{"id":64674,"date":"2025-05-06T20:00:00","date_gmt":"2025-05-06T11:00:00","guid":{"rendered":"https:\/\/www.globalmacroresearch.org\/jp\/?p=64674"},"modified":"2025-05-05T23:59:51","modified_gmt":"2025-05-05T14:59:51","slug":"%e3%83%90%e3%83%95%e3%82%a7%e3%83%83%e3%83%88%e6%b0%8f-%e6%97%a5%e6%9c%ac%e5%86%86%e3%81%ae%e4%b8%8b%e8%90%bd%e3%81%af%e5%ae%b9%e6%98%93%e3%81%ab%e4%ba%88%e6%83%b3%e5%8f%af%e8%83%bd%e3%80%81%e3%83%89","status":"publish","type":"post","link":"https:\/\/www.globalmacroresearch.org\/jp\/archives\/64674","title":{"rendered":"\u30d0\u30d5\u30a7\u30c3\u30c8\u6c0f: \u65e5\u672c\u5186\u306e\u4e0b\u843d\u306f\u5bb9\u6613\u306b\u4e88\u60f3\u53ef\u80fd\u3001\u30c9\u30eb\u306f\u300c\u5730\u7344\u884c\u304d\u306e\u901a\u8ca8\u300d"},"content":{"rendered":"\n<p>Berkshire Hathaway\u306e\u30a6\u30a9\u30fc\u30ec\u30f3\u30fb\u30d0\u30d5\u30a7\u30c3\u30c8\u6c0f\u304c\u682a\u4e3b\u7dcf\u4f1a\u3067\u5f15\u9000\u3092\u8868\u660e\u3057\u305f\u3002\u3053\u3053\u3067\u306f\u666e\u6bb5\u306f\u30d0\u30d5\u30a7\u30c3\u30c8\u6c0f\u306e\u767a\u8a00\u306f\u3042\u307e\u308a\u53d6\u308a\u4e0a\u3052\u3066\u3044\u306a\u3044\u306e\u3060\u304c\u3001\u6700\u5f8c\u3068\u3044\u3046\u3053\u3068\u3068\u3001\u91cd\u8981\u306a\u767a\u8a00\u304c\u3042\u3063\u305f\u3053\u3068\u304b\u3089\u3001\u4eca\u56de\u306f\u53d6\u308a\u4e0a\u3052\u3066\u307f\u305f\u3044\u3002<\/p>\n\n\n\n<!--more-->\n\n\n\n<p><strong>\u30d0\u30d5\u30a7\u30c3\u30c8\u6c0f\u306e\u30b0\u30ed\u30fc\u30d0\u30eb\u30de\u30af\u30ed\u6226\u7565<\/strong><\/p>\n\n\n\n<p>\u30d0\u30d5\u30a7\u30c3\u30c8\u6c0f\u306f\u8a00\u308f\u305a\u3068\u77e5\u308c\u305f\u30d0\u30ea\u30e5\u30fc\u6295\u8cc7\u306e\u96c4\u3067\u3042\u308b\u3002\u3060\u304c\u3001\u30d0\u30d5\u30a7\u30c3\u30c8\u6c0f\u306e\u6295\u8cc7\u306f\u3001\u5b9f\u969b\u306b\u306f\u5358\u306b\u5272\u5b89\u306a\u682a\u3092\u8cb7\u3063\u3066\u9577\u671f\u4fdd\u6709\u3059\u308b\u3060\u3051\u3067\u306f\u306a\u3044\u3002<\/p>\n\n\n\n<p>\u7279\u306b\u3001\u8fd1\u5e74\u306f\u30de\u30af\u30ed\u60c5\u52e2\u3092\u8003\u616e\u3057\u305f\u6295\u8cc7\u3082\u591a\u304b\u3063\u305f\u3002\u6700\u8fd1\u3067\u306f\u4e09\u83f1\u5546\u4e8b\u3084\u4e09\u4e95\u7269\u7523\u306a\u3069\u65e5\u672c\u306e\u4e94\u5927\u5546\u793e\u306b\u6295\u8cc7\u3092\u3057\u305f\u3053\u3068\u3067\u6709\u540d\u3060\u304c\u3001\u91cd\u8981\u306a\u306e\u306f\u3053\u306e\u6295\u8cc7\u304c2020\u5e748\u6708\u3067\u3042\u308b\u3053\u3068\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>2020\u5e74\u306e\u590f\u3068\u8a00\u3048\u3070\u3001\u30b3\u30ed\u30ca\u521d\u671f\u3067\u3042\u308b\u3002\u73fe\u91d1\u7d66\u4ed8\u306f\u767a\u8868\u3055\u308c\u3066\u3044\u305f\u304c\u3001\u7d4c\u6e08\u306f\u3080\u3057\u308d\u307e\u3060\u505c\u6ede\u3057\u3066\u304a\u308a\u3001\u30a4\u30f3\u30d5\u30ec\u306b\u3064\u3044\u3066\u8a71\u3057\u3066\u3044\u308b\u4eba\u306f\u307b\u3068\u3093\u3069\u3044\u306a\u304b\u3063\u305f\u3002<\/p>\n\n\n\n<p>\u3060\u304c\u3053\u306e\u6642\u304b\u3089\u52d5\u3044\u3066\u3044\u305f\u4eba\u7269\u304c2\u4eba\u5c45\u305f\u3002Bridgewater\u306e\u30ec\u30a4\u30fb\u30c0\u30ea\u30aa\u6c0f\u3068\u3001\u3053\u306e\u30d0\u30d5\u30a7\u30c3\u30c8\u6c0f\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u30c0\u30ea\u30aa\u6c0f\u306f\u3001\u73fe\u91d1\u7d66\u4ed8\u304c\u6c7a\u5b9a\u3055\u308c\u305f\u3053\u3068\u3092\u898b\u308b\u3068\u3059\u3050\u306b\u3001\u6b74\u53f2\u4e0a\u306e\u8987\u6a29\u56fd\u5bb6\u304c\u30a4\u30f3\u30d5\u30ec\u3068\u50b5\u52d9\u904e\u591a\u306b\u3088\u3063\u3066\u8870\u9000\u3057\u3066\u3044\u3063\u305f\u4e8b\u5b9f\u3092\u8a73\u3057\u304f\u89e3\u8aac\u3059\u308b\u8457\u66f8\u300e<a href=\"https:\/\/amzn.to\/3IWcV1T\" target=\"_blank\" rel=\"noreferrer noopener\">\u4e16\u754c\u79e9\u5e8f\u306e\u5909\u5316\u306b\u5bfe\u51e6\u3059\u308b\u305f\u3081\u306e\u539f\u5247<\/a>\u300f\u3092\u66f8\u304d\u59cb\u3081\u305f\u3002<\/p>\n\n\n\n<p>\u305d\u306e\u5f8c\u3001\u8ab0\u3082\u304c\u77e5\u3063\u3066\u3044\u308b\u3088\u3046\u306b\u30a4\u30f3\u30d5\u30ec\u306b\u306a\u308a\u3001\u4eca\u3067\u306f\u91d1\u5229\u4e0a\u6607\u306b\u3088\u3063\u3066\u30a2\u30e1\u30ea\u30ab\u306e\u50b5\u52d9\u304c\u554f\u984c\u3068\u306a\u3063\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/61404\" data-type=\"post\" data-id=\"61404\">\u30ec\u30a4\u30fb\u30c0\u30ea\u30aa\u6c0f: \u8ca1\u653f\u8d64\u5b57\u7d99\u7d9a\u306a\u3089\u7c73\u56fd\u50b5\u306f\u30b7\u30e7\u30c3\u30ad\u30f3\u30b0\u306a\u72b6\u6cc1\u306b<\/a><\/li>\n<\/ul>\n\n\n\n<p><strong>\u30d0\u30d5\u30a7\u30c3\u30c8\u6c0f\u306e\u5546\u793e\u682a\u6295\u8cc7<\/strong><\/p>\n\n\n\n<p>\u305d\u3057\u3066\u3082\u30461\u4eba\u306e\u30d0\u30d5\u30a7\u30c3\u30c8\u6c0f\u306f\u30012020\u5e74\u306e8\u6708\u306b\u65e5\u672c\u306e\u5546\u793e\u682a\u306b\u5927\u5e45\u306a\u6295\u8cc7\u3092\u3057\u305f\u3002\u5546\u793e\u3068\u8a00\u3048\u3070\u3001\u539f\u6cb9\u3084\u5929\u7136\u30ac\u30b9\u3001\u91d1\u5c5e\u3084\u8fb2\u4f5c\u7269\u306a\u3069\u3001\u30b3\u30e2\u30c7\u30a3\u30c6\u30a3\u5168\u822c\u306e\u751f\u7523\u3068\u6d41\u901a\u306b\u95a2\u308f\u308b\u4f1a\u793e\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u305d\u3057\u3066\u305d\u306e\u76f4\u5f8c\u3001\u30b3\u30e2\u30c7\u30a3\u30c6\u30a3\u9298\u67c4\u304c\u7dcf\u3058\u3066\u4e0a\u6607\u3057\u59cb\u3081\u305f\u3002\u305d\u308c\u304c\u30a4\u30f3\u30d5\u30ec\u306e\u59cb\u307e\u308a\u3060\u3063\u305f\u3002\u5f53\u6642\u3001\u7b46\u8005\u306f\u3044\u3061\u65e9\u304f\u8a18\u4e8b\u3092\u66f8\u3044\u3066\u3044\u308b\u3002\u3053\u306e\u6642\u304b\u3089\u30a4\u30f3\u30d5\u30ec\u3092\u6c17\u306b\u3057\u3066\u3044\u305f\u4eba\u7269\u306f\u307b\u3068\u3093\u3069\u3044\u306a\u3044\u3060\u308d\u3046\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/11801\" data-type=\"post\" data-id=\"11801\">\u91d1\u878d\u5e02\u5834\u306b\u30a4\u30f3\u30d5\u30ec\u306e\u5146\u3057: \u91d1\u3001\u539f\u6cb9\u3001\u7a40\u7269\u4fa1\u683c\u304c\u9ad8\u9a30 (2020\/10\/14)<\/a><\/li>\n<\/ul>\n\n\n\n<p>\u3064\u307e\u308a\u3001\u30d0\u30d5\u30a7\u30c3\u30c8\u6c0f\u306f\u30a4\u30f3\u30d5\u30ec\u306e\u6642\u4ee3\u306b\u5099\u3048\u3066\u5546\u793e\u682a\u3092\u8cb7\u3063\u305f\u306e\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u305d\u308c\u306f\u30d0\u30ea\u30e5\u30fc\u6295\u8cc7\u5bb6\u3068\u3057\u3066\u77e5\u3089\u308c\u308b\u30d0\u30d5\u30a7\u30c3\u30c8\u6c0f\u306e\u3001\u512a\u308c\u305f\u30b0\u30ed\u30fc\u30d0\u30eb\u30de\u30af\u30ed\u6226\u7565\u6295\u8cc7\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u3060\u304c\u3053\u306e\u8a71\u306f\u305d\u3053\u3067\u7d42\u308f\u3089\u306a\u3044\u3002\u4f55\u6545\u306a\u3089\u3070\u3001\u30d0\u30d5\u30a7\u30c3\u30c8\u6c0f\u306f\u3053\u306e\u6295\u8cc7\u3092\u300c\u65e5\u672c\u5186\u3067\u501f\u91d1\u3057\u3066\u300d\u884c\u306a\u3063\u305f\u304b\u3089\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p><strong>\u65e5\u672c\u5186\u306e\u70ba\u66ff\u30d8\u30c3\u30b8<\/strong><\/p>\n\n\n\n<p>\u5f53\u305f\u308a\u524d\u3060\u304c\u3001\u5225\u306b\u30d0\u30d5\u30a7\u30c3\u30c8\u6c0f\u306f\u304a\u91d1\u304c\u306a\u304b\u3063\u305f\u304b\u3089\u65e5\u672c\u5186\u3067\u501f\u5165\u3057\u305f\u308f\u3051\u3067\u306f\u306a\u3044\u3002\u65e5\u672c\u5186\u3067\u501f\u91d1\u3092\u3057\u305f\u3053\u3068\u306b\u306f\u6226\u7565\u7684\u610f\u5473\u304c\u3042\u308b\u3002\u65e5\u672c\u5186\u3092\u501f\u308a\u3001\u305d\u306e\u304a\u91d1\u3067\u65e5\u672c\u682a\u306b\u6295\u8cc7\u3059\u308b\u3068\u3001\u30a2\u30e1\u30ea\u30ab\u4eba\u3067\u3042\u308b\u30d0\u30d5\u30a7\u30c3\u30c8\u6c0f\u306b\u3068\u3063\u3066\u306f\u65e5\u672c\u5186\u306e\u4e0b\u843d\u30ea\u30b9\u30af\u3092\u30d8\u30c3\u30b8\u3067\u304d\u308b\u304b\u3089\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u30d0\u30d5\u30a7\u30c3\u30c8\u6c0f\u304c\u624b\u6301\u3061\u306e\u30c9\u30eb\u3092\u666e\u901a\u306b\u65e5\u672c\u5186\u306b\u66ff\u3048\u3066\u65e5\u672c\u682a\u3092\u8cb7\u3048\u3070\u3001\u65e5\u672c\u5186\u304c\u4e0b\u304c\u308b\u3068\u5186\u5efa\u3066\u306e\u5546\u793e\u682a\u306e\u4fa1\u5024\u3082\u4e0b\u304c\u3063\u3066\u3057\u307e\u3046\u3002<\/p>\n\n\n\n<p>\u3060\u304c\u65e5\u672c\u5186\u3092\u501f\u308a\u3066\u65e5\u672c\u682a\u3092\u8cb7\u3046\u3068\u3001\u65e5\u672c\u5186\u306e\u4e0b\u843d\u306b\u3088\u308b\u640d\u5931\u306f\u3001\u5186\u5efa\u3066\u306e\u501f\u91d1\u306e\u4fa1\u5024\u4e0b\u843d\u306b\u3088\u3063\u3066\u76f8\u6bba\u3055\u308c\u308b\u3002\u501f\u308a\u305f\u65e5\u672c\u5186\u3092\u58f2\u3063\u3066\u65e5\u672c\u682a\u3092\u8cb7\u3063\u3066\u3044\u308b\u308f\u3051\u3060\u304b\u3089\u3001\u5186\u3092\u7a7a\u58f2\u308a\u3057\u3066\u3044\u308b\u72b6\u614b\u3068\u540c\u3058\u306a\u306e\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u30d0\u30d5\u30a7\u30c3\u30c8\u6c0f\u306f\u3053\u306e\u501f\u5165\u306e\u3053\u3068\u3092\u70ba\u66ff\u30d8\u30c3\u30b8\u3060\u3068\u516c\u8a00\u3057\u3066\u3044\u308b\u3002\u30d0\u30d5\u30a7\u30c3\u30c8\u6c0f\u306f\u682a\u4e3b\u7dcf\u4f1a\u3067\u6b21\u306e\u3088\u3046\u306b\u8a00\u3063\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u3053\u306e\u65e5\u672c\u682a\u306e\u30dd\u30b8\u30b7\u30e7\u30f3\u306b\u3064\u3044\u3066\u306f\u70ba\u66ff\u30d8\u30c3\u30b8\u304c\u3067\u304d\u305f\u3002\u3053\u308c\u3089\u306e\u9298\u67c4\u306f50\u5e74\u3084100\u5e74\u4fdd\u6709\u3059\u308b\u4e88\u5b9a\u3067\u3001\u65e5\u672c\u5186\u3067\u53d6\u5f15\u3055\u308c\u3066\u3044\u308b\u9298\u67c4\u3060\u304b\u3089\u3060\u3002\u3069\u3046\u306a\u308b\u304b\u7c21\u5358\u306b\u4e88\u60f3\u3067\u304d\u308b\u3060\u308d\u3046\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u65e5\u672c\u3067\u306f\u5546\u793e\u682a\u309250\u5e74\u4fdd\u6709\u3068\u3044\u3046\u767a\u8a00\u3060\u3051\u304c\u5207\u308a\u53d6\u3089\u308c\u3001\u65e5\u672c\u4eba\u306f\u5927\u559c\u3073\u3057\u3066\u3044\u308b\u304c\u3001\u3053\u306e\u767a\u8a00\u306f\u5186\u306e\u70ba\u66ff\u30d8\u30c3\u30b8\u306b\u3064\u3044\u3066\u306e\u8cea\u554f\u306b\u5bfe\u3057\u3066\u884c\u308f\u308c\u305f\u3002<\/p>\n\n\n\n<p>\u3060\u304b\u3089\u6050\u308d\u3057\u3044\u306e\u306f\u300c\u3069\u3046\u306a\u308b\u304b\u7c21\u5358\u306b\u4e88\u60f3\u3067\u304d\u308b\u300d\u3068\u3055\u3089\u308a\u3068\u8a00\u3063\u3066\u3044\u308b\u90e8\u5206\u3060\u308d\u3046\u3002\u30d0\u30d5\u30a7\u30c3\u30c8\u6c0f\u306f\u300150\u5e74\u5f8c\u306b\u65e5\u672c\u5186\u304c\u7d19\u5207\u308c\u306b\u306a\u308b\u3053\u3068\u3092\u307e\u3063\u305f\u304f\u7591\u3063\u3066\u3044\u306a\u3044\u3002<\/p>\n\n\n\n<p><strong>\u300c\u5730\u7344\u884c\u304d\u306e\u901a\u8ca8\u300d<\/strong><\/p>\n\n\n\n<p>\u305d\u3057\u3066\u3001\u30d0\u30d5\u30a7\u30c3\u30c8\u6c0f\u306e\u901a\u8ca8\u306b\u5bfe\u3059\u308b\u61f8\u5ff5\u306f\u30c9\u30eb\u306b\u5bfe\u3057\u3066\u3082\u53ca\u3076\u3002\u30d0\u30d5\u30a7\u30c3\u30c8\u6c0f\u306f\u65e5\u672c\u5186\u306b\u3064\u3044\u3066\u5341\u5206\u306b\u8a71\u3057\u305f\u5f8c\u306b\u3001\u6b21\u306e\u3088\u3046\u306b\u7d9a\u3051\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u3082\u3061\u308d\u3093\u5730\u7344\u884c\u304d\u306e\u901a\u8ca8\u5efa\u3066\u306e\u8cc7\u7523\u3092\u4fdd\u6709\u3057\u305f\u3044\u3068\u306f\u601d\u308f\u306a\u3044\u3002\u305d\u3057\u3066\u305d\u308c\u304c\u7c73\u30c9\u30eb\u306b\u5bfe\u3059\u308b\u308f\u308c\u308f\u308c\u306e\u5927\u304d\u306a\u61f8\u5ff5\u3060\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u6b6f\u306b\u8863\u7740\u305b\u306c\u75db\u5feb\u306a\u767a\u8a00\u3067\u306f\u306a\u3044\u304b\u3002\u305d\u3057\u3066\u305d\u308c\u306f\u3001\u30b3\u30ed\u30ca\u5f8c\u306e\u73fe\u91d1\u7d66\u4ed8\u3092\u898b\u3066\u30a4\u30f3\u30d5\u30ec\u306e\u6642\u4ee3\u304c\u6765\u308b\u3068\u8003\u3048\u305f\u30c0\u30ea\u30aa\u6c0f\u3068\u540c\u3058\u76f8\u5834\u89b3\u306b\u57fa\u3065\u3044\u305f\u3082\u306e\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/64313\" data-type=\"post\" data-id=\"64313\">\u30ec\u30a4\u30fb\u30c0\u30ea\u30aa\u6c0f: \u8987\u6a29\u56fd\u5bb6\u306e\u8ca1\u653f\u554f\u984c\u306f\u6226\u4e89\u3068\u30a4\u30f3\u30d5\u30ec\u3092\u5f15\u304d\u8d77\u3053\u3059<\/a><\/li>\n<\/ul>\n\n\n\n<p>\u30d0\u30d5\u30a7\u30c3\u30c8\u6c0f\u306f\u6b21\u306e\u3088\u3046\u306b\u8aac\u660e\u3057\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u30a2\u30e1\u30ea\u30ab\u306e\u8ca1\u653f\u653f\u7b56\u306f\u6050\u308d\u3057\u3044\u3002\u898b\u3066\u306e\u901a\u308a\u3060\u304b\u3089\u3060\u3002\u901a\u8ca8\u306b\u554f\u984c\u304c\u8d77\u3053\u308b\u3088\u3046\u306a\u3053\u3068\u3092\u3057\u3088\u3046\u3068\u3059\u308b\u3042\u3089\u3086\u308b\u9858\u671b\u304c\u898b\u3089\u308c\u308b\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u30b3\u30ed\u30ca\u5f8c\u306e\u91d1\u5229\u4e0a\u6607\u3067\u7c73\u56fd\u50b5\u306b\u306f\u591a\u984d\u306e\u5229\u6255\u3044\u304c\u751f\u3058\u3066\u304a\u308a\u3001\u7c73\u56fd\u653f\u5e9c\u306f\u56fd\u50b5\u306e\u5229\u6255\u3044\u3092\u65b0\u305f\u306a\u56fd\u50b5\u767a\u884c\u3067\u8cc4\u3063\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<p>\u3060\u304c\u65b0\u305f\u306a\u56fd\u50b5\u304c\u65b0\u305f\u306a\u5229\u6255\u3044\u3092\u547c\u3073\u3001\u56fd\u50b5\u767a\u884c\u306f\u306d\u305a\u307f\u7b97\u5f0f\u306b\u5897\u3048\u3066\u3086\u304f\u3002\u50b5\u5238\u5e02\u5834\u306b\u306f\u5927\u91cf\u306e\u7c73\u56fd\u50b5\u304c\u6d41\u308c\u8fbc\u307f\u3001\u7c73\u56fd\u50b5\u304c\u6025\u843d\u3059\u308b\u53ef\u80fd\u6027\u304c\u61f8\u5ff5\u3055\u308c\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<p>4\u6708\u306e\u682a\u5b89\u306e\u6700\u4e2d\u306b\u7c73\u56fd\u50b5\u304c\u6025\u843d\u3057\u305f\u306e\u306f\u3001\u305d\u3046\u3044\u3046\u80cc\u666f\u306e\u4e2d\u3067\u8d77\u3053\u3063\u305f\u3053\u3068\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/63976\" data-type=\"post\" data-id=\"63976\">\u30b5\u30de\u30fc\u30ba\u6c0f: \u4eca\u5f8c\u6570\u30f6\u6708\u3067\u7c73\u56fd\u306f\u30c9\u30eb\u3068\u7c73\u56fd\u682a\u3068\u7c73\u56fd\u50b5\u304c\u3059\u3079\u3066\u4e0b\u843d\u3059\u308b\u767a\u5c55\u9014\u4e0a\u56fd\u578b\u306e\u91d1\u878d\u5371\u6a5f\u306b\u9665\u308b\u53ef\u80fd\u6027<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/63647\" data-type=\"post\" data-id=\"63647\">\u682a\u5f0f\u5e02\u5834\u66b4\u843d\u3001\u30c8\u30e9\u30f3\u30d7\u653f\u6a29\u306f\u3053\u308c\u304b\u3089\u4f55\u5ea6\u3067\u3082\u7c73\u56fd\u50b5\u4e0b\u843d\u306b\u8105\u3055\u308c\u7d9a\u3051\u308b<\/a><\/li>\n<\/ul>\n\n\n\n<p>\u3053\u306e\u7c73\u56fd\u50b5\u306e\u5371\u6a5f\u306f\u3069\u306e\u3088\u3046\u306b\u89e3\u6c7a\u3055\u308c\u308b\u304b\uff1f\u3000\u30c0\u30ea\u30aa\u6c0f\u306e\u300e<a href=\"https:\/\/amzn.to\/3IWcV1T\" target=\"_blank\" rel=\"noreferrer noopener\">\u4e16\u754c\u79e9\u5e8f\u306e\u5909\u5316\u306b\u5bfe\u51e6\u3059\u308b\u305f\u3081\u306e\u539f\u5247<\/a>\u300f\u306b\u306f\u7d50\u8ad6\u304c\u66f8\u304b\u308c\u3066\u3044\u308b\u3002\u4e2d\u592e\u9280\u884c\u304c\u30c9\u30eb\u3092\u5370\u5237\u3057\u3066\u7c73\u56fd\u50b5\u3092\u8cb7\u3044\u652f\u3048\u308b\u3057\u304b\u306a\u3044\u3002<\/p>\n\n\n\n<p>\u305d\u3057\u3066\u30c9\u30eb\u7d19\u5e63\u306e\u4fa1\u5024\u304c\u7d19\u5207\u308c\u306b\u306a\u308b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/64179\" data-type=\"post\" data-id=\"64179\">\u30ec\u30a4\u30fb\u30c0\u30ea\u30aa\u6c0f: \u4e16\u754c\u6050\u614c\u3092\u56de\u907f\u3059\u308b\u552f\u4e00\u306e\u65b9\u6cd5\u306f\u30c9\u30eb\u5b89\u3068\u30a4\u30f3\u30d5\u30ec\u3092\u5f15\u304d\u8d77\u3053\u3059\u7d19\u5e63\u5370\u5237<\/a><\/li>\n<\/ul>\n\n\n\n<p><strong>\u653f\u5e9c\u3068\u901a\u8ca8\u306e\u4fa1\u5024\u4e0b\u843d<\/strong><\/p>\n\n\n\n<p>\u30c0\u30ea\u30aa\u6c0f\u306f\u300e<a href=\"https:\/\/amzn.to\/3IWcV1T\" target=\"_blank\" rel=\"noreferrer noopener\">\u4e16\u754c\u79e9\u5e8f\u306e\u5909\u5316\u306b\u5bfe\u51e6\u3059\u308b\u305f\u3081\u306e\u539f\u5247<\/a>\u300f\u306b\u304a\u3044\u3066\u3001\u30c9\u30eb\u4ee5\u524d\u306b\u57fa\u8ef8\u901a\u8ca8\u3060\u3063\u305f\u5927\u82f1\u5e1d\u56fd\u306e\u30dd\u30f3\u30c9\u306a\u3069\u3082\u542b\u3081\u3001\u6b74\u53f2\u4e0a\u3059\u3079\u3066\u306e\u901a\u8ca8\u306f\u653f\u5e9c\u306b\u3088\u3063\u3066\u4fa1\u5024\u3092\u4e0b\u843d\u3055\u305b\u3089\u308c\u3066\u304d\u305f\u3068\u3044\u3046\u3053\u3068\u3092\u89e3\u8aac\u3057\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<p>\u30b3\u30ed\u30ca\u5f8c\u306b\u305d\u3093\u306a\u672c\u3092\u66f8\u3044\u305f\u306e\u306f\u3001\u30c9\u30eb\u304c\u540c\u3058\u72b6\u6cc1\u306b\u9665\u308b\u3068\u30c0\u30ea\u30aa\u6c0f\u304c\u4e88\u60f3\u3057\u3066\u3044\u308b\u304b\u3089\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u305d\u3057\u3066\u5947\u3057\u304f\u3082\u30d0\u30d5\u30a7\u30c3\u30c8\u6c0f\u306f\u540c\u3058\u3053\u3068\u3092\u8a00\u3063\u3066\u3044\u308b\u3002\u30d0\u30d5\u30a7\u30c3\u30c8\u6c0f\u306f\u6b21\u306e\u3088\u3046\u306b\u8ff0\u3079\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u653f\u5e9c\u304c\u901a\u8ca8\u306e\u4fa1\u5024\u3092\u4e0b\u843d\u3055\u305b\u3088\u3046\u3068\u3059\u308b\u50be\u5411\u306f\u3001\u5236\u5ea6\u306a\u3069\u306b\u3088\u3063\u3066\u9632\u3050\u3053\u3068\u304c\u3067\u304d\u306a\u3044\u3002\u3069\u3093\u306a\u72ec\u88c1\u8005\u3067\u3082\u653f\u6cbb\u5bb6\u3067\u3082\u9023\u308c\u3066\u304f\u308b\u3053\u3068\u306f\u3067\u304d\u308b\u304c\u3001\u7d50\u5c40\u306f\u901a\u8ca8\u3092\u5f31\u3081\u308b\u5727\u529b\u304c\u304b\u304b\u308b\u3002<\/p>\n\n\n\n<p>\u7d4c\u6e08\u5b66\u306a\u308a\u4f55\u306a\u308a\u3092\u5b66\u3093\u3060\u3068\u3053\u308d\u3067\u3001\u8ab0\u304b\u304c\u901a\u8ca8\u306e\u652f\u914d\u6a29\u3092\u63e1\u308c\u3070\u3001\u7d19\u5e63\u3092\u5370\u5237\u3057\u3001\u4f55\u4e16\u7d00\u3082\u524d\u306b\u884c\u308f\u308c\u305f\u3088\u3046\u306b\u901a\u8ca8\u306e\u4fa1\u5024\u3092\u4e0b\u3052\u308b\u3053\u3068\u306b\u306a\u308b\u3002<\/p>\n\n\n\n<p>\u305d\u308c\u304c\u653f\u6cbb\u5bb6\u306e\u672c\u8cea\u3089\u3057\u3044\u3002\u653f\u6cbb\u5bb6\u304c\u90aa\u60aa\u306a\u4eba\u9593\u3060\u3068\u304b\u8a00\u3044\u305f\u3044\u308f\u3051\u3067\u306f\u306a\u3044\u3002\u3060\u304c\u3001\u901a\u8ca8\u3092\u9577\u671f\u7684\u306b\u7121\u4fa1\u5024\u306b\u3059\u308b\u3053\u3068\u304c\u653f\u5e9c\u306b\u3068\u3063\u3066\u81ea\u7136\u306a\u3053\u3068\u3067\u3042\u308b\u3088\u3046\u3060\u3002\u305d\u3057\u3066\u305d\u308c\u306f\u91cd\u5927\u306a\u7d50\u679c\u3092\u3082\u305f\u3089\u3059\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u50b5\u52d9\u306f\u6301\u7d9a\u4e0d\u53ef\u80fd\u3067\u3042\u308b\u3002\u89e3\u6c7a\u7b56\u306f\u3001\u6700\u7d42\u7684\u306b\u306f\u4e2d\u592e\u9280\u884c\u306b\u3088\u308b\u56fd\u50b5\u8cb7\u3044\u5165\u308c\u3057\u304b\u306a\u3044\u3002\u305d\u3057\u3066\u901a\u8ca8\u306f\u5e38\u306b\u72a0\u7272\u306b\u306a\u3063\u3066\u3086\u304f\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/57641\" data-type=\"post\" data-id=\"57641\">\u30df\u30ec\u30a4\u5927\u7d71\u9818\u3001\u30a4\u30f3\u30d5\u30ec\u653f\u7b56\u3092\u6c38\u9060\u306b\u7d9a\u3051\u308b\u3068\u3069\u3046\u306a\u308b\u304b\u3092\u8a9e\u308b<\/a><\/li>\n<\/ul>\n\n\n\n<p>\u5c11\u306a\u304f\u3068\u3082\u3001\u6295\u8cc7\u5bb6\u306f\u305d\u308c\u3092\u4e88\u60f3\u3057\u3066\u8cc7\u7523\u3092\u9003\u304c\u3059\u3053\u3068\u306f\u3067\u304d\u308b\u3002\u3060\u304b\u3089\u7b46\u8005\u306f\u53bb\u5e74\u304b\u3089\u4f55\u5ea6\u3082\u30b4\u30fc\u30eb\u30c9\u306b\u95a2\u3059\u308b\u8a18\u4e8b\u3092\u66f8\u3044\u3066\u304d\u305f\u306e\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/63905\" data-type=\"post\" data-id=\"63905\">\u30d5\u30a9\u30f3\u30fb\u30b0\u30e9\u30a4\u30a2\u30fc\u30c4\u6c0f: \u30c9\u30eb\u304b\u3089\u306e\u8cc7\u91d1\u9003\u907f\u3067\u4e0a\u6607\u3057\u305f\u30b4\u30fc\u30eb\u30c9\u306f\u3082\u3046\u4e8c\u5ea6\u3068\u4e0b\u843d\u3057\u306a\u3044\u3001\u30b7\u30eb\u30d0\u30fc\u306f\u3053\u308c\u304b\u3089\u66b4\u9a30\u3059\u308b<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/63602\" data-type=\"post\" data-id=\"63602\">\u30d5\u30a9\u30f3\u30fb\u30b0\u30e9\u30a4\u30a2\u30fc\u30c4\u6c0f: \u682a\u4fa1\u3068\u56fd\u50b5\u3068\u4e0d\u52d5\u7523\u306f\u66b4\u843d\u3057\u3066\u30b4\u30fc\u30eb\u30c9\u3060\u3051\u304c\u4fa1\u5024\u3092\u4fdd\u3064<\/a><\/li>\n<\/ul>\n\n\n\n<p>\u30c0\u30ea\u30aa\u6c0f\u304c\u300e<a href=\"https:\/\/amzn.to\/3IWcV1T\" target=\"_blank\" rel=\"noreferrer noopener\">\u4e16\u754c\u79e9\u5e8f\u306e\u5909\u5316\u306b\u5bfe\u51e6\u3059\u308b\u305f\u3081\u306e\u539f\u5247<\/a>\u300f\u3067\u89e3\u8aac\u3057\u3066\u3044\u308b\u3088\u3046\u306b\u3001\u901a\u8ca8\u4e0b\u843d\u306f\u9577\u671f\u7684\u306b\u306f\u6b74\u53f2\u7684\u73fe\u8c61\u3067\u3042\u308a\u3001\u305d\u308c\u304c\u4eee\u306b\u5927\u7d71\u9818\u3067\u3042\u3063\u3066\u3082\u3001\u500b\u4eba\u306e\u529b\u3067\u5909\u3048\u308b\u3053\u3068\u306f\u81f3\u96e3\u306e\u696d\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u4e16\u754c\u6700\u9ad8\u306e\u30d0\u30ea\u30e5\u30fc\u6295\u8cc7\u5bb6\u3068\u3057\u3066\u77e5\u3089\u308c\u308b\u30d0\u30d5\u30a7\u30c3\u30c8\u6c0f\u304c\u3001\u30b0\u30ed\u30fc\u30d0\u30eb\u30de\u30af\u30ed\u6226\u7565\u306e\u5927\u5bb6\u3067\u3042\u308b\u30c0\u30ea\u30aa\u6c0f\u3068\u307e\u3063\u305f\u304f\u540c\u3058\u7d50\u8ad6\u306b\u81f3\u3063\u3066\u3044\u308b\u3068\u3044\u3046\u306e\u306f\u3001\u8208\u5473\u6df1\u3044\u3053\u3068\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<a href=\"https:\/\/amzn.to\/3xlpTUc\" target=\"_blank\" rel=\"noreferrer noopener\"><img decoding=\"async\" src=\"https:\/\/m.media-amazon.com\/images\/I\/81CZHKszf9L._SL160_.jpg\"><\/a><br><a href=\"https:\/\/amzn.to\/3xlpTUc\" target=\"_blank\" rel=\"noreferrer noopener\">\u4e16\u754c\u79e9\u5e8f\u306e\u5909\u5316\u306b\u5bfe\u51e6\u3059\u308b\u305f\u3081\u306e\u539f\u5247<\/a>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Berkshire Hathaway\u306e\u30a6\u30a9\u30fc\u30ec\u30f3\u30fb\u30d0\u30d5\u30a7\u30c3\u30c8\u6c0f\u304c\u682a\u4e3b\u7dcf\u4f1a\u3067\u5f15\u9000\u3092\u8868\u660e\u3057\u305f\u3002\u3053\u3053\u3067\u306f\u666e\u6bb5\u306f\u30d0\u30d5\u30a7\u30c3\u30c8\u6c0f\u306e\u767a\u8a00\u306f\u3042\u307e\u308a\u53d6\u308a\u4e0a\u3052\u3066\u3044\u306a\u3044\u306e\u3060\u304c\u3001\u6700\u5f8c\u3068\u3044\u3046\u3053\u3068\u3068\u3001\u91cd\u8981\u306a\u767a\u8a00\u304c\u3042\u3063\u305f\u3053\u3068\u304b\u3089\u3001\u4eca\u56de\u306f\u53d6\u308a\u4e0a\u3052\u3066\u307f\u305f &hellip; <a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/64674\" class=\"more-link\">\u7d9a\u304d\u3092\u8aad\u3080 <span class=\"screen-reader-text\">\u30d0\u30d5\u30a7\u30c3\u30c8\u6c0f: \u65e5\u672c\u5186\u306e\u4e0b\u843d\u306f\u5bb9\u6613\u306b\u4e88\u60f3\u53ef\u80fd\u3001\u30c9\u30eb\u306f\u300c\u5730\u7344\u884c\u304d\u306e\u901a\u8ca8\u300d<\/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":[118,120,19,108],"tags":[207],"class_list":["post-64674","post","type-post","status-publish","format-standard","hentry","category-us-bond-market","category-usdjpy","category-foreign-exchange-market","category-bond-markets","tag-warren-baffett"],"_links":{"self":[{"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/64674","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=64674"}],"version-history":[{"count":80,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/64674\/revisions"}],"predecessor-version":[{"id":64756,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/64674\/revisions\/64756"}],"wp:attachment":[{"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/media?parent=64674"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/categories?post=64674"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/tags?post=64674"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}