{"id":580,"date":"2015-01-10T17:05:40","date_gmt":"2015-01-10T08:05:40","guid":{"rendered":"http:\/\/www.globalmacroresearch.org\/jp\/?p=580"},"modified":"2015-07-16T00:34:19","modified_gmt":"2015-07-15T15:34:19","slug":"2015%e5%b9%b4%e3%80%81%e3%82%bd%e3%83%ad%e3%82%b9%e3%81%aa%e3%81%a9%e3%83%98%e3%83%83%e3%82%b8%e3%83%95%e3%82%a1%e3%83%b3%e3%83%89%e3%81%af%e7%a9%ba%e5%a3%b2%e3%82%8a%e3%82%92%e5%a7%8b%e3%82%81","status":"publish","type":"post","link":"https:\/\/www.globalmacroresearch.org\/jp\/archives\/580","title":{"rendered":"2015\u5e74\u3001\u30bd\u30ed\u30b9\u306a\u3069\u30d8\u30c3\u30b8\u30d5\u30a1\u30f3\u30c9\u306f\u7a7a\u58f2\u308a\u3092\u59cb\u3081\u3066\u3044\u308b"},"content":{"rendered":"<p>2015\u5e74\u306b\u5165\u308a\u3001\u682a\u5f0f\u5e02\u5834\u306f\u3084\u3084\u4e0d\u5b89\u5b9a\u306a\u52d5\u304d\u3092\u7d9a\u3051\u3066\u3044\u308b\u304c\u3001\u7c73\u56fd\u306e\u666f\u6c17\u56de\u5fa9\u3068\u65e5\u6b27\u306e\u91d1\u878d\u7de9\u548c\u306b\u3088\u308a\u7c73\u56fd\u5e02\u5834\u306f\u3044\u307e\u3060\u5e02\u5834\u6700\u9ad8\u5024\u306e\u6c34\u6e96\u306b\u3042\u308a\u3001\u307e\u305f\u539f\u6cb9\u5b89\u3082\u500b\u4eba\u6d88\u8cbb\u3092\u4fc3\u9032\u3059\u308b\u3053\u3068\u304b\u3089\u3001\u8ab0\u3082\u7c73\u56fd\u306e\u666f\u6c17\u56de\u5fa9\u3092\u7591\u3063\u3066\u3044\u306a\u3044\u3002\u3057\u304b\u30571\u6708\u6642\u70b9\u3067S&amp;P 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(NASDAQ:AMZN\u3001<a href=\"https:\/\/www.google.com\/finance?q=NASDAQ:AMZN\" target=\"_blank\">Google Finance<\/a>)\u3092\u8ffd\u52a0\u3057\u305f\u3053\u3068\u3092\u767a\u8868\u3057\u305f\u3002<\/p>\n<p>\u30d0\u30d6\u30eb\u76f8\u5834\u306e\u5178\u578b\u7684\u306a\u7279\u5fb4\u306e1\u3064\u306f\u5c06\u6765\u306e\u53ce\u76ca\u304c\u8a87\u5f35\u3055\u308c\u308b\u3053\u3068\u306b\u3042\u308a\u3001\u305d\u3046\u3044\u3046\u5c40\u9762\u3067\u306f\u73fe\u6642\u70b9\u3067\u5229\u76ca\u3092\u51fa\u3057\u3066\u304a\u3089\u305a\u3068\u3082\u5c06\u6765\u306e\u8f1d\u304b\u3057\u3044\u30b9\u30c8\u30fc\u30ea\u30fc\u306e\u3042\u308b\u9298\u67c4\u304c\u8cb7\u308f\u308c\u3066\u3086\u304f\u3002\u3057\u304b\u3057\u6295\u8cc7\u5bb6\u304c\u30dd\u30b8\u30b7\u30e7\u30f3\u3092\u7e2e\u5c0f\u3059\u308b\u3068\u304d\u306b\u771f\u3063\u5148\u306b\u58f2\u3089\u308c\u308b\u9298\u67c4\u3082\u305d\u3046\u3044\u3046\u9298\u67c4\u3067\u3042\u308a\u3001\u30cf\u30a4\u30c6\u30af\u682a\u306f\u305d\u306e\u5178\u578b\u306a\u306e\u3067\u3042\u308b\u3002\u4e0b\u843d\u5c40\u9762\u3067\u306f\u3001\u3069\u3046\u3044\u3046\u9298\u67c4\u304b\u3089\u58f2\u3089\u308c\u308b\u306e\u304b\u3092\u8003\u3048\u308b\u3053\u3068\u304c\u975e\u5e38\u306b\u91cd\u8981\u3067\u3042\u308b\u3002<\/p>\n<p><strong>\u30d0\u30a4\u30aa\u682a<\/strong><\/p>\n<p>\u30cf\u30a4\u30c6\u30af\u682a\u3068\u4e26\u3093\u3067\u5c06\u6765\u6027\u3092\u8cb7\u308f\u308c\u308b\u30bb\u30af\u30bf\u30fc\u304c\u30d0\u30a4\u30aa\u682a\u3067\u3042\u308b\u3002\u3068\u308a\u308f\u3051\u6700\u8fd1\u306e\u7c73\u56fd\u3067\u306f\u30c9\u30c3\u30c8\u30b3\u30e0\u30d0\u30d6\u30eb\u306e\u6642\u306e\u3088\u3046\u306a\u83ef\u3084\u304b\u306a\u8d77\u696d\u30b9\u30c8\u30fc\u30ea\u30fc\u304c\u76f8\u6b21\u3044\u3067\u304a\u308a\u3001\u516c\u958b\u682a\u3060\u3051\u3067\u306f\u306a\u304f\u30d9\u30f3\u30c1\u30e3\u30fc\u30ad\u30e3\u30d4\u30bf\u30eb\u3084\u30b7\u30fc\u30c9\u30d5\u30a1\u30f3\u30c7\u30a3\u30f3\u30b0\u306a\u3069\u306e\u30ec\u30d9\u30eb\u3067\u306e\u30d0\u30a4\u30aa\u682a\u3078\u306e\u6295\u8cc7\u3082\u76db\u3093\u3067\u3042\u308b\u304c\u3001\u8cea\u306e\u826f\u3044\u4f01\u696d\u3082\u3042\u308b\u4e00\u65b9\u3067\u3001\u5ea6\u3092\u8d8a\u3057\u305f\u8a55\u4fa1\u984d\u306e\u9298\u67c4\u306f\u6628\u4eca\u3067\u306f\u30d0\u30a4\u30aa\u682a\u306e\u307b\u3046\u306b\u591a\u3044\u3088\u3046\u306b\u898b\u53d7\u3051\u3089\u308c\u308b\u3002<\/p>\n<p>SEC\uff08\u8a3c\u5238\u53d6\u5f15\u59d4\u54e1\u4f1a\uff09\u306e\u516c\u958b\u3059\u308bForm 13F\u306b\u304a\u3044\u3066\u3001\u30b8\u30e7\u30fc\u30b8\u30fb\u30bd\u30ed\u30b9\u6c0f\u306e\u30bd\u30ed\u30b9\u30fb\u30d5\u30a1\u30f3\u30c9\u30fb\u30de\u30cd\u30b8\u30e1\u30f3\u30c8\u306e\u4fdd\u6709\u3059\u308b\u682a\u5f0f\u53ca\u3073\u500b\u5225\u682a\u30aa\u30d7\u30b7\u30e7\u30f3\u306e\u30ea\u30b9\u30c8\u304c\u56db\u534a\u671f\u3054\u3068\u306b\u516c\u958b\u3055\u308c\u3066\u3044\u308b\u3002\u7a7a\u58f2\u308a\u3084\u5148\u7269\u53d6\u5f15\u306f\u516c\u958b\u3055\u308c\u3066\u3044\u306a\u3044\u304c\u3001\u5c11\u306a\u304f\u3068\u3082\u30d7\u30c3\u30c8\u30fb\u30aa\u30d7\u30b7\u30e7\u30f3\u306e\u8cb7\u3044\u306f\u898b\u308b\u3053\u3068\u304c\u3067\u304d\u30012014\u5e74\u7b2c3\u56db\u534a\u671f\u306e\u30c7\u30fc\u30bf\u3067\u306f\u3001\u30bd\u30ed\u30b9\u6c0f\u306fiShares Nasdaq Biotechnology ETF\u306e\u30d7\u30c3\u30c8\u3092\u4fdd\u6709\u3057\u3066\u3044\u308b\u3002\u3053\u306e\u3088\u3046\u306b\u3001ETF\u3092\u5229\u7528\u3057\u3066\u500b\u5225\u9298\u67c4\u3092\u6307\u5b9a\u305b\u305a\u306b\u30bb\u30af\u30bf\u30fc\u3054\u3068\u58f2\u308a\u8cb7\u3044\u3059\u308b\u3053\u3068\u306f\u3001\u30b0\u30ed\u30fc\u30d0\u30eb\u30fb\u30de\u30af\u30ed\u6226\u7565\u306e\u7279\u5fb4\u3067\u3042\u308b\u3002<\/p>\n<p><strong>\u30a8\u30cd\u30eb\u30ae\u30fc\u682a<\/strong><\/p>\n<p>\u7c73\u56fd\u306e\u4f1d\u7d71\u7684\u306a\u77f3\u6cb9\u4f1a\u793e\u306f\u512a\u826f\u4f01\u696d\u304c\u591a\u3044\u3068\u306f\u3044\u3048\u3001\u3053\u306e\u3088\u3046\u306a\u539f\u6cb9\u4fa1\u683c\u306e\u4e0b\u843d\u306e\u3082\u3068\u3067\u306f\u9ad8\u3044\u53ce\u76ca\u3092\u78ba\u4fdd\u3057\u7d9a\u3051\u308b\u3053\u3068\u306f\u96e3\u3057\u3044\u3002\u539f\u6cb9\u4fa1\u683c\u306e\u5148\u884c\u304d\u306f\u4e0b\u8a18\u8a18\u4e8b\u3092\u53c2\u7167\u3002<\/p>\n<ul>\n<li><a title=\"\u539f\u6cb9\u5b89\u306f\u3044\u3064\u307e\u3067\u7d9a\u304f\u306e\u304b\uff1f\u3000\u539f\u6cb9\u5b89\u3092\u30c8\u30ec\u30fc\u30c9\u3059\u308b5\u3064\u306e\u65b9\u6cd5\" href=\"http:\/\/www.globalmacroresearch.org\/jp\/archives\/560\">\u539f\u6cb9\u5b89\u306f\u3044\u3064\u307e\u3067\u7d9a\u304f\u306e\u304b\uff1f\u3000\u539f\u6cb9\u5b89\u3092\u30c8\u30ec\u30fc\u30c9\u3059\u308b5\u3064\u306e\u65b9\u6cd5<\/a><\/li>\n<\/ul>\n<p>\u30bd\u30ed\u30b9\u6c0f\u306fExxon Mobil (NYSE:XON\u3001<a href=\"https:\/\/www.google.com\/finance?q=NYSE:XOM\" target=\"_blank\">Google Finance<\/a>)\u3082\u5f53\u5206\u306f\u53b3\u3057\u3044\u72b6\u6cc1\u4e0b\u306b\u7f6e\u304b\u308c\u308b\u3068\u5224\u65ad\u3057\u305f\u3089\u3057\u304f\u3001Exxon\u306e\u30d7\u30c3\u30c8\u30fb\u30aa\u30d7\u30b7\u30e7\u30f3\u3092\u5c11\u91cf\u3067\u3042\u308b\u304c\u8cfc\u5165\u3057\u3066\u3044\u308b\u3002\u4e0a\u8a18\u306e\u8a18\u4e8b\u3067\u5206\u6790\u3057\u305f\u901a\u308a\u3001\u5c11\u306a\u304f\u3068\u3082\u534a\u5e74\u306f\u30a8\u30cd\u30eb\u30ae\u30fc\u682a\u306b\u3068\u3063\u3066\u53b3\u3057\u3044\u72b6\u6cc1\u304c\u7d9a\u304f\u3060\u308d\u3046\u3002<\/p>\n<p><strong>\u65b0\u8208\u56fd\u682a<\/strong><\/p>\n<p>\u30bd\u30ed\u30b9\u6c0f\u306e\u4fdd\u6709\u3059\u308b\u30d7\u30c3\u30c8\u30fb\u30aa\u30d7\u30b7\u30e7\u30f3\u306e\u306a\u304b\u3067\u3001\u65b0\u8208\u56fd\u306e\u5c0f\u578b\u682a\u3067\u69cb\u6210\u3055\u308c\u308biShares MSCI Emerging Markets ETF\u306e\u30d7\u30c3\u30c8\u306f\u3001S&amp;P500\u306e\u30d7\u30c3\u30c8\u3092\u9664\u3051\u3070\u6700\u5927\u306e\u30dd\u30b8\u30b7\u30e7\u30f3\u3067\u3042\u308b\u3002\u7121\u8ad6\u3001\u7d14\u7c8b\u306a\u7a7a\u58f2\u308a\u306e\u30dd\u30b8\u30b7\u30e7\u30f3\u304c\u516c\u958b\u3055\u308c\u3066\u3044\u306a\u3044\u306e\u3067\u3001\u5f7c\u306e\u30b7\u30e7\u30fc\u30c8\u30dd\u30b8\u30b7\u30e7\u30f3\u5168\u4f53\u3092\u63a8\u6e2c\u3059\u308b\u3053\u3068\u306f\u3067\u304d\u306a\u3044\u304c\u3001\u5f7c\u304c\u65b0\u8208\u56fd\u5e02\u5834\u306e\u4e0b\u3052\u3092\u8b66\u6212\u3057\u3066\u3044\u308b\u3053\u3068\u306f\u78ba\u304b\u3060\u308d\u3046\u3002\u7c73\u56fd\u306e\u5229\u4e0a\u3052\u304c\u8fd1\u3044\u3053\u3068\u306b\u3088\u308b\u65b0\u8208\u56fd\u304b\u3089\u306e\u8cc7\u91d1\u6d41\u51fa\u306f\u3001\u30b0\u30ed\u30fc\u30d0\u30eb\u30de\u30af\u30ed\u306e\u738b\u9053\u3067\u3042\u308a\u3001\u5f7c\u306f\u3053\u306e\u5834\u9762\u3067\u3082\u305d\u308c\u3092\u8e0f\u8972\u3057\u305f\u3053\u3068\u306b\u306a\u308b\u3002<\/p>\n<p><strong>\u898b\u901a\u3057<\/strong><\/p>\n<p>\u65e5\u6b27\u306e\u91d1\u878d\u7de9\u548c\u306b\u3088\u3063\u3066\u7c73\u56fd\u306e\u9577\u671f\u91d1\u5229\u306f\u518d\u3073\u4e0b\u843d\u50be\u5411\u306b\u3042\u308a\u3001\u682a\u5f0f\u304b\u3089\u50b5\u5238\u3078\u306e\u8cc7\u91d1\u6d41\u51fa\u306f\u6765\u5e74\u306b\u6301\u3061\u8d8a\u3055\u308c\u308b\u53ef\u80fd\u6027\u3082\u3042\u308b\u3002\u3057\u304b\u3057\u3001\u7c73\u56fd\u306e\u7d4c\u6e08\u304c\u56de\u5fa9\u57fa\u8abf\u306b\u3042\u308b\u304b\u3089\u7c73\u56fd\u682a\u304c\u8cb7\u3044\u3060\u3068\u3044\u3046\u5b89\u76f4\u306a\u5224\u65ad\u3067\u6295\u8cc7\u3092\u3059\u308b\u306e\u306f\u3001\u30d6\u30e9\u30c3\u30af\u30de\u30f3\u30c7\u30fc\u306e\u3088\u3046\u306a\u66b4\u843d\u3092\u77e5\u3089\u306a\u3044\u6295\u8cc7\u5bb6\u3060\u3051\u3067\u3042\u308b\u30021987\u5e74\u5f53\u6642\u306eP\/E\u306f\u3044\u307e\u3088\u308a\u3082\u4f4e\u304f\u3001\u3057\u304b\u3082GDP\u6210\u9577\u7387\u306f\u3044\u307e\u3088\u308a\u3082\u9ad8\u304b\u3063\u305f\u306e\u3060\u3002<\/p>\n<p>\u30d0\u30d6\u30eb\u3068\u3044\u3046\u3082\u306e\u306f\u5929\u4e95\u77e5\u3089\u305a\u3067\u3042\u308b\u304b\u3089\u30012015\u5e74\u306e\u3042\u3044\u3060\u306b\u4e0a\u8a18\u306b\u6319\u3052\u305f\u30bb\u30af\u30bf\u30fc\u304c\u3053\u306e\u307e\u307e\u4e0a\u304c\u308a\u7d9a\u3051\u308b\u53ef\u80fd\u6027\u3082\u3042\u308b\u3002\u3057\u304b\u3057\u3053\u3046\u3044\u3046\u3082\u306e\u3092\u53d6\u308a\u306b\u884c\u304b\u305a\u3001\u9700\u7d66\u306e\u89b3\u70b9\u304b\u3089\u5145\u5206\u8d77\u3053\u308a\u3046\u308b\u6025\u843d\u306b\u5099\u3048\u308b\u3068\u3044\u3046\u3053\u3068\u306f\u3001\u6295\u8cc7\u5bb6\u306b\u3068\u3063\u3066\u3082\u3063\u3068\u3082\u91cd\u8981\u306a\u5224\u65ad\u306e1\u3064\u3067\u3042\u308b\u3002\u5371\u3046\u3044\u30b7\u30ca\u30ea\u30aa\u306b\u8ced\u3051\u308b\u3088\u308a\u306f\u3001\u4e0d\u78ba\u5b9f\u6027\u306e\u5c11\u306a\u3044\u30b7\u30ca\u30ea\u30aa\u306b\u5927\u304d\u304f\u8ced\u3051\u308b\u307b\u3046\u304c\u3001\u5e73\u5747\u30ea\u30bf\u30fc\u30f3\u306f\u5927\u304d\u3044\u3082\u306e\u306a\u306e\u3060\u3002<\/p>\n","protected":false},"excerpt":{"rendered":"<p>2015\u5e74\u306b\u5165\u308a\u3001\u682a\u5f0f\u5e02\u5834\u306f\u3084\u3084\u4e0d\u5b89\u5b9a\u306a\u52d5\u304d\u3092\u7d9a\u3051\u3066\u3044\u308b\u304c\u3001\u7c73\u56fd\u306e\u666f\u6c17\u56de\u5fa9\u3068\u65e5\u6b27\u306e\u91d1\u878d\u7de9\u548c\u306b\u3088\u308a\u7c73\u56fd\u5e02\u5834\u306f\u3044\u307e\u3060\u5e02\u5834\u6700\u9ad8\u5024\u306e\u6c34\u6e96\u306b\u3042\u308a\u3001\u307e\u305f\u539f\u6cb9\u5b89\u3082\u500b\u4eba\u6d88\u8cbb\u3092\u4fc3\u9032\u3059\u308b\u3053\u3068\u304b\u3089\u3001\u8ab0\u3082\u7c73\u56fd\u306e\u666f\u6c17\u56de\u5fa9\u3092\u7591\u3063\u3066\u3044\u306a\u3044\u3002\u3057\u304b\u30571\u6708 &hellip; <a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/580\" class=\"more-link\">\u7d9a\u304d\u3092\u8aad\u3080 <span class=\"screen-reader-text\">2015\u5e74\u3001\u30bd\u30ed\u30b9\u306a\u3069\u30d8\u30c3\u30b8\u30d5\u30a1\u30f3\u30c9\u306f\u7a7a\u58f2\u308a\u3092\u59cb\u3081\u3066\u3044\u308b<\/span> <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[59],"tags":[35,41,58,60,64,65,82],"class_list":["post-580","post","type-post","status-publish","format-standard","hentry","category-us-stock-market","tag-short-selling","tag-george-soros","tag-crude-oil","tag-david-einhorn","tag-fed","tag-portfolio-rebalancing","tag-amazon-com-nasdaq-amzn"],"_links":{"self":[{"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/580","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/comments?post=580"}],"version-history":[{"count":9,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/580\/revisions"}],"predecessor-version":[{"id":589,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/580\/revisions\/589"}],"wp:attachment":[{"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/media?parent=580"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/categories?post=580"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/tags?post=580"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}