{"id":25429,"date":"2026-04-21T06:59:00","date_gmt":"2026-04-20T22:59:00","guid":{"rendered":"https:\/\/www.xq.com.tw\/xstrader\/?p=25429"},"modified":"2026-04-21T06:59:00","modified_gmt":"2026-04-20T22:59:00","slug":"%e8%a9%b9%e5%a7%86%e6%96%af%c2%b7%e5%a5%a7%e7%88%be%e6%96%bd%e6%8b%89%e6%a0%bc%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\/%e8%a9%b9%e5%a7%86%e6%96%af%c2%b7%e5%a5%a7%e7%88%be%e6%96%bd%e6%8b%89%e6%a0%bc%e7%9a%84%e6%8a%95%e8%b3%87%e5%93%b2%e5%ad%b8\/","title":{"rendered":"\u8a79\u59c6\u65af\u00b7\u5967\u723e\u65bd\u62c9\u683c\u7684\u6295\u8cc7\u54f2\u5b78"},"content":{"rendered":"

\u8a79\u59c6\u65af\u00b7\u5967\u723e\u65bd\u62c9\u683c\uff08James D. Oelschlager\uff0c\u901a\u5e38\u88ab\u7a31\u70ba Jim Oelschlager\uff09\u662f\u6a61\u6a39\u8cc7\u672c\u7ba1\u7406\u516c\u53f8\uff08Oak Associates\uff09\u7684\u5275\u8fa6\u4eba\u3002<\/span><\/p>\n

\u5728 1990 \u5e74\u4ee3\u5230 2000 \u5e74\u4ee3\u521d\u671f\uff0c\u4ed6\u6240\u7ba1\u7406\u7684\u767d\u6a61\u6a39\u7cbe\u9078\u6210\u9577\u57fa\u91d1\uff08White Oak Select Growth Fund\uff09\u540d\u9707\u83ef\u723e\u8857\u3002\u8207\u6211\u5011\u524d\u9762\u63d0\u5230\u7684\u8a31\u591a\u559c\u6b61\u983b\u7e41\u9032\u51fa\u3001\u7dca\u8a2d\u505c\u640d\u7684\u77ed\u7dda\u6216\u5b8f\u89c0\u4ea4\u6613\u54e1\u5b8c\u5168\u76f8\u53cd\uff0cOelschlager \u662f\u4e00\u4f4d**\u300c\u6975\u5ea6\u96c6\u4e2d\u6301\u80a1\u3001\u6975\u4f4e\u5468\u8f49\u7387\u7684\u9577\u671f\u6210\u9577\u80a1\u4fe1\u4ef0\u8005\u300d**\u3002<\/span><\/p>\n

\u4ee5\u4e0b\u70ba\u60a8\u6574\u7406\u4ed6\u7684\u904e\u5f80\u7d93\u6b77\u3001\u6838\u5fc3\u6295\u8cc7\u54f2\u5b78\uff0c\u4e26\u5c07\u4ed6\u9019\u5957\u300c\u7121\u8996\u96dc\u97f3\u3001\u62b1\u7dca\u8655\u7406\u300d\u7684\u512a\u8cea\u5927\u578b\u6210\u9577\u80a1\u54f2\u5b78\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

\ud83d\udca1 \u8a79\u59c6\u65af\u00b7\u5967\u723e\u65bd\u62c9\u683c (James D. Oelschlager) \u7d93\u6b77\u8207\u6295\u8cc7\u54f2\u5b78<\/b><\/h3>\n

\u904e\u5f80\u7d93\u6b77\uff1a<\/b><\/p>\n

Jim Oelschlager \u539f\u672c\u662f\u51e1\u58eb\u901a\u8f2a\u80ce\uff08Firestone Tire & Rubber\uff09\u7684\u9000\u4f11\u91d1\u64cd\u76e4\u624b\uff0c\u5f8c\u4f86\u7368\u7acb\u5275\u8fa6 Oak Associates\u3002\u4ed6\u60a3\u6709\u591a\u767c\u6027\u786c\u5316\u75c7\uff0c\u5927\u534a\u751f\u90fd\u5750\u5728\u8f2a\u6905\u4e0a\uff0c\u4f46\u9019\u7d72\u6beb\u6c92\u6709\u963b\u7919\u4ed6\u6210\u70ba\u83ef\u723e\u8857\u6700\u9802\u5c16\u7684\u9078\u80a1\u5927\u5e2b\u3002\u4ed6\u7684\u57fa\u91d1\u5468\u8f49\u7387\u6975\u4f4e\uff08\u5e38\u5e38\u4e0d\u5230 20%\uff0c\u610f\u5473\u8457\u5e73\u5747\u6301\u80a1\u9577\u9054 5 \u5e74\u4ee5\u4e0a\uff09\uff0c\u4e14\u6301\u80a1\u6975\u5ea6\u96c6\u4e2d\uff08\u901a\u5e38\u53ea\u6301\u6709 20 \u6a94\u5de6\u53f3\u7684\u80a1\u7968\uff09\u3002<\/span><\/p>\n

\u6838\u5fc3\u6295\u8cc7\u54f2\u5b78\uff1a<\/b><\/p>\n

    \n
  1. \u64c1\u62b1\u9577\u671f\u9577\u671f\u5927\u8da8\u52e2 (Secular Trends)<\/b>\uff1a<\/span>
    \n<\/span>\u4ed6\u5b8c\u5168\u4e0d\u770b\u77ed\u671f\u7684\u7e3d\u9ad4\u7d93\u6fdf\u9810\u6e2c\uff08\u5982\u806f\u6e96\u6703\u4e0b\u500b\u6708\u5347\u606f\u5e7e\u78bc\uff09\uff0c\u4ed6\u8a8d\u70ba\u90a3\u4e9b\u90fd\u662f\u300c\u96dc\u97f3\u300d\u3002\u4ed6\u5c08\u6ce8\u65bc\u672a\u4f86 5 \u5230 10 \u5e74\u4e0d\u53ef\u9006\u7684\u5927\u8da8\u52e2\uff0c\u4f8b\u5982\u79d1\u6280\u5275\u65b0\u3001\u4eba\u53e3\u7d50\u69cb\u8001\u5316\u7b49\u3002<\/span><\/li>\n
  2. \u512a\u8cea\u7684\u5927\u578b\u6210\u9577\u80a1 (Large-Cap Quality Growth)<\/b>\uff1a<\/span>
    \n<\/span>\u4ed6\u559c\u6b61\u8cb7\u9032\u90a3\u4e9b\u5728\u7522\u696d\u4e2d\u4f54\u64da\u7d71\u6cbb\u5730\u4f4d\u3001\u64c1\u6709\u6975\u5bec\u5ee3\u8b77\u57ce\u6cb3\u7684\u5927\u578b\u4f01\u696d\u3002\u9019\u4e9b\u516c\u53f8\u5fc5\u9808\u5177\u5099\u6975\u9ad8\u7684\u300c\u80a1\u6771\u6b0a\u76ca\u5831\u916c\u7387\uff08ROE\uff09\u300d\u8207\u5f37\u5927\u7684\u300c\u71df\u696d\u5229\u76ca\u7387\u300d\u3002<\/span><\/li>\n
  3. \u7121\u60c5\u7684\u76c8\u9918\u9a45\u52d5 (Earnings-Driven)<\/b>\uff1a<\/span>
    \n<\/span>\u4ed6\u6df1\u4fe1\u300c\u9577\u671f\u4f86\u770b\uff0c\u80a1\u50f9100%\u8ddf\u8457\u76c8\u9918\u8d70\u300d\u3002\u53ea\u8981\u516c\u53f8\u7684\u71df\u6536\u8207\u76c8\u9918\u6301\u7e8c\u4ee5\u96d9\u4f4d\u6578\u6210\u9577\uff0c\u5c31\u7b97\u77ed\u671f\u9047\u5230\u5e02\u5834\u5d29\u76e4\uff0c\u4ed6\u4e5f\u7d55\u5c0d\u4e0d\u8ce3\u3002<\/span><\/li>\n
  4. \u8cb7\u5c0d\uff0c\u7136\u5f8c\u62b1\u7dca (Buy Right and Hold Tight)<\/b>\uff1a<\/span>
    \n<\/span>\u9019\u662f\u4ed6\u6700\u8457\u540d\u7684\u5ea7\u53f3\u9298\u3002\u4ed6\u8a8d\u70ba\u591a\u6578\u6295\u8cc7\u4eba\u4e4b\u6240\u4ee5\u8cfa\u4e0d\u5230\u5927\u9322\uff0c\u662f\u56e0\u70ba\u4ed6\u5011\u5728\u597d\u516c\u53f8\u8eab\u4e0a\u8cfa\u4e86\u4e00\u9ede\u9ede\u5c31\u8dd1\u3002\u4ed6\u8981\u6c42\u5728\u9577\u671f\u591a\u982d\u8da8\u52e2\u4e0d\u8b8a\u7684\u60c5\u6cc1\u4e0b\uff0c\u5fc5\u9808\u6b7b\u62b1\u8457\u91d1\u96de\u6bcd\u3002<\/span><\/li>\n<\/ol>\n

    \u2699\ufe0f XScript \u908f\u8f2f\u89e3\u69cb (Type A: \u9078\u80a1\u8173\u672c – \u96c6\u4e2d\u6301\u80a1\u8207\u9577\u671f\u6210\u9577\u7b56\u7565)<\/b><\/h3>\n

    \u70ba\u4e86\u5728 XScript \u4e2d\u5b8c\u7f8e\u91cd\u73fe Jim Oelschlager \u7684\u54f2\u5b78\uff0c\u6211\u5011\u5efa\u7acb\u4e00\u500b**\u300c\u5927\u578b\u6b0a\u503c \uff0b \u9ad8\u5229\u6f64\u8b77\u57ce\u6cb3 \uff0b \u96d9\u4f4d\u6578\u6210\u9577 \uff0b \u9577\u7dda\u591a\u982d\u4fdd\u8b77\u300d**\u7684\u9577\u7dda\u62b1\u7dca\u6a21\u578b\uff1a<\/span><\/p>\n

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    1. \u9396\u5b9a\u5927\u578b\u8b77\u57ce\u6cb3 (Large-Cap Focus)<\/b>\uff1a<\/span>\n