{"id":10539,"date":"2026-09-19T23:44:43","date_gmt":"2026-09-19T14:44:43","guid":{"rendered":"https:\/\/triumphmind.com\/cma\/2026\/09\/19\/g2-pm-09\/"},"modified":"2026-09-20T10:40:16","modified_gmt":"2026-09-20T01:40:16","slug":"g2-pm-09","status":"publish","type":"post","link":"https:\/\/triumphmind.com\/cma\/2026\/09\/19\/g2-pm-09\/","title":{"rendered":"Black\uff1dLitterman\u30e2\u30c7\u30eb\u3068\u306f\uff1f\u610f\u5473\u3068\u8a66\u9a13\u3067\u554f\u308f\u308c\u308b\u30dd\u30a4\u30f3\u30c8\uff5c\u8a3c\u5238\u30a2\u30ca\u30ea\u30b9\u30c82\u6b21\u30fb\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u30fb\u30de\u30cd\u30b8\u30e1\u30f3\u30c8"},"content":{"rendered":"<style>.cma-tbl{margin:1.2em 0 1.6em;overflow-x:auto;-webkit-overflow-scrolling:touch;border-radius:8px;box-shadow:0 1px 4px rgba(34,0,94,.12);}.cma-tbl table{width:100%;border-collapse:collapse!important;margin:0!important;font-size:15px;line-height:1.6;background:#fff;border:none!important;}.cma-tbl th,.cma-tbl 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class=\"cma-answer-title\">\u3072\u3068\u3053\u3068\u3067\u8a00\u3046\u3068<\/p>\n<ul>\n<li><strong>\u5e73\u5747\u30fb\u5206\u6563\u30a2\u30d7\u30ed\u30fc\u30c1<\/strong>\u306f\u3001\u671f\u5f85\u30ea\u30bf\u30fc\u30f3\u30fb\u30ea\u30b9\u30af\u30fb\u76f8\u95a2\u304b\u3089\u52b9\u7387\u7684\u306a\u8cc7\u7523\u914d\u5206\u3092\u6c42\u3081\u308b\u624b\u6cd5\u3067\u3059\u304c\u3001\u5165\u529b\u5024\u306e\u308f\u305a\u304b\u306a\u8aa4\u5dee\u3067\u914d\u5206\u304c\u5927\u304d\u304f\u5909\u308f\u308a\u3001\u6975\u7aef\u306a\u914d\u5206\u306b\u306a\u308a\u3084\u3059\u3044\u3068\u3044\u3046\u8ab2\u984c\u304c\u3042\u308a\u307e\u3059\u3002<\/li>\n<li><strong>Black\uff1dLitterman\u30e2\u30c7\u30eb<\/strong>\u306f\u3001\u5e02\u5834\u5747\u8861\u304b\u3089\u9006\u7b97\u3057\u305f\u671f\u5f85\u30ea\u30bf\u30fc\u30f3\u3092\u51fa\u767a\u70b9\u306b\u3001\u904b\u7528\u8005\u306e\u898b\u901a\u3057\uff08\u30d3\u30e5\u30fc\uff09\u3092\u78ba\u4fe1\u5ea6\u306b\u5fdc\u3058\u3066\u7e54\u308a\u8fbc\u3080\u3053\u3068\u3067\u914d\u5206\u3092\u5b89\u5b9a\u3055\u305b\u307e\u3059\u3002<\/li>\n<li><strong>\u30ea\u30b5\u30f3\u30d7\u30ea\u30f3\u30b0\u6cd5<\/strong>\u306f\u3001\u5165\u529b\u5024\u3092\u7d71\u8a08\u7684\u306b\u63fa\u3089\u3057\u3066\u4f55\u5ea6\u3082\u6700\u9069\u5316\u3057\u3001\u305d\u306e\u5e73\u5747\u3092\u3068\u308b\u3053\u3068\u3067\u63a8\u5b9a\u8aa4\u5dee\u306e\u5f71\u97ff\u3092\u548c\u3089\u3052\u307e\u3059\u3002<\/li>\n<\/ul>\n<\/div>\n<p>\u3053\u306e\u8a18\u4e8b\u3067\u306f\u3001\u8a3c\u5238\u30a2\u30ca\u30ea\u30b9\u30c82\u6b21\u300c\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u30fb\u30de\u30cd\u30b8\u30e1\u30f3\u30c8\u300d\u306e\u5b66\u7fd2\u30dd\u30a4\u30f3\u30c8\u306e\u3072\u3068\u3064\u300c\u5e73\u5747\u30fb\u5206\u6563\u6cd5\u306e\u8ab2\u984c\u3068\u89e3\u6c7a\u6cd5\u300d\u306b\u3064\u3044\u3066\u3001\u610f\u5473\u3068\u8a66\u9a13\u3067\u554f\u308f\u308c\u3084\u3059\u3044\u30dd\u30a4\u30f3\u30c8\u3092\u89e3\u8aac\u3057\u307e\u3059\u3002<\/p>\n<div class=\"cma-tbl kv\">\n<table>\n<tbody>\n<tr>\n<th>\u5206\u91ce<\/th>\n<td>2\u6b21 \u8a3c\u5238\u5206\u6790\u3068\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u30fb\u30de\u30cd\u30b8\u30e1\u30f3\u30c8\uff0f\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u30fb\u30de\u30cd\u30b8\u30e1\u30f3\u30c8<\/td>\n<\/tr>\n<tr>\n<th>\u5927\u5206\u985e<\/th>\n<td>(2) \u6295\u8cc7\u653f\u7b56\u3068\u30a2\u30bb\u30c3\u30c8\u30fb\u30a2\u30ed\u30b1\u30fc\u30b7\u30e7\u30f3<\/td>\n<\/tr>\n<tr>\n<th>\u5354\u4f1a\u306e\u5b66\u7fd2\u30dd\u30a4\u30f3\u30c8<\/th>\n<td>\u5e73\u5747\u30fb\u5206\u6563\u30a2\u30d7\u30ed\u30fc\u30c1\u306b\u3088\u308b\u30a2\u30bb\u30c3\u30c8\u30fb\u30a2\u30ed\u30b1\u30fc\u30b7\u30e7\u30f3\u624b\u6cd5\u3068\u305d\u306e\u8ab2\u984c\u3084\u89e3\u6c7a\u6cd5\uff08Black\uff1dLitterman\u30e2\u30c7\u30eb\u3084\u30ea\u30b5\u30f3\u30d7\u30ea\u30f3\u30b0\u6cd5\u306a\u3069\uff09\u306b\u3064\u3044\u3066\u7406\u89e3\u3059\u308b\u3002<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<h2>\u5e73\u5747\u30fb\u5206\u6563\u30a2\u30d7\u30ed\u30fc\u30c1\u306e\u8ab2\u984c\u3068\u306f<\/h2>\n<p>\u5e73\u5747\u30fb\u5206\u6563\u30a2\u30d7\u30ed\u30fc\u30c1\u306f\u3001\u30de\u30fc\u30b3\u30a6\u30a3\u30c3\u30c4\u306e\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u7406\u8ad6\u306b\u57fa\u3065\u304d\u3001\u540c\u3058\u30ea\u30b9\u30af\u306a\u3089\u671f\u5f85\u30ea\u30bf\u30fc\u30f3\u304c\u6700\u3082\u9ad8\u3044\uff08\u540c\u3058\u671f\u5f85\u30ea\u30bf\u30fc\u30f3\u306a\u3089\u30ea\u30b9\u30af\u304c\u6700\u3082\u4f4e\u3044\uff09\u8cc7\u7523\u914d\u5206\u3001\u3064\u307e\u308a\u52b9\u7387\u7684\u30d5\u30ed\u30f3\u30c6\u30a3\u30a2\u4e0a\u306e\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u3092\u6c42\u3081\u308b\u624b\u6cd5\u3067\u3059\u3002\u7406\u8ad6\u7684\u306b\u660e\u5feb\u3067\u3001\u8cc7\u7523\u914d\u5206\u306e\u6a19\u6e96\u7684\u306a\u51fa\u767a\u70b9\u306b\u306a\u3063\u3066\u3044\u307e\u3059\u3002<\/p>\n<h3>\u4e3b\u306a\u8ab2\u984c<\/h3>\n<p>\u5b9f\u52d9\u3067\u306f\u3001\u6b21\u306e\u3088\u3046\u306a\u554f\u984c\u304c\u77e5\u3089\u308c\u3066\u3044\u307e\u3059\u3002\u2460<strong>\u5165\u529b\u5024\u3078\u306e\u611f\u5fdc\u5ea6\u304c\u9ad8\u3044<\/strong>\uff1a\u7279\u306b\u671f\u5f85\u30ea\u30bf\u30fc\u30f3\u306e\u898b\u7a4d\u3082\u308a\u3092\u5c11\u3057\u5909\u3048\u308b\u3060\u3051\u3067\u3001\u6700\u9069\u914d\u5206\u304c\u5927\u304d\u304f\u5909\u308f\u308a\u307e\u3059\u3002\u2461<strong>\u6975\u7aef\u306a\u914d\u5206\uff08\u30b3\u30fc\u30ca\u30fc\u89e3\uff09<\/strong>\uff1a\u4e00\u90e8\u306e\u8cc7\u7523\u306b\u96c6\u4e2d\u3057\u3001\u4ed6\u306e\u8cc7\u7523\u304c\u30bc\u30ed\u306b\u306a\u308b\u306a\u3069\u76f4\u611f\u306b\u5408\u308f\u306a\u3044\u7d50\u679c\u304c\u51fa\u3084\u3059\u3044\u3067\u3059\u3002\u2462<strong>\u63a8\u5b9a\u8aa4\u5dee\u306e\u6700\u5927\u5316<\/strong>\uff1a\u6700\u9069\u5316\u306f\u671f\u5f85\u30ea\u30bf\u30fc\u30f3\u3092\u904e\u5927\u8a55\u4fa1\u3057\u305f\u8cc7\u7523\u306b\u591a\u304f\u914d\u5206\u3057\u3001\u904e\u5c0f\u8a55\u4fa1\u3057\u305f\u8cc7\u7523\u3092\u6e1b\u3089\u3059\u305f\u3081\u3001\u63a8\u5b9a\u8aa4\u5dee\u3092\u3080\u3057\u308d\u62e1\u5927\u3057\u3066\u3057\u307e\u3044\u307e\u3059\u3002\u3053\u306e\u305f\u3081\u3001\u6295\u8cc7\u6bd4\u7387\u306e\u4e0a\u9650\u30fb\u4e0b\u9650\u306a\u3069\u306e\u5236\u7d04\u3092\u7f6e\u304f\u65b9\u6cd5\u3082\u4f7f\u308f\u308c\u307e\u3059\u304c\u3001\u5236\u7d04\u304c\u7d50\u679c\u3092\u6c7a\u3081\u3066\u3057\u307e\u3046\u9762\u3082\u3042\u308a\u307e\u3059\u3002<\/p>\n<h3>Black\uff1dLitterman\u30e2\u30c7\u30eb<\/h3>\n<p>Black\uff1dLitterman\u30e2\u30c7\u30eb\u306f\u3001\u307e\u305a\u5e02\u5834\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\uff08\u6642\u4fa1\u7dcf\u984d\u6bd4\u7387\uff09\u304c\u6700\u9069\u3067\u3042\u308b\u3068\u4eee\u5b9a\u3057\u3001\u305d\u3053\u304b\u3089\u9006\u7b97\u3057\u3066\u5404\u8cc7\u7523\u306e<strong>\u5747\u8861\u671f\u5f85\u30ea\u30bf\u30fc\u30f3<\/strong>\u3092\u6c42\u3081\u307e\u3059\uff08\u30ea\u30d0\u30fc\u30b9\u30fb\u30aa\u30d7\u30c6\u30a3\u30de\u30a4\u30bc\u30fc\u30b7\u30e7\u30f3\uff09\u3002\u6b21\u306b\u3001\u904b\u7528\u8005\u306e\u898b\u901a\u3057\uff08\u300c\u682a\u5f0f\u304c\u50b5\u5238\u30922\uff05\u4e0a\u56de\u308b\u300d\u306a\u3069\uff09\u3068\u305d\u306e\u78ba\u4fe1\u5ea6\u3092\u52a0\u3048\u3001\u4e21\u8005\u3092\u7d71\u8a08\u7684\u306b\u7d44\u307f\u5408\u308f\u305b\u3066\u671f\u5f85\u30ea\u30bf\u30fc\u30f3\u3092\u4fee\u6b63\u3057\u307e\u3059\u3002\u30d3\u30e5\u30fc\u304c\u306a\u3051\u308c\u3070\u5e02\u5834\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u306b\u4e00\u81f4\u3057\u3001\u78ba\u4fe1\u5ea6\u304c\u9ad8\u3044\u30d3\u30e5\u30fc\u307b\u3069\u914d\u5206\u306b\u5f37\u304f\u53cd\u6620\u3055\u308c\u307e\u3059\u3002\u6975\u7aef\u306a\u914d\u5206\u306b\u306a\u308a\u306b\u304f\u304f\u3001\u76f4\u611f\u7684\u306b\u7406\u89e3\u3057\u3084\u3059\u3044\u7d50\u679c\u304c\u5f97\u3089\u308c\u308b\u306e\u304c\u9577\u6240\u3067\u3059\u3002<\/p>\n<h3>\u30ea\u30b5\u30f3\u30d7\u30ea\u30f3\u30b0\u6cd5<\/h3>\n<p>\u30ea\u30b5\u30f3\u30d7\u30ea\u30f3\u30b0\u6cd5\u306f\u3001\u63a8\u5b9a\u3057\u305f\u671f\u5f85\u30ea\u30bf\u30fc\u30f3\u3084\u5171\u5206\u6563\u3092\u524d\u63d0\u306b\u3001\u4e71\u6570\u3067\u591a\u6570\u306e\u300c\u3042\u308a\u3046\u308b\u5165\u529b\u5024\u300d\u3092\u4f5c\u308a\u3001\u305d\u308c\u305e\u308c\u3067\u6700\u9069\u5316\u3092\u884c\u3063\u3066\u3001\u5f97\u3089\u308c\u305f\u914d\u5206\u3092\u5e73\u5747\u3059\u308b\u65b9\u6cd5\u3067\u3059\u3002\u63a8\u5b9a\u8aa4\u5dee\u3092\u8003\u616e\u3057\u305f\u3001\u306a\u3081\u3089\u304b\u3067\u5206\u6563\u306e\u52b9\u3044\u305f\u914d\u5206\u306b\u306a\u308a\u307e\u3059\u3002\u4e00\u65b9\u3001\u7406\u8ad6\u7684\u306a\u6839\u62e0\u3084\u8a08\u7b97\u306e\u8ca0\u62c5\u306b\u3064\u3044\u3066\u306e\u8b70\u8ad6\u3082\u3042\u308a\u307e\u3059\u3002<\/p>\n<h2>\u62bc\u3055\u3048\u3066\u304a\u304d\u305f\u3044\u516c\u5f0f<\/h2>\n<div class=\"cma-formula\">\u03a0 \uff1d \u03bb \u00d7 \u03a3 \u00d7 w<sub>mkt<\/sub><small>\u5747\u8861\u671f\u5f85\u8d85\u904e\u30ea\u30bf\u30fc\u30f3\uff08\u30ea\u30d0\u30fc\u30b9\u30fb\u30aa\u30d7\u30c6\u30a3\u30de\u30a4\u30bc\u30fc\u30b7\u30e7\u30f3\uff09<\/small><\/div>\n<div class=\"cma-formula\">\u03bb \uff1d (E&#91;R<sub>M<\/sub>] \u2212 R<sub>f<\/sub>) \u00f7 \u03c3<sub>M<\/sub><sup>2<\/sup><small>\u30ea\u30b9\u30af\u56de\u907f\u4fc2\u6570\uff08\u5e02\u5834\u306e\u8d85\u904e\u30ea\u30bf\u30fc\u30f3\u3068\u5206\u6563\u304b\u3089\u6c42\u3081\u308b\uff09<\/small><\/div>\n<div class=\"cma-tbl kv\">\n<table>\n<tbody>\n<tr>\n<th>\u8a18\u53f7<\/th>\n<th>\u610f\u5473<\/th>\n<\/tr>\n<tr>\n<td>\u03a0<\/td>\n<td>\u5404\u8cc7\u7523\u306e\u5747\u8861\u671f\u5f85\u8d85\u904e\u30ea\u30bf\u30fc\u30f3<\/td>\n<\/tr>\n<tr>\n<td>\u03a3<\/td>\n<td>\u8cc7\u7523\u30ea\u30bf\u30fc\u30f3\u306e\u5171\u5206\u6563\u884c\u5217<\/td>\n<\/tr>\n<tr>\n<td>w<sub>mkt<\/sub><\/td>\n<td>\u5e02\u5834\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u306e\u6642\u4fa1\u7dcf\u984d\u6bd4\u7387<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<h2>\u5177\u4f53\u4f8b\u3067\u78ba\u8a8d<\/h2>\n<p>\u682a\u5f0f\uff08\u6a19\u6e96\u504f\u5dee18\uff05\uff09\u3068\u50b5\u5238\uff08\u6a19\u6e96\u504f\u5dee5\uff05\uff09\u306e2\u8cc7\u7523\u3001\u76f8\u95a20.2\u3001\u5e02\u5834\u306e\u6642\u4fa1\u7dcf\u984d\u6bd4\u7387\u3092\u682a\u5f0f60\uff05\u30fb\u50b5\u523840\uff05\u3001\u30ea\u30b9\u30af\u56de\u907f\u4fc2\u6570 \u03bb \uff1d 2.5 \u3068\u3057\u307e\u3059\u3002<\/p>\n<ul>\n<li>\u682a\u5f0f\u3068\u50b5\u5238\u306e\u5171\u5206\u6563\uff1a0.2 \u00d7 0.18 \u00d7 0.05 \uff1d 0.0018<\/li>\n<li><strong>\u682a\u5f0f<\/strong>\uff1a\u03a3w \uff1d 0.6 \u00d7 0.0324 \uff0b 0.4 \u00d7 0.0018 \uff1d 0.02016 \u2192 \u03a0 \uff1d 2.5 \u00d7 0.02016 \u2252 <strong>5.04\uff05<\/strong><\/li>\n<li><strong>\u50b5\u5238<\/strong>\uff1a\u03a3w \uff1d 0.6 \u00d7 0.0018 \uff0b 0.4 \u00d7 0.0025 \uff1d 0.00208 \u2192 \u03a0 \uff1d 2.5 \u00d7 0.00208 \uff1d <strong>0.52\uff05<\/strong><\/li>\n<\/ul>\n<p>\u3053\u308c\u3089\u304c\u300c\u5e02\u5834\u304c\u682a\u5f0f60\uff05\u30fb\u50b5\u523840\uff05\u3092\u4fdd\u6709\u3057\u3066\u3044\u308b\u3053\u3068\u3068\u6574\u5408\u7684\u306a\u300d\u671f\u5f85\u8d85\u904e\u30ea\u30bf\u30fc\u30f3\u3067\u3059\u3002\u3053\u3053\u306b\u300c\u682a\u5f0f\u306e\u671f\u5f85\u8d85\u904e\u30ea\u30bf\u30fc\u30f3\u306f6\uff05\u300d\u3068\u3044\u3063\u305f\u30d3\u30e5\u30fc\u3092\u78ba\u4fe1\u5ea6\u3068\u3068\u3082\u306b\u52a0\u3048\u308b\u3068\u3001\u682a\u5f0f\u306e\u671f\u5f85\u30ea\u30bf\u30fc\u30f3\u304c5.04\uff05\u30686\uff05\u306e\u9593\u306b\u4fee\u6b63\u3055\u308c\u3001\u682a\u5f0f\u6bd4\u7387\u304c60\uff05\u304b\u3089\u306a\u3060\u3089\u304b\u306b\u5897\u3048\u308b\u914d\u5206\u304c\u5f97\u3089\u308c\u307e\u3059\u3002<\/p>\n<div class=\"cma-exam\">\n<p class=\"cma-exam-title\">\u8a66\u9a13\u3067\u554f\u308f\u308c\u3084\u3059\u3044\u30dd\u30a4\u30f3\u30c8<\/p>\n<ul>\n<li>\u5e73\u5747\u30fb\u5206\u6563\u6700\u9069\u5316\u306e\u8ab2\u984c\uff08\u5165\u529b\u3078\u306e\u611f\u5fdc\u5ea6\u3001\u30b3\u30fc\u30ca\u30fc\u89e3\u3001\u63a8\u5b9a\u8aa4\u5dee\u306e\u6700\u5927\u5316\uff09\u3092\u5177\u4f53\u7684\u306b\u8aac\u660e\u3067\u304d\u308b\u3088\u3046\u306b\u3057\u307e\u3057\u3087\u3046\u3002<\/li>\n<li>Black\uff1dLitterman\u30e2\u30c7\u30eb\u306e\u624b\u9806\uff08\u5747\u8861\u30ea\u30bf\u30fc\u30f3\u306e\u9006\u7b97 \u2192 \u30d3\u30e5\u30fc\u3068\u78ba\u4fe1\u5ea6\u306e\u53cd\u6620\uff09\u3068\u3001\u30d3\u30e5\u30fc\u304c\u306a\u3044\u5834\u5408\u306f\u5e02\u5834\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u306b\u306a\u308b\u70b9\u304c\u554f\u308f\u308c\u3084\u3059\u3044\u3067\u3059\u3002<\/li>\n<li>\u03a0 \uff1d \u03bb\u03a3w 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class=\"cma-link-box\">\n<p class=\"cma-link-box-title\">\u25b6 \u3042\u308f\u305b\u3066\u8aad\u307f\u305f\u3044<\/p>\n<p><a href=\"https:\/\/triumphmind.com\/cma\/2026\/09\/19\/cma2-portfolio\/\">\u3010\u8a3c\u5238\u30a2\u30ca\u30ea\u30b9\u30c82\u6b21\u3011\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u30fb\u30de\u30cd\u30b8\u30e1\u30f3\u30c8\u3067\u5b66\u3076\u5185\u5bb9\u306e\u4e00\u89a7\u306b\u623b\u308b<\/a><\/p>\n<p><a href=\"https:\/\/triumphmind.com\/cma\/2026\/09\/19\/g2-pm-11\/\">\u30ea\u30b9\u30af\u30fb\u30d1\u30ea\u30c6\u30a3<\/a><\/p>\n<p><a href=\"https:\/\/triumphmind.com\/cma\/2026\/09\/19\/g2-pm-04\/\">\u8cc7\u7523\u30af\u30e9\u30b9\u306e\u30ea\u30b9\u30af\u30fb\u30ea\u30bf\u30fc\u30f3\u7279\u6027<\/a><\/p>\n<p><a href=\"https:\/\/triumphmind.com\/cma\/2026\/09\/19\/g2-pm-07\/\">\u30e2\u30f3\u30c6\u30ab\u30eb\u30ed\u30fb\u30b7\u30df\u30e5\u30ec\u30fc\u30b7\u30e7\u30f3<\/a><\/p>\n<\/div>\n<p>\u8a3c\u5238\u30a2\u30ca\u30ea\u30b9\u30c8\u30a2\u30ab\u30c7\u30df\u30fc\u306eYouTube\uff08<a href=\"https:\/\/www.youtube.com\/@cma-fa-academy\" target=\"_blank\" rel=\"noopener\">@cma-fa-academy<\/a>\uff09\u3067\u306f\u3001\u5b66\u7fd2\u30dd\u30a4\u30f3\u30c8\u306b\u6cbf\u3063\u3066\u8ad6\u70b9\u30921\u3064\u305a\u3064\u89e3\u8aac\u3057\u3066\u3044\u307e\u3059\u3002<\/p>\n<p><a href=\"https:\/\/utage-system.com\/page\/98Nqc5o0yBvT\" target=\"_blank\" rel=\"noopener\">\u25b6 \u8a3c\u5238\u30a2\u30ca\u30ea\u30b9\u30c8\u30b3\u30df\u30e5\u30cb\u30c6\u30a3\u30fc\u306b\u53c2\u52a0\u3059\u308b<\/a><\/p>\n<p style=\"font-size:0.85em;\">\u203b\u5b66\u7fd2\u30dd\u30a4\u30f3\u30c8\u306f\u65e5\u672c\u8a3c\u5238\u30a2\u30ca\u30ea\u30b9\u30c8\u5354\u4f1a\u300c\u30102026\u5e74\u5ea6\u3011CMA\u8cc7\u683c\u306e\u53d6\u5f97\u306b\u6c42\u3081\u3089\u308c\u308b\u4e3b\u8981\u5b66\u7fd2\u4e8b\u9805\u3068\u5b66\u7fd2\u30dd\u30a4\u30f3\u30c8\u300d\u3088\u308a\u5f15\u7528\u3057\u3066\u3044\u307e\u3059\u3002<\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u5e73\u5747\u30fb\u5206\u6563\u30a2\u30d7\u30ed\u30fc\u30c1\u306b\u3088\u308b\u8cc7\u7523\u914d\u5206\u306e\u8ab2\u984c\uff08\u5165\u529b\u5024\u3078\u306e\u611f\u5fdc\u5ea6\u3001\u6975\u7aef\u306a\u914d\u5206\u3001\u63a8\u5b9a\u8aa4\u5dee\uff09\u3068\u3001\u89e3\u6c7a\u6cd5\u3068\u3057\u3066\u306eBlack\uff1dLitterman\u30e2\u30c7\u30eb\u3084\u30ea\u30b5\u30f3\u30d7\u30ea\u30f3\u30b0\u6cd5\u3092\u89e3\u8aac\u3002\u5747\u8861\u671f\u5f85\u30ea\u30bf\u30fc\u30f3\u306e\u8a08\u7b97\u4f8b\u30682\u6b21\u8a66\u9a13\u306e\u8981\u70b9\u3082\u6574\u7406\u3057\u307e\u3059\u3002<\/p>\n","protected":false},"author":1,"featured_media":10538,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jin_ogp_image_url":"","_jin_last_featured_id":0,"footnotes":""},"categories":[22],"tags":[],"class_list":["post-10539","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-glossary"],"_links":{"self":[{"href":"https:\/\/triumphmind.com\/cma\/wp-json\/wp\/v2\/posts\/10539","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/triumphmind.com\/cma\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/triumphmind.com\/cma\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/triumphmind.com\/cma\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/triumphmind.com\/cma\/wp-json\/wp\/v2\/comments?post=10539"}],"version-history":[{"count":2,"href":"https:\/\/triumphmind.com\/cma\/wp-json\/wp\/v2\/posts\/10539\/revisions"}],"predecessor-version":[{"id":11881,"href":"https:\/\/triumphmind.com\/cma\/wp-json\/wp\/v2\/posts\/10539\/revisions\/11881"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/triumphmind.com\/cma\/wp-json\/wp\/v2\/media\/10538"}],"wp:attachment":[{"href":"https:\/\/triumphmind.com\/cma\/wp-json\/wp\/v2\/media?parent=10539"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/triumphmind.com\/cma\/wp-json\/wp\/v2\/categories?post=10539"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/triumphmind.com\/cma\/wp-json\/wp\/v2\/tags?post=10539"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}