{"id":11643,"date":"2020-09-10T21:26:05","date_gmt":"2020-09-10T12:26:05","guid":{"rendered":"https:\/\/www.globalmacroresearch.org\/jp\/?p=11643"},"modified":"2020-09-10T21:26:05","modified_gmt":"2020-09-10T12:26:05","slug":"%e4%b8%96%e7%95%8c%e6%9c%80%e5%a4%a7%e3%81%ae%e3%83%98%e3%83%83%e3%82%b8%e3%83%95%e3%82%a1%e3%83%b3%e3%83%89%e3%80%81%e3%82%b3%e3%83%ad%e3%83%8a%e6%a0%aa%e9%ab%98%e3%81%a7%e3%82%82%e7%b1%b3%e5%9b%bd","status":"publish","type":"post","link":"https:\/\/www.globalmacroresearch.org\/jp\/archives\/11643","title":{"rendered":"\u4e16\u754c\u6700\u5927\u306e\u30d8\u30c3\u30b8\u30d5\u30a1\u30f3\u30c9\u3001\u30b3\u30ed\u30ca\u682a\u9ad8\u3067\u3082\u7c73\u56fd\u682a\u8cb7\u3044\u5897\u3055\u305a"},"content":{"rendered":"\n<p>\u65b0\u578b\u30b3\u30ed\u30ca\u30a6\u30a3\u30eb\u30b9\u306e\u4e16\u754c\u7684\u6d41\u884c\u3067\u4e00\u6642\u66b4\u843d\u3057\u305f\u682a\u5f0f\u5e02\u5834\u3082\u305d\u306e\u5f8c\u7206\u767a\u7684\u306a\u52e2\u3044\u3067\u4e0a\u6607\u3057\u3066\u3044\u308b\u3002\u8a3c\u5238\u53e3\u5ea7\u306e\u958b\u8a2d\u6570\u304c\u6025\u5897\u3059\u308b\u306a\u3069\u500b\u4eba\u6295\u8cc7\u5bb6\u304c\u8cb7\u3044\u306b\u8d70\u3063\u3066\u3044\u308b\u3053\u3068\u306f\u9593\u9055\u3044\u306a\u3044\u304c\u3001\u4e00\u65b9\u3067\u30d7\u30ed\u306e\u52d5\u304d\u306f\u305d\u308c\u3068\u306f\u7570\u306a\u3063\u3066\u306f\u3044\u308b\u3002<\/p>\n\n\n\n<!--more-->\n\n\n\n<p>\u3053\u308c\u307e\u3067\u6a5f\u95a2\u6295\u8cc7\u5bb6\u306e\u7c73\u56fd\u682a\u8cb7\u3044\u30dd\u30b8\u30b7\u30e7\u30f3\u3092\u958b\u793a\u3059\u308bForm 13F\u304b\u3089\u30b8\u30e7\u30fc\u30b8\u30fb\u30bd\u30ed\u30b9\u6c0f\u3001\u30b9\u30bf\u30f3\u30ec\u30fc\u30fb\u30c9\u30e9\u30c3\u30b1\u30f3\u30df\u30e9\u30fc\u6c0f\u306e\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u3092\u7d39\u4ecb\u3057\u3066\u304d\u305f\u304c\u3001\u4eca\u56de\u306f\u4e16\u754c\u6700\u5927\u306e\u30d8\u30c3\u30b8\u30d5\u30a1\u30f3\u30c9Bridgewater\u3092\u904b\u7528\u3059\u308b\u30ec\u30a4\u30fb\u30c0\u30ea\u30aa\u6c0f\u3092\u53d6\u308a\u4e0a\u3052\u305f\u3044\u3002<\/p>\n\n\n\n<p><strong>\u30c0\u30ea\u30aa\u6c0f\u306e\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa<\/strong><\/p>\n\n\n\n<p>\u3053\u3053\u307e\u3067\u306e\u304a\u3055\u3089\u3044\u3060\u304c\u3001\u30b3\u30ed\u30ca\u76f8\u5834\u306b\u304a\u3051\u308b\u682a\u9ad8\u3092\u53d7\u3051\u3066\u30bd\u30ed\u30b9\u6c0f\u306f\u50b5\u5238ETF\u3084\u516c\u76ca\u682aETF\u306a\u3069\u91d1\u5229\u4f4e\u4e0b\u3067\u4e0a\u6607\u3059\u308b\u682a\u3092\u8cb7\u3044\u5897\u3057\u305f\u3053\u3068\u3092\u5831\u3058\u3066\u304a\u3044\u305f\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/11604\" data-type=\"post\" data-id=\"11604\">\u30b8\u30e7\u30fc\u30b8\u30fb\u30bd\u30ed\u30b9\u6c0f\u3001\u7c73\u56fd\u682a\u3092\u8cb7\u3044\u5897\u3057\u3001\u91d1\u5229\u4f4e\u4e0b\u3092\u4e88\u60f3<\/a><\/li><\/ul>\n\n\n\n<p>\u305d\u3057\u3066\u30bd\u30ed\u30b9\u6c0f\u306e\u5f1f\u5b50\u306b\u3042\u305f\u308b\u30b9\u30bf\u30f3\u30ec\u30fc\u30fb\u30c9\u30e9\u30c3\u30b1\u30f3\u30df\u30e9\u30fc\u6c0f\u306f\u7c73\u56fd\u682a\u3092\u8cb7\u3044\u5897\u3057\u305f\u3082\u306e\u306e\u3001Amazon\u306a\u3069\u5e95\u5024\u3067\u8cb7\u3063\u3066\u3044\u305f\u30cf\u30a4\u30c6\u30af\u682a\u306b\u95a2\u3057\u3066\u306f\u4e00\u90e8\u5229\u76ca\u78ba\u5b9a\u3057\u3066\u3044\u305f\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/11611\" data-type=\"post\" data-id=\"11611\">\u30c9\u30e9\u30c3\u30b1\u30f3\u30df\u30e9\u30fc\u6c0f\u304c\u7c73\u56fd\u682a\u8cb7\u3044\u5897\u3057\u3001\u30cf\u30a4\u30c6\u30af\u682a\u306f\u4e00\u90e8\u5229\u76ca\u78ba\u5b9a<\/a><\/li><\/ul>\n\n\n\n<p>\u30c9\u30e9\u30c3\u30b1\u30f3\u30df\u30e9\u30fc\u6c0f\u306f\u305d\u308c\u3067\u3082\u78ba\u304b\u306b\u7c73\u56fd\u682a\u306e\u8cb7\u3044\u5897\u3057\u3068\u8a00\u3048\u308b\u306e\u3060\u304c\u3001\u30bd\u30ed\u30b9\u6c0f\u306b\u3064\u3044\u3066\u306f\u5b9f\u8cea\u7684\u306b\u306f\u682a\u9ad8\u3067\u306f\u306a\u304f\u91d1\u5229\u4f4e\u4e0b\u306b\u8ced\u3051\u3066\u3044\u308b\u3068\u8a00\u3048\u308b\u3002\u8457\u540d\u30d8\u30c3\u30b8\u30d5\u30a1\u30f3\u30c9\u30de\u30cd\u30fc\u30b8\u30e3\u30fc\u3089\u306e\u30b3\u30ed\u30ca\u76f8\u5834\u306b\u5bfe\u3059\u308b\u5fae\u5999\u306a\u614b\u5ea6\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"612\" height=\"379\" src=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2020\/09\/2020-9-10-s-and-p-500-chart.png\" alt=\"\" class=\"wp-image-11661\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2020\/09\/2020-9-10-s-and-p-500-chart.png 612w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2020\/09\/2020-9-10-s-and-p-500-chart-300x186.png 300w\" sizes=\"auto, (max-width: 612px) 100vw, 612px\" \/><\/figure>\n\n\n\n<p>\u3067\u306f\u4e16\u754c\u6700\u5927\u306e\u30d8\u30c3\u30b8\u30d5\u30a1\u30f3\u30c9\u3092\u904b\u7528\u3059\u308b\u30c0\u30ea\u30aa\u6c0f\u306f\u3069\u3046\u3060\u308d\u3046\u304b\uff1f\u3000\u307e\u305aBridgewater\u306e\u7c73\u56fd\u682a\u8cb7\u3044\u30dd\u30b8\u30b7\u30e7\u30f3\u306e\u7dcf\u984d\u306e\u63a8\u79fb\u3092\u898b\u3066\u307f\u3088\u3046\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>2019\u5e743\u6708\u672b:<\/strong> 163\u5104\u30c9\u30eb<\/li><li><strong>2019\u5e746\u6708\u672b:<\/strong> 128\u5104\u30c9\u30eb<\/li><li><strong>2019\u5e749\u6708\u672b:<\/strong> 114\u5104\u30c9\u30eb<\/li><li><strong>2019\u5e7412\u6708\u672b:<\/strong> 98\u5104\u30c9\u30eb<\/li><li><strong>2020\u5e743\u6708\u672b:<\/strong> 50\u5104\u30c9\u30eb<\/li><li><strong>2020\u5e746\u6708\u672b:<\/strong> 60\u5104\u30c9\u30eb<\/li><\/ul>\n\n\n\n<p>\u30b3\u30ed\u30ca\u76f8\u5834\u306f3\u6708\u672b\u306b\u5e95\u3092\u8fce\u3048\u3001\u305d\u306e\u5f8c\u4e0a\u6607\u3057\u3066\u3044\u308b\u3002\u5e95\u5024\u3060\u3063\u305f3\u6708\u672b\u304b\u3089\u30dd\u30b8\u30b7\u30e7\u30f3\u7dcf\u984d\u306f\u5897\u3048\u3066\u306f\u3044\u308b\u304c\u3001\u682a\u4fa1\u4e0a\u6607\u306b\u3088\u308b\u30dd\u30b8\u30b7\u30e7\u30f3\u91d1\u984d\u306e\u5897\u52a0\u3092\u8003\u3048\u308c\u3070\u8cb7\u3044\u5897\u3057\u305f\u308f\u3051\u3067\u306f\u306a\u3044\u3068\u8a00\u3046\u306e\u304c\u59a5\u5f53\u3060\u308d\u3046\u3002\u305d\u3057\u3066\u3069\u3061\u3089\u306b\u3057\u3066\u30822019\u5e743\u6708\u306e163\u5104\u30c9\u30eb\u306b\u306f\u9060\u304f\u53ca\u3070\u306a\u3044\u898f\u6a21\u306e\u30dd\u30b8\u30b7\u30e7\u30f3\u3057\u304b\u6301\u3063\u3066\u3044\u306a\u3044\u3002<\/p>\n\n\n\n<p><strong>\u500b\u5225\u9298\u67c4<\/strong><\/p>\n\n\n\n<p>\u898f\u6a21\u304b\u3089\u898b\u308c\u3070\u30c0\u30ea\u30aa\u6c0f\u306f\u7a4d\u6975\u7684\u306b\u7c73\u56fd\u682a\u3092\u8cb7\u3063\u3066\u3044\u308b\u308f\u3051\u3067\u306f\u306a\u3055\u305d\u3046\u3067\u3042\u308b\u3002\u3067\u306f\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u306e\u5185\u5bb9\u306f\u3069\u3046\u3060\u308d\u3046\u304b\u3002\u500b\u5225\u682a\u306e\u306a\u304b\u3067\u9855\u8457\u306a\u30dd\u30b8\u30b7\u30e7\u30f3\u306e\u5909\u5316\u304c\u3042\u3063\u305f\u3082\u306e\u306f\u4ee5\u4e0b\u306e\u901a\u308a\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>\u91d1ETF:<\/strong> 6\u5104\u30c9\u30eb -> 9\u5104\u30c9\u30eb<\/li><li><strong>\u4e2d\u56fd\u682aETF:<\/strong> 0.2\u5104\u30c9\u30eb -> 2\u5104\u30c9\u30eb<\/li><li><strong>Alibaba Group:<\/strong> 0.5\u5104\u30c9\u30eb -> 2\u5104\u30c9\u30eb<\/li><li><strong>\u8d85\u9577\u671f\u56fd\u50b5ETF:<\/strong> 3\u5104\u30c9\u30eb -> 0\u30c9\u30eb<\/li><\/ul>\n\n\n\n<p>\u30b4\u30fc\u30eb\u30c9\u3068\u4e2d\u56fd\u682a\u306e\u5897\u52a0\u304c\u76ee\u7acb\u3064\u3002\u7c73\u56fd\u682a\u3067\u306f\u306a\u3044\u3002\u30bd\u30ed\u30b9\u6c0f\u3068\u540c\u69d8\u3001\u5897\u984d\u5206\u306f\u5b9f\u8cea\u7684\u306b\u306f\u7c73\u56fd\u682a\u305d\u306e\u3082\u306e\u3067\u306f\u306a\u3044\u30b7\u30ca\u30ea\u30aa\u306b\u8ced\u3051\u3089\u308c\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<p>\u9762\u767d\u3044\u306e\u306f\u30bd\u30ed\u30b9\u6c0f\u304c\u91d1\u5229\u4f4e\u4e0b\u306b\u8ced\u3051\u3066\u3044\u308b\u306e\u306b\u5bfe\u3057\u3066\u3001\u30c0\u30ea\u30aa\u6c0f\u306f\u30a4\u30f3\u30d5\u30ec\u306b\u8ced\u3051\u3066\u3044\u308b\u3068\u3044\u3046\u3053\u3068\u3067\u3042\u308b\u3002\u30c0\u30ea\u30aa\u6c0f\u306f\u8d85\u9577\u671f\u56fd\u50b5ETF\uff08TLT\uff09\u306e\u30dd\u30b8\u30b7\u30e7\u30f3\u3092\u9589\u3058\u3066\u3044\u308b\u304c\u3001\u91d1\u5229\u4f4e\u4e0b\u306b\u8ced\u3051\u308b\u306a\u3089\u3070\u3053\u3053\u306f\u50b5\u5238\u306e\u8cb7\u3044\u3092\u5897\u3084\u3059\u5c40\u9762\u3067\u3042\u308b\u3002\u305d\u3057\u3066\u30c0\u30ea\u30aa\u6c0f\u306f\u91d1\u3092\u8cb7\u3063\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<p><strong>\u7d50\u8ad6<\/strong><\/p>\n\n\n\n<p>\u30b3\u30ed\u30ca\u76f8\u5834\u306b\u304a\u3044\u3066\u8457\u540d\u30d5\u30a1\u30f3\u30c9\u30de\u30cd\u30fc\u30b8\u30e3\u30fc\u306e\u610f\u898b\u306f\u5fae\u5999\u306b\u7570\u306a\u3063\u3066\u304a\u308a\u3001\u4e09\u8005\u4e09\u69d8\u3068\u306a\u3063\u3066\u3044\u308b\u3002\u4e00\u756a\u682a\u5f0f\u5e02\u5834\u306b\u5f37\u6c17\u306a\u306e\u306f\u30c9\u30e9\u30c3\u30b1\u30f3\u30df\u30e9\u30fc\u6c0f\u3060\u304c\u3001\u305d\u308c\u3067\u3082\u8cb7\u3044\u30dd\u30b8\u30b7\u30e7\u30f3\u306f\u672c\u6c17\u306e\u8cb7\u3044\u306e\u898f\u6a21\u304b\u3089\u306f\u7a0b\u9060\u3044\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/11611\" data-type=\"post\" data-id=\"11611\">\u30c9\u30e9\u30c3\u30b1\u30f3\u30df\u30e9\u30fc\u6c0f\u304c\u7c73\u56fd\u682a\u8cb7\u3044\u5897\u3057\u3001\u30cf\u30a4\u30c6\u30af\u682a\u306f\u4e00\u90e8\u5229\u76ca\u78ba\u5b9a<\/a><\/li><\/ul>\n\n\n\n<p>\u30bd\u30ed\u30b9\u6c0f\u3068\u30c0\u30ea\u30aa\u6c0f\u306f\u660e\u3089\u304b\u306b\u682a\u5f0f\u5e02\u5834\u304b\u3089\u4e00\u6b69\u5f15\u3044\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<p>\u30c0\u30ea\u30aa\u6c0f\u304c\u69d8\u3005\u306a\u3053\u3068\u3092\u8003\u3048\u3066\u3053\u3046\u3044\u3046\u30dd\u30b8\u30b7\u30e7\u30f3\u306b\u306a\u3063\u3066\u3044\u308b\u3068\u3044\u3046\u3053\u3068\u306f\u3001\u3053\u308c\u307e\u3067\u306e\u8a18\u4e8b\u3092\u8aad\u3081\u3070\u5206\u304b\u308b\u3053\u3068\u3067\u3042\u308b\u3002\u305d\u3061\u3089\u3082\u53c2\u8003\u306b\u3057\u3066\u3082\u3089\u3044\u305f\u3044\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/10592\" data-type=\"post\" data-id=\"10592\">\u4e16\u754c\u6700\u5927\u306e\u30d8\u30c3\u30b8\u30d5\u30a1\u30f3\u30c9: \u4e2d\u56fd\u304c\u8987\u6a29\u3092\u63e1\u308a\u30c9\u30eb\u306f\u57fa\u8ef8\u901a\u8ca8\u3067\u306a\u304f\u306a\u308b<\/a><\/li><li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/10473\" data-type=\"post\" data-id=\"10473\">\u4e16\u754c\u6700\u5927\u306e\u30d8\u30c3\u30b8\u30d5\u30a1\u30f3\u30c9: 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