u7e3d\u5e02\u503c(\u5104)<\/span><span style=\"font-weight: 400;\"> \u5927\u65bc 0 \u4e14 &lt; 200.0 \u5104\u3002<\/span><\/li>\n<\/ul>\n<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>\u6253\u6298\u7684\u4f30\u503c (Discounted P\/E)<\/b><span style=\"font-weight: 400;\">\uff1a<\/span>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">\u70ba\u4e86\u6a21\u64ec\u300c\u4f4e\u65bc\u5e02\u5834\u5e73\u5747 20%\u300d\uff0c\u6211\u5011\u56b4\u683c\u8981\u6c42 <\/span><span style=\"font-weight: 400;\">\u672c\u76ca\u6bd4<\/span><span style=\"font-weight: 400;\"> \u5927\u65bc 0 \u4e14 &lt; 15.0 \u500d\u3002<\/span><\/li>\n<\/ul>\n<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>\u96d9\u4f4d\u6578\u6210\u9577\u52d5\u80fd (Double-Digit Growth)<\/b><span style=\"font-weight: 400;\">\uff1a<\/span>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">\u71df\u6536\u52d5\u80fd\uff1a<\/span><span style=\"font-weight: 400;\">\u6708\u71df\u6536\u5e74\u589e\u7387<\/span><span style=\"font-weight: 400;\"> &gt; 10.0%\u3002<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">\u7372\u5229\u9632\u5446\uff1a<\/span><span style=\"font-weight: 400;\">\u6bcf\u80a1\u7a05\u5f8c\u6de8\u5229(\u5143)<\/span><span style=\"font-weight: 400;\"> &gt; 0\u3002<\/span><\/li>\n<\/ul>\n<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>\u6838\u5fc3\u4eae\u9ede\uff1a\u6bdb\u5229\u7387\u63d0\u5347 (Margin Expansion)<\/b><span style=\"font-weight: 400;\">\uff1a<\/span>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">\u6211\u5011\u8b80\u53d6\u7576\u5b63\u7684 <\/span><span style=\"font-weight: 400;\">\u71df\u696d\u6bdb\u5229\u7387<\/span><span style=\"font-weight: 400;\">\uff0c\u4e26\u8981\u6c42\u5b83\u5fc5\u9808<\/span><b>\u5927\u65bc\u53bb\u5e74\u540c\u671f<\/b><span style=\"font-weight: 400;\">\uff08\u5373 <\/span><span style=\"font-weight: 400;\">grossMargin &gt; grossMarginLast<\/span><span style=\"font-weight: 400;\">\uff09\uff0c\u8b49\u660e\u7522\u54c1\u7af6\u722d\u529b\u6b63\u5728\u589e\u5f37\u3002<\/span><\/li>\n<\/ul>\n<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>\u5f37\u5065\u7684\u8ca1\u52d9\u9ad4\u8cea (Financial Health)<\/b><span style=\"font-weight: 400;\">\uff1a<\/span>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">\u4ee5 <\/span><span style=\"font-weight: 400;\">\u8ca0\u50b5\u6bd4\u7387<\/span><span style=\"font-weight: 400;\"> &lt; 40.0% \u4f5c\u70ba\u4f4e\u5229\u606f\u8ca0\u64d4\u8207\u8ca1\u52d9\u5065\u5eb7\u7684\u4ee3\u7406\u6307\u6a19\u3002<\/span><\/li>\n<\/ul>\n<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>\u6d41\u52d5\u6027\u9632\u5446 (Liquidity)<\/b><span style=\"font-weight: 400;\">\uff1a<\/span>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">\u9650\u5236 <\/span><span style=\"font-weight: 400;\">\u6210\u4ea4\u91cf<\/span><span style=\"font-weight: 400;\"> &gt; 1000 \u5f35\u3002<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ol>\n<p><b>XScript \u7a0b\u5f0f\u78bc\u00a0\u00a0<\/b><\/p>\n<pre class='brush:xs'>\/\/ \u8173\u672c\u985e\u578b\uff1aType A \u9078\u80a1\u8173\u672c (Screener)\r\n\/\/ \u7b56\u7565\u540d\u7a31\uff1aWilliam Dutton \u5c0f\u578b\u50f9\u503c\u8207\u6bdb\u5229\u6539\u5584\u7b56\u7565\r\n\/\/ \u7b56\u7565\u908f\u8f2f\uff1a\u5c08\u6ce8\u4e2d\u5c0f\u578b\u80a1\uff0c\u5c0b\u627e\u672c\u76ca\u6bd4\u504f\u4f4e\u3001\u71df\u6536\u96d9\u4f4d\u6578\u6210\u9577\uff0c\u4e14\u300c\u6bdb\u5229\u7387\u8f03\u53bb\u5e74\u540c\u671f\u63d0\u5347\u300d\u7684\u512a\u8cea\u6f5b\u529b\u80a1\r\n\r\n\/\/ \u78ba\u4fdd\u9577\u5929\u671f\u6b77\u53f2\u8cc7\u6599\u8b80\u53d6\u8db3\u5920 (\u8b80\u53d6\u53bb\u5e74\u540c\u671f\u6bdb\u5229\u7387\u9700\u8981)\r\nSetTotalBar(60);\r\n\r\n\/\/ \u8b8a\u6578\u5ba3\u544a\u9435\u5f8b\uff1a\u7121\u5e95\u7dda\u3001\u7121\u7cfb\u7d71\u4fdd\u7559\u5b57 daily\u3001\u9810\u8a2d\u7d66\u5b9a\u521d\u59cb\u503c\r\nvar: marketCap(0), peRatio(0), revYoy(0), epsCurrent(0);\r\nvar: grossMargin(0), grossMarginLast(0), debtRatio(0), volToday(0);\r\n\r\n\/\/ \u56b4\u683c\u4f9d\u7167 Data Dictionary \u8207\u77e5\u8b58\u5eab\u898f\u7bc4\u8b80\u53d6\u8cc7\u6599\r\nmarketCap = GetField(\"\u7e3d\u5e02\u503c(\u5104)\", \"D\"); \/\/ \u898f\u6a21\u6307\u6a19\uff1a\u9396\u5b9a\u5c0f\u578b\u80a1\r\npeRatio = GetField(\"\u672c\u76ca\u6bd4\", \"D\"); \/\/ \u4f30\u503c\u6307\u6a19\uff1a\u4f4e\u65bc\u5e02\u5834\u5e73\u5747\u7684\u4fbf\u5b9c\u50f9\u683c\r\nrevYoy = GetField(\"\u6708\u71df\u6536\u5e74\u589e\u7387\", \"M\"); \/\/ \u6210\u9577\u6307\u6a19\uff1a10% \u4ee5\u4e0a\u7684\u71df\u6536\u6210\u9577\r\nepsCurrent = GetField(\"\u6bcf\u80a1\u7a05\u5f8c\u6de8\u5229(\u5143)\", \"Q\"); \/\/ \u7372\u5229\u9632\u5446\uff1a\u5be6\u8cea\u7372\u5229\r\ngrossMargin = GetField(\"\u71df\u696d\u6bdb\u5229\u7387\", \"Q\"); \/\/ \u54c1\u8cea\u6307\u6a19\uff1a\u7576\u5b63\u6bdb\u5229\u7387\r\ngrossMarginLast = GetField(\"\u71df\u696d\u6bdb\u5229\u7387\", \"Q\")[4]; \/\/ \u54c1\u8cea\u6307\u6a19\uff1a\u53bb\u5e74\u540c\u671f\u6bdb\u5229\u7387 (Dutton \u7684\u6838\u5fc3\u6ffe\u7db2)\r\ndebtRatio = GetField(\"\u8ca0\u50b5\u6bd4\u7387\", \"Q\"); \/\/ \u8ca1\u52d9\u6307\u6a19\uff1a\u4f4e\u8ca0\u50b5\uff0c\u78ba\u4fdd\u5229\u606f\u8986\u84cb\u7387\u9ad8\r\nvolToday = GetField(\"\u6210\u4ea4\u91cf\", \"D\"); \/\/ \u6d41\u52d5\u6027\u6307\u6a19\r\n\r\n\/\/ \u6838\u5fc3\u91cf\u5316\u7d9c\u5408\u5224\u65b7\uff1a\u55ae\u4e00\u7b49\u865f\u3001\u5b8c\u6574\u908f\u8f2f\u5305\u8986\r\n\/\/ \u689d\u4ef6\u8aaa\u660e\uff1a\r\n\/\/ 1. marketCap &gt; 0.0 and marketCap &lt; 200.0 (\u9396\u5b9a\u5177\u5099\u932f\u8aa4\u5b9a\u50f9\u6f5b\u529b\u7684\u5c0f\u578b\u80a1)\r\n\/\/ 2. peRatio &gt; 0.0 and peRatio &lt; 15.0 (\u50f9\u503c\u6295\u8cc7\u7cbe\u795e\uff0c\u62d2\u7d55\u6602\u8cb4\u4f30\u503c)\r\n\/\/ 3. revYoy &gt; 10.0 (\u5177\u5099\u96d9\u4f4d\u6578\u7684\u5be6\u8cea\u6210\u9577\u6f5b\u529b)\r\n\/\/ 4. grossMargin &gt; grossMarginLast (\u6838\u5fc3\u9748\u9b42\uff1a\u6bdb\u5229\u7387\u8f03\u53bb\u5e74\u540c\u671f\u63d0\u5347\uff0c\u8b49\u660e\u7522\u54c1\u7af6\u722d\u529b\u589e\u5f37)\r\n\/\/ 5. debtRatio &lt; 40.0 (\u8ca1\u52d9\u9ad4\u8cea\u5f37\u5065\uff0c\u4e0d\u6015\u5347\u606f\u5faa\u74b0)\r\n\/\/ 6. epsCurrent &gt; 0.0 (\u672c\u696d\u6709\u5be6\u8cea\u7372\u5229)\r\n\/\/ 7. volToday &gt; 1000 (\u78ba\u4fdd\u9032\u51fa\u6d41\u52d5\u6027)\r\nif marketCap &gt; 0.0 and marketCap &lt; 200.0 \r\nand peRatio &gt; 0.0 and peRatio &lt; 15.0 \r\nand revYoy &gt; 10.0 \r\nand grossMargin &gt; grossMarginLast \r\nand debtRatio &lt; 40.0 \r\nand epsCurrent &gt; 0.0 \r\nand volToday &gt; 1000 then begin\r\n\r\n\/\/ \u89f8\u767c\u689d\u4ef6\u6210\u7acb\r\nret = 1;\r\n\r\n\/\/ Type A \u9078\u80a1\u8173\u672c\u5c08\u5c6c\uff1a\u8f38\u51fa\u4e5d\u5bae\u683c\u6aa2\u9a57\u6b04\u4f4d (\u8b66\u793a\u8173\u672c\u7d55\u5c0d\u7981\u7528)\r\nOutputField1(grossMargin, \"\u7576\u5b63\u6bdb\u5229\u7387(%)\");\r\nOutputField2(grossMarginLast, \"\u53bb\u5e74\u540c\u671f\u6bdb\u5229\u7387(%)\");\r\nOutputField3(peRatio, \"\u672c\u76ca\u6bd4\");\r\nOutputField4(revYoy, \"\u6708\u71df\u6536\u5e74\u589e\u7387(%)\");\r\nOutputField5(marketCap, \"\u7e3d\u5e02\u503c(\u5104)\");\r\nend;<\/pre>\n<p>\u6301\u670990\u5929\u7684\u56de\u6e2c\u5831\u544a<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-25413\" src=\"https:\/\/www.xq.com.tw\/xstrader\/wp-content\/uploads\/2026\/04\/2026041701-scaled.png\" alt=\"\" width=\"2560\" height=\"1458\" srcset=\"https:\/\/www.xq.com.tw\/xstrader\/wp-content\/uploads\/2026\/04\/2026041701-scaled.png 2560w, https:\/\/www.xq.com.tw\/xstrader\/wp-content\/uploads\/2026\/04\/2026041701-300x171.png 300w, https:\/\/www.xq.com.tw\/xstrader\/wp-content\/uploads\/2026\/04\/2026041701-1024x583.png 1024w, https:\/\/www.xq.com.tw\/xstrader\/wp-content\/uploads\/2026\/04\/2026041701-768x437.png 768w, https:\/\/www.xq.com.tw\/xstrader\/wp-content\/uploads\/2026\/04\/2026041701-1536x875.png 1536w, https:\/\/www.xq.com.tw\/xstrader\/wp-content\/uploads\/2026\/04\/2026041701-2048x1166.png 2048w, https:\/\/www.xq.com.tw\/xstrader\/wp-content\/uploads\/2026\/04\/2026041701-660x376.png 660w\" sizes=\"auto, (max-width: 2560px) 100vw, 2560px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>William Dutton \u5728 1992 \u5e74\u88ab\u6668\u661f\uff08Morningstar\uff09\u9078\u70ba\u300c\u5e74\u5ea6\u6700\u4f73\u57fa\u91d1\u7d93\u7406\u4eba\u300d\u3002\u4ed6\u64cd\u76e4\u7684 Skyline Special Equities Fund \u662f\u4e00\u6a94\u975e\u5e38\u7d93\u5178\u7684\u300c\u5c0f\u578b\u50f9\u503c\u80a1\uff08Small-Cap Value\uff09\u300d\u57fa\u91d1\uff0c\u4f46\u4ed6\u53c8\u6bd4\u50b3\u7d71\u50f9\u503c\u6295\u8cc7\u4eba\u591a\u4e86\u5e7e\u5206\u5c0d\u300c\u6210\u9577\u8207\u52d5\u80fd\u300d\u7684\u6e34\u671b\u3002\u2026 <span class=\"read-more\"><a href=\"https:\/\/www.xq.com.tw\/xstrader\/%e5%a8%81%e5%bb%89%c2%b7%e9%81%94%e9%a0%93-william-m-dutton-%e7%9a%84%e6%8a%95%e8%b3%87%e5%93%b2%e5%ad%b8\/\">\u95b1\u8b80\u66f4\u591a &raquo;<\/a><\/span><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-25412","post","type-post","status-publish","format-standard","hentry","category-1"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.1.1 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\r\n<title>\u5a01\u5ec9\u00b7\u9054\u9813 (William M. 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