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?? ??? ????? ??? ?????? 4???(? 4522??)?? ??? ??? ????? 5?(????) ?? ??????? ????.
‘????’(Paradigm)??? ??? ? ??? ?? ???? ?? ???? ‘?????’(Coinbase)? ?? ??? ??? ???? ‘???? ???’ ?? ?? ?, ‘??? ???’? ??? ?? ????? ?? ???? ?? ?? ??? ????.
? ??? ??? ???? ??? ???? ???? ? ?? ????? ??? ?? ????? ?? ??? ????.
??????? ? ???? ??? “??? ?? ???? ? ? ??? ?? ???? 300???(? 33?9150??)? ?? ???? ??? ??? ????”? “???? ??? ??? ? ??”? ????.
?????? 1985??? ???? ???(David Swensen)? ?? ???????(Chief Investment Officer)? ??? ? ??? 13.9%? ???? ?????. ???? 2019? ???? ???? ???? ??? 60%? ?????, ?? ??, ????(Leveraged Buy out) ?? ??? ??? ????. ?? ???? ?? ??? ? ???? ???? ????.
?? 2? ?? ??? ??? NEPC? ????? ???, ?? ? ?? ????? ??? 96%? “??? ?? ??? ???? ?? ?”??? ????. ??? ???? ??? ‘????’? ???? ? ?? ??? ???? ???, ????? ????? ???? ???? ??? ?? ?? ? ???? ????? ??? ?? ??? ????.
?????? ?? 8? ????? ??? ??? ??? ? ??. ????? ??? ????? ‘????’, ‘????’, ‘??’? ?? ?? ????? ?? ??? ???? ??-??? ??(Risk-return tradeoff)? ????. ???? “???? ??? ??? ? ??”???? “???? ??? ???? ??? ??? ??? ??? ???”? ?? ? ??.
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