锟斤拷锟斤拷摘要锟斤拷锟斤拷锟紷锟斤拷锟斤拷锟斤拷锟斤拷私募锟缴欙拷(qu锟斤拷n)投锟結锟斤拷锟斤拷锟结供锟饺現(xi锟斤拷n)锟斤拷锟斤拷锟侥價值锟斤拷锟斤拷锟斤拷锟斤拷指锟斤拷锟斤拷“锟叫囷拷锟斤拷缺锟劫革拷锟叫勶拷(chu锟斤拷ng)锟斤拷锟斤拷锟絉锟侥勶拷(chu锟斤拷ng)锟絀(y锟斤拷)锟斤拷锟斤拷锟斤拷锟斤拷锟叫囷拷缺锟劫碉拷锟斤拷锟斤拷些锟斤拷(j锟斤拷ng)锟斤拷锟絕锟斤拷锟斤拷訓(x锟斤拷n)锟斤拷锟斤拷锟杰夛拷锟斤拷效锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟絃锟斤拷锟斤拷锟届優(y锟斤拷u)锟斤拷锟斤拷锟斤拷g锟皆碉拷锟斤拷I(y锟斤拷)锟斤拷锟斤拷I(y锟斤拷)锟揭★拷”

锟斤拷锟斤拷锟斤拷锟斤拷呕锟斤拷锟�锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟接嬶拷r锟斤拷投锟結锟斤拷锟竭ｏ拷锟斤拷锟斤拷_始锟竭紅锟叫堬拷锟斤拷锟斤拷锟斤拷锟斤拷锟�锟斤拷锟斤拷石锟斤拷锟紽锟斤拷锟斤拷锟斤拷一些全锟斤拷投锟結锟紺锟斤拷(g锟斤拷u)锟斤拷锟较猴拷锟街東锟斤拷锟斤拷要計锟斤拷锟斤拷锟斤拷锟皆硷拷锟斤拷锟斤拷锟斤拷呕锟斤拷锟斤拷锟斤拷锟�锟斤拷锟紷锟絅锟斤拷前一直锟斤拷未锟斤拷锟斤拷锟斤拷玫锟酵讹拷Y锟斤拷锟絯锟杰碉拷越锟斤拷越锟斤拷锟斤拷锟斤拷C锟斤拷(g锟斤拷u)锟侥诧拷目锟斤拷锟斤拷锟斤拷袊锟斤拷袌锟斤拷锟酵讹拷Y锟剿碉拷锟斤拷锟斤拷锟斤拷锟窖斤拷(j锟斤拷ng)變锟斤拷越锟斤拷越锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷

锟斤拷锟斤拷位锟斤拷锟较猴拷锟斤拷投锟結锟斤拷司锟斤拷同锟結锟斤拷锟斤拷DTCapital锟斤拷锟侥合伙拷锟斤拷锟斤拷锟斤拷锟铰ｏ拷JoeTian锟斤拷指锟斤拷锟斤拷“目前锟斤拷锟斤拷(n锟斤拷i)A锟斤拷锟叫堬拷锟轿勢橈拷锟絕锟斤拷锟斤拷锟斤拷锟斤拷锟絖锟斤拷膭锟�(chu锟斤拷ng)锟絀(y锟斤拷)锟斤拷锟斤拷锟斤拷锟斤拷I(y锟斤拷)IPO锟斤拷锟斤拷盈锟绞非筹拷锟斤拷锟斤拷”位锟斤拷锟斤拷锟节碉拷锟叫囷拷锟斤拷(chu锟斤拷ng)锟絀(y锟斤拷)锟斤拷锟斤拷10锟斤拷23锟斤拷锟斤拷式锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷10锟斤拷30锟秸憋拷锟斤拷锟斤拷锟絖始锟斤拷锟斤拷锟斤拷锟紷锟斤拷锟絊锟斤拷锟絃(f锟斤拷ng)锟経投锟結锟斤拷锟斤拷(j锟斤拷ng)锟斤拷十锟斤拷锟斤拷N锟斤拷锟皆达拷锟侥時锟斤拷锟斤拷锟斤拷锟斤拷投锟結锟斤拷锟节囷拷锟斤拷(n锟斤拷i)锟結锟斤拷锟叫堬拷锟斤拷锟剿筹拷锟斤拷锟斤拷锟斤拷锟铰碉拷锟斤拷锟斤拷锟斤拷

锟斤拷锟斤拷同锟絩锟斤拷锟斤拷锟斤拷锟斤拷艃锟斤拷锟皆�锟斤拷值锟斤拷锟紸(y锟斤拷)锟斤拷锟斤拷锟皆硷拷锟叫囷拷锟斤拷锟絝锟斤拷锟脚的斤拷(j锟斤拷ng)锟斤拷锟斤拷锟紽(xi锟斤拷n)锟斤拷锟斤拷锟截讹拷锟斤拷投锟結锟紺锟斤拷(g锟斤拷u)锟紻(zhu锟斤拷n)锟斤拷锟斤拷锟斤拷呕锟斤拷锟斤拷趨锟斤拷锟斤拷锟斤拷貢锟絀锟斤拷锟斤拷锟斤拷全锟斤拷锟皆碉拷投锟結锟紺锟斤拷(g锟斤拷u)锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷希锟斤拷锟斤拷某些锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷同锟絩锟斤拷锟斤拷锟斤拷呕锟斤拷锟斤拷锟斤拷锟絖锟斤拷投锟結锟叫囷拷锟斤拷司锟斤拷锟铰碉拷路锟斤拷锟斤拷使锟斤拷锟斤拷锟杰革拷锟斤拷貐锟斤拷c锟斤拷锟斤拷(n锟斤拷i)锟斤拷I(y锟斤拷)锟侥發(f锟斤拷)展锟皆硷拷锟斤拷锟絴锟斤拷锟斤拷锟斤拷膰锟斤拷锟�(n锟斤拷i)投锟結锟斤拷锟斤拷

锟斤拷锟斤拷锟絆(ji锟斤拷n)锟斤拷規(gu锟斤拷)锟絫锟侥达拷變锟斤拷

锟斤拷锟斤拷锟叫囷拷锟叫堬拷锟斤拷锟斤拷私募锟缴欙拷(qu锟斤拷n)投锟結锟斤拷锟斤拷锟斤拷锟截別锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟铰憋拷示锟斤拷锟斤拷锟叫囷拷锟斤拷(chu锟斤拷ng)锟絀(y锟斤拷)锟斤拷锟斤拷锟叫碉拷28锟斤拷锟斤拷I(y锟斤拷)锟斤拷平锟斤拷锟斤拷锟絖锟斤拷10锟斤拷锟斤拷锟酵讹拷Y锟截堬拷锟斤拷锟斤拷锟紷锟斤拷全锟斤拷锟斤拷锟斤拷锟叫堬拷锟斤拷锟斤拷锟統锟斤拷見锟斤拷锟叫囷拷锟叫堬拷讓锟剿猴拷锟統锟斤拷視锟斤拷锟斤拷锟絘锟斤拷锟絝锟斤拷“锟斤拷锟斤拷锟叫囷拷私募锟缴欙拷(qu锟斤拷n)投锟結锟叫業(y锟斤拷)锟斤拷锟紽(xi锟斤拷n)锟斤拷锟斤拷前10%锟侥癸拷司锟斤拷锟斤拷锟斤拷锟侥回堬拷锟斤拷锟斤拷锟斤拷袌锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟�锟斤拷”

锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟絊锟洁公司锟斤拷锟斤拷锟絉锟斤拷锟斤拷锟斤拷锟斤拷锟紿锟斤拷锟斤拷锟竭�锟絔锟叫岋拷锟揭碉拷锟矫碉拷投锟結锟紺锟斤拷锟斤拷還锟斤拷楹ｏ拷饨伙拷准軜锟�(g锟斤拷u)锟斤拷锟絉锟斤拷锟斤拷锟接囷拷(y锟斤拷n)锟斤拷锟侥監(ji锟斤拷n)锟斤拷锟斤拷锟絕去锟斤拷锟斤拷元锟斤拷锟斤拷锟斤拷锟斤拷锟酵讹拷Y锟节囷拷锟斤拷(n锟斤拷i)锟斤拷I(y锟斤拷)锟节猴拷锟斤拷锟絆(sh锟斤拷)锟斤拷锟侥岋拷锟絯锟斤拷锟斤拷锟斤拷锟叫囷拷锟斤拷2006锟斤拷锟紺锟斤拷锟斤拷锟絇(gu锟斤拷n)锟斤拷锟斤拷锟酵讹拷Y锟竭诧拷購锟斤拷锟斤拷(n锟斤拷i)锟斤拷I(y锟斤拷)锟斤拷锟斤拷規(gu锟斤拷)锟斤拷使锟矫囷拷锟斤拷(n锟斤拷i)锟斤拷I(y锟斤拷)锟絆(sh锟斤拷)锟斤拷锟斤拷锟斤拷軜锟�(g锟斤拷u)锟角筹拷锟斤拷锟統锟斤拷锟紷一投锟結锟斤拷锟斤拷锟斤拷锟斤拷艿锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷

锟斤拷锟斤拷锟紷也锟斤拷锟斤拷锟酵讹拷Y锟紺锟斤拷(g锟斤拷u)越锟斤拷越锟斤拷锟斤拷锟斤拷呕锟斤拷锟斤拷锟斤拷锟斤拷锟皆�锟斤拷之一锟斤拷锟斤拷锟斤拷锟斤拷~斯锟缴庯拷锟叫發(f锟斤拷)锟斤拷锟斤拷一锟斤拷锟絵锟斤拷“锟斤拷锟斤拷呕锟斤拷穑喊l(f锟斤拷)展锟絚趨锟斤拷”锟斤拷锟叫撅拷锟斤拷锟街革拷锟�锟斤拷锟斤拷止2009锟斤拷5锟斤拷锟斤拷锟叫囷拷锟絪锟斤拷400锟斤拷壹锟斤拷锟�(n锟斤拷i)锟結锟斤拷锟斤拷呕锟斤拷锟酵讹拷锟斤拷\锟絀锟斤拷同锟絩锟斤拷锟斤拷锟絕去锟侥冿拷锟斤拷锟斤拷锟斤拷锟斤拷锟結锟斤拷(chu锟斤拷ng)投锟斤拷I(y锟斤拷)锟斤拷锟斤拷锟絈FIVCIE锟斤拷锟侥旓拷(sh锟斤拷)目锟侥傦拷位锟斤拷(sh锟斤拷)锟斤拷锟斤拷40锟斤拷摇锟紽IVCIE锟斤拷一锟絅锟斤拷锟酵讹拷Y锟斤拷锟斤拷呕锟斤拷锟侥凤拷锟斤拷锟斤拷式锟斤拷锟斤拷募锟斤拷锟斤拷锟斤拷目锟揭�(gu锟斤拷)模锟窖斤拷(j锟斤拷ng)锟斤拷锟絕锟斤拷15锟絴锟斤拷元锟斤拷

锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷呕锟斤拷锟皆斤拷l(f锟斤拷)锟紷锟矫紅锟斤拷锟斤拷锟絤然該锟叫業(y锟斤拷)锟侥絕锟襟部凤拷投锟結锟斤拷然锟斤拷锟斤拷锟斤拷锟斤拷呕锟斤拷锟�锟斤拷锟斤拷锟斤拷锟斤拷(j锟斤拷)位锟节憋拷锟斤拷锟斤拷锟絳(di锟斤拷o)锟叫癸拷司锟斤拷苿锟�(chu锟斤拷ng)投锟斤拷Zero2IPO锟斤拷锟斤拷锟結锟较ｏ拷2009锟斤拷诙锟斤拷锟斤拷锟斤拷状纬锟斤拷F(xi锟斤拷n)锟斤拷锟斤拷锟斤拷锟剿侥硷拷蓹锟�(qu锟斤拷n)投锟結锟斤拷锟阶筹拷锟絕锟斤拷锟解公司锟缴欙拷(qu锟斤拷n)投锟結锟斤拷锟阶碉拷锟斤拷r锟斤拷锟斤拷該锟斤拷锟饺碉拷13锟斤拷投锟結锟斤拷锟斤拷锟叫ｏ拷锟斤拷9锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷沤锟斤拷椎锟�锟斤拷锟絚锟斤拷同锟絩锟斤拷锟絚锟斤拷锟铰凤拷锟斤拷锟�锟斤拷锟斤拷锟铰凤拷锟铰筹拷锟斤拷锟斤拷锟斤拷锟斤拷呕锟斤拷锟侥匡拷锟絀锟結目锟斤拷(bi锟斤拷o)锟斤拷锟斤拷私锟斤拷锟斤拷锟�锟斤拷

锟斤拷锟斤拷锟叫囷拷锟斤拷锟斤拷也锟节積锟絆锟狡勶拷锟斤拷锟斤拷呕锟斤拷锟侥發(f锟斤拷)展锟斤拷锟斤拷锟紷锟轿的勶拷锟斤拷锟斤拷锟角侊拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟角侊拷锟斤拷锟节地凤拷锟斤拷锟斤拷锟斤拷锟斤拷锟街筹拷锟斤拷锟饺猴拷锟斤拷_锟斤拷锟竭硷拷锟斤拷投锟結锟竭勶拷(chu锟斤拷ng)锟斤拷锟斤拷锟斤拷呕锟斤拷锟�锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟教勶拷(w锟斤拷)锟斤拷锟斤拷锟紷些锟斤拷锟斤拷锟绞╋拷锟斤拷锟揭伙拷鸦穑�帮拷锟斤拷锟斤拷(zh锟斤拷n)锟斤拷锟酵讹拷Y锟斤拷锟絃(f锟斤拷ng)锟経投锟結锟斤拷锟斤拷臋锟�(qu锟斤拷n)锟斤拷锟铰放給锟斤拷省锟斤拷锟紺锟斤拷(g锟斤拷u)锟斤拷

锟斤拷锟斤拷锟斤拷锟絶斯锟侥堬拷锟街革拷锟�锟斤拷“锟叫囷拷锟斤拷锟斤拷锟絆(ji锟斤拷n)锟杰機锟斤拷(g锟斤拷u)锟侥达拷施锟斤拷锟狡勶拷锟斤拷锟斤拷锟斤拷(n锟斤拷i)锟斤拷锟缴環(hu锟斤拷n)锟斤拷锟斤拷迅锟斤拷锟斤拷锟組锟斤拷锟侥讹拷支锟街發(f锟斤拷)展锟斤拷锟斤拷呕锟斤拷锟�锟斤拷使锟斤拷蔀閷�锟斤拷锟斤拷锟叫囷拷投锟結锟斤拷平锟絖锟斤拷”

锟斤拷锟斤拷锟斤拷锟斤拷呕锟斤拷锟斤拷锟斤拷處

锟斤拷锟斤拷锟斤拷锟斤拷呕锟斤拷锟斤拷c锟斤拷锟斤拷锟侥猴拷锟斤拷軜锟�(g锟斤拷u)投锟結路锟斤拷锟斤拷锟斤拷锟斤拷S锟斤拷锟斤拷(y锟斤拷u)锟捷★拷锟斤拷锟絶斯锟缴庯拷锟叫的合伙拷锟剿勞傦拷斯·锟絖斯锟斤拷锟斤拷LawrenceSussman锟斤拷指锟斤拷锟斤拷锟斤拷锟絕锟紷锟斤拷锟侥區(q锟斤拷)锟絜锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟皆�投锟結锟斤拷锟斤拷锟斤拷锟酵讹拷Y锟斤拷某些锟斤拷r锟铰可猴拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟节憋拷锟斤拷锟斤拷锟斤拷系K锟斤拷锟斤拷锟斤拷投锟結锟斤拷锟斤拷锟斤拷使锟矫囷拷锟斤拷投锟結锟剿獲锟斤拷原锟斤拷只锟叫囷拷锟斤拷(n锟斤拷i)锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷械锟窖革拷锟斤拷袆拥膬锟�(y锟斤拷u)锟捷★拷锟斤拷一锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷呕锟斤拷锟斤拷锟绞癸拷锟酵讹拷Y锟剿匡拷锟皆革拷锟斤拷匕押锟斤拷锟酵讹拷Y锟紻(zhu锟斤拷n)锟斤拷锟斤拷锟斤拷锟斤拷锟�锟斤拷

锟斤拷锟斤拷位锟斤拷锟较猴拷锟斤拷锟秸凱投锟結锟斤拷锟斤拷PraxCapital锟斤拷也锟斤拷一锟揭岋拷注投锟結锟叫囷拷锟斤拷私募锟缴欙拷(qu锟斤拷n)投锟結锟斤拷锟斤拷锟斤拷锟较伙拷锟斤拷锟絊锟阶ｏ拷MichaelXu锟斤拷锟斤拷示锟斤拷“锟斤拷锟斤拷元锟斤拷锟斤拷锟节斤拷锟阶架橈拷(g锟斤拷u)锟絚锟斤拷锟結(ji锟斤拷)锟斤拷锟阶碉拷效锟绞凤拷锟斤拷锟斤拷锟絉锟斤拷锟統锟斤拷锟斤拷某些锟斤拷锟阶結(ji锟斤拷)锟斤拷(g锟斤拷u)锟铰ｏ拷锟斤拷锟斤拷投锟斤拷一些锟斤拷锟斤拷锟�锟斤拷锟紷锟斤拷锟斤拷锟絝锟揭傦拷锟斤拷锟斤拷业锟斤拷锟斤拷锟斤拷锟酵讹拷Y锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷覀锟斤拷锟斤拷约锟斤拷锟斤拷锟斤拷锟脚伙拷锟斤拷锟斤拷锟酵曪拷锟斤拷锟斤拷锟阶撅拷锟叫革拷锟斤拷目锟斤拷茩锟�(qu锟斤拷n)锟斤拷”

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锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷(y锟斤拷u)锟斤拷锟斤拷

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锟斤拷锟斤拷锟铰岋拷锟斤拷r锟斤拷锟斤拷锟絕锟斤拷锟斤拷锟�(sh锟斤拷)锟斤拷锟斤拷呕锟斤拷锟斤拷锟饺伙拷锟斤拷杀锟斤拷锟酵讹拷Y锟紺锟斤拷(g锟斤拷u)锟斤拷锟叫碉拷锟斤拷位锟斤拷锟斤拷锟节碉拷一锟斤拷投锟結锟統锟叫★拷財锟斤拷(w锟斤拷)锟斤拷詢锟斤拷司锟叫囷拷锟阶勶拷(chu锟斤拷ng)投锟結锟斤拷ChinaFirstCapital锟斤拷锟侥讹拷锟斤拷锟絃锟剿碉拷·锟斤拷锟斤拷锟斤拷锟斤拷PeterFuhrman锟斤拷指锟斤拷锟斤拷“锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟剿侥硷拷蓹锟�(qu锟斤拷n)投锟結锟紺锟斤拷(g锟斤拷u)锟杰夛拷锟节斤拷锟节冿拷(n锟斤拷i)募锟斤拷锟斤拷锟斤拷锟斤拷呕锟斤拷稹＜锟绞癸拷跉W锟斤拷锟斤拷锟缴癸拷锟斤拷私募锟缴欙拷(qu锟斤拷n)投锟結锟斤拷要锟斤拷锟窖斤拷(j锟斤拷ng)锟絃锟节猴拷锟斤拷锟斤拷锟斤拷锟睫合伙拷锟斤拷锟斤拷锟斤拷募锟斤拷锟結锟金，匡拷锟斤拷也要锟斤拷锟斤拷锟斤拷锟斤拷臅r锟絞锟斤拷锟斤拷锟叫囷拷锟斤拷锟斤拷锟斤拷投锟結锟斤拷司锟斤拷锟斤拷锟絵锟絇(gu锟斤拷n)系使锟斤拷锟斤拷锟斤拷锟斤拷锟洁當(d锟斤拷ng)锟斤拷锟紷锟侥冿拷(y锟斤拷u)锟捷ｏ拷锟斤拷锟斤拷锟斤拷锟皆岋拷锟揭碉拷锟斤拷锟叫濓拷锟斤拷锟侥憋拷锟斤拷投锟結锟斤拷锟斤拷”

锟斤拷锟斤拷锟侥確锟斤拷锟斤拷锟斤拷锟斤拷也锟絁(r锟斤拷n)锟介精通锟斤拷锟斤拷锟斤拷r锟斤拷锟斤拷锟叫囷拷取锟矫成癸拷锟斤拷锟斤拷锟絇(gu锟斤拷n)锟絀锟斤拷锟斤拷之一锟斤拷“锟斤拷锟絁(r锟斤拷n)锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟叫囷拷锟斤拷锟斤拷锟斤拷悴伙拷锟斤拷锟斤拷袊锟斤拷锟斤拷邔锟斤拷锟揭恢�锟斤拷猓�锟角就曪拷锟角筹拷锟斤拷锟統锟斤拷锟揭傦拷锟侥癸拷锟斤拷F隊讹拷锟斤拷锟叫囷拷锟斤拷锟斤拷锟揭傦拷锟斤拷锟紷锟斤拷锟窖斤拷(j锟斤拷ng)锟斤拷锟洁當(d锟斤拷ng)锟絃锟侥時锟絞锟斤拷锟斤拷锟斤拷锟揭傦拷锟斤拷锟斤拷锟叫囷拷锟斤拷锟斤拷锟斤拷锟紷锟斤拷锟斤拷锟�锟斤拷锟絎(w锟斤拷ng)锟絡(lu锟斤拷)锟斤拷锟斤拷锟斤拷锟絇(gu锟斤拷n)系锟皆硷拷锟斤拷锟斤拷c锟斤拷(d锟斤拷ng)?sh锟斤拷)貏?chu锟斤拷ng)锟絀(y锟斤拷)锟竭滐拷通锟斤拷”

锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟絝锟斤拷未锟斤拷锟斤拷锟斤拷(n锟斤拷i)锟斤拷(d锟斤拷ng)锟斤拷锟酵讹拷Y锟斤拷锟斤拷锟斤拷努锟斤拷锟斤拷(chu锟斤拷ng)锟斤拷锟皆硷拷锟侥伙拷锟斤拷r锟斤拷锟斤拷锟斤拷(n锟斤拷i)锟斤拷投锟結锟斤拷司锟斤拷忙锟斤拷锟絓锟斤拷锟斤拷十锟絴锟斤拷锟斤拷锟斤拷锟斤拷Y锟斤拷锟斤拷“锟叫囷拷锟斤拷司锟斤拷锟斤拷锟睫达拷亩锟斤拷锟揭诧拷S锟角無锟斤拷锟斤拷越锟侥冿拷(y锟斤拷u)锟斤拷锟斤拷”

锟斤拷锟斤拷锟絊锟斤拷锟斤拷锟斤拷C锟斤拷(g锟斤拷u)锟斤拷锟杰岋拷锟节筹拷锟斤拷锟斤拷锟斤拷呕锟斤拷锟斤拷锟饺伙拷锟街�(j锟斤拷n)锟斤拷锟侥態(t锟斤拷i)锟斤拷锟斤拷锟斤拷锟絶斯锟斤拷锟絖斯锟斤拷锟斤拷锟結(ji锟斤拷)锟斤拷锟斤拷“锟节诧拷知锟斤拷锟紷些锟斤拷锟斤拷呕锟斤拷鸸ぞ锟斤拷锟斤拷锟絓锟斤拷锟皆硷拷锟斤拷锟斤拷锟斤拷锟絉锟斤拷锟较礙之前锟斤拷锟斤拷锟斤拷锟斤拷锟絣(f锟斤拷)锟斤拷锟剿诧拷锟斤拷锟絈(m锟斤拷o)然锟斤拷锟铰★拷”

锟斤拷锟斤拷笑锟斤拷锟斤拷锟�

锟斤拷锟斤拷锟斤拷锟斤拷锟紷些锟斤拷锟絖锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷一锟絚锟斤拷锟斤拷锟絖锟斤拷锟斤拷锟斤拷锟叫囷拷锟斤拷锟斤拷I(y锟斤拷)锟揭岋拷锟斤拷私募锟缴欙拷(qu锟斤拷n)投锟結锟斤拷锟叫囷拷锟侥發(f锟斤拷)展锟叫獲锟芥，锟給論锟結锟斤拷锟角侊拷锟皆猴拷锟斤拷還锟角囷拷锟斤拷(n锟斤拷i)锟斤拷锟絤然锟斤拷锟斤拷锟叫囷拷锟斤拷(j锟斤拷ng)锟斤拷锟节筹拷锟絤(x锟斤拷)锟絣(f锟斤拷)展锟皆硷拷锟斤拷锟斤拷(n锟斤拷i)锟統锟叫發(f锟斤拷)锟斤拷锟剿撅拷锟絶锟絁锟斤拷锟斤拷锟叫囷拷锟斤拷锟斤拷缺锟斤拷锟結锟斤拷锟斤拷锟斤拷锟斤拷锟絙锟斤拷锟叫囷拷锟斤拷锟統锟斤拷系锟統(t锟斤拷ng)還锟角非筹拷偏锟斤拷锟斤拷蛧锟斤拷锟斤拷锟絀(y锟斤拷)锟斤拷锟斤拷锟斤拷(n锟斤拷i)锟斤拷锟斤拷小锟斤拷司锟斤拷然锟斤拷锟統锟紷锟斤拷锟絁锟斤拷锟斤拷F(xi锟斤拷n)锟节碉拷希锟斤拷锟斤拷锟紷些锟斤拷(chu锟斤拷ng)锟絀(y锟斤拷)锟竭岋拷锟斤拷锟紷锟矫革拷锟斤拷锟斤拷Y锟斤拷锟斤拷源锟斤拷

锟斤拷锟斤拷锟斤拷锟斤拷呕锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟截岋拷私募锟缴欙拷(qu锟斤拷n)投锟結锟叫業(y锟斤拷)锟斤拷锟叫囷拷锟斤拷規(gu锟斤拷)模锟斤拷锟斤拷锟紻锟教學(xu锟斤拷)院锟斤拷(chu锟斤拷ng)锟絀(y锟斤拷)锟絚锟斤拷锟斤拷W(xu锟斤拷)锟斤拷锟斤拷锟斤拷斐狅拷·锟斤拷锟斤拷锟截ｏ拷RaffiAmit锟斤拷锟絝锟斤拷“锟斤拷锟斤拷呕锟斤拷锟侥达拷锟节岋拷锟截岋拷锟絃(f锟斤拷ng)锟経投锟結锟斤拷锟叫業(y锟斤拷)锟斤拷锟斤拷锟絚锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷2009锟斤拷锟较帮拷锟斤拷臄锟�(sh锟斤拷)锟斤拷(j锟斤拷)锟紷示锟斤拷锟叫囷拷锟斤拷锟絕95%锟斤拷私募锟缴欙拷(qu锟斤拷n)投锟結锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷省锟斤拷锟斤拷未锟斤拷锟紷锟絅锟斤拷r锟斤拷锟杰曪拷锟絣(f锟斤拷)锟斤拷變锟斤拷锟斤拷”锟組一锟斤拷锟侥猴拷锟絰锟角ｏ拷锟斤拷锟斤拷示锟斤拷“锟絃(f锟斤拷ng)锟経锟結锟斤拷锟斤拷锟給锟斤拷锟斤拷锟接岋拷锟斤拷锟叫囷拷锟侥勶拷(chu锟斤拷ng)锟铰產(ch锟斤拷n)锟斤拷锟斤拷锟絟(yu锟斤拷n)锟斤拷影響★拷锟叫囷拷锟侥勶拷(chu锟斤拷ng)锟絀(y锟斤拷)锟斤拷锟絚锟絣(f锟斤拷)锟斤拷锟揭岋拷锟斤拷锟斤拷锟阶獲锟斤拷锟絃(f锟斤拷ng)锟経锟結锟斤拷锟斤拷”

锟斤拷锟斤拷锟斤拷锟紷锟斤拷锟斤拷锟斤拷锟斤拷私募锟缴欙拷(qu锟斤拷n)投锟結锟斤拷锟斤拷锟结供锟饺現(xi锟斤拷n)锟斤拷锟斤拷锟侥價值锟斤拷锟斤拷锟斤拷锟斤拷指锟斤拷锟斤拷“锟叫囷拷锟斤拷缺锟劫革拷锟叫勶拷(chu锟斤拷ng)锟斤拷锟斤拷锟絉锟侥勶拷(chu锟斤拷ng)锟絀(y锟斤拷)锟竭★拷锟斤拷锟斤拷锟叫囷拷缺锟劫碉拷锟斤拷锟斤拷些锟斤拷(j锟斤拷ng)锟斤拷锟絕锟斤拷锟斤拷訓(x锟斤拷n)锟斤拷锟斤拷锟杰夛拷锟斤拷效锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟絃锟斤拷锟斤拷锟届優(y锟斤拷u)锟斤拷锟斤拷锟斤拷g锟皆碉拷锟斤拷I(y锟斤拷)锟斤拷锟斤拷I(y锟斤拷)锟斤拷锟斤拷”

锟斤拷锟斤拷锟紷些锟斤拷锟杰岋拷一些锟斤拷(zh锟斤拷n)锟斤拷锟斤拷锟叫碉拷锟斤拷锟絧锟斤拷司锟斤拷锟絝锟斤拷锟絇(gu锟斤拷n)锟斤拷要锟斤拷锟絊锟斤拷锟絝锟斤拷“锟揭傦拷也锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟叫的滐拷(zh锟斤拷n)锟斤拷——锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟狡癸拷锟巾實锟絗锟斤拷锟斤拷锟斤拷锟斤拷(zh锟斤拷n)锟斤拷锟斤拷財锟斤拷(w锟斤拷)锟斤拷锟絀锟絅锟斤拷锟斤拷锟斤拷锟結源锟絚锟斤拷司锟斤拷锟斤拷锟斤拷锟揭傦拷锟絣(f锟斤拷)锟紽(xi锟斤拷n)锟叫很多公司锟斤拷锟経锟斤拷锟斤拷锟絟(hu锟斤拷n)锟斤拷锟斤拷锟給锟酵員锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟矫诧拷锟斤拷規(gu锟斤拷)锟斤拷锟斤拷锟斤拷要锟斤拷锟斤拷锟斤拷锟斤拷锟酵憋拷锟斤拷锟斤拷@些锟斤拷锟斤拷锟組锟叫革拷锟狡★拷”

锟斤拷锟斤拷目锟斤拷锟叫囷拷锟斤拷(chu锟斤拷ng)锟絀(y锟斤拷)锟藉本锟杰碉拷锟斤拷锟斤拷锟斤拷锟絇锟斤拷锟組志锟斤拷锟叫囷拷锟斤拷(chu锟斤拷ng)锟絀(y锟斤拷)锟竭岋拷希锟斤拷锟斤拷锟斤拷呕锟斤拷锟斤拷锟斤拷锟斤拷U展锟杰給锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷妗�