{"id":36817,"date":"2023-11-10T20:52:00","date_gmt":"2023-11-10T12:52:00","guid":{"rendered":"https:\/\/damakey.com\/?p=36817"},"modified":"2023-12-03T20:54:10","modified_gmt":"2023-12-03T12:54:10","slug":"a-random-walk-down-wall-street","status":"publish","type":"post","link":"https:\/\/damakey.com\/?p=36817","title":{"rendered":"A random walk down Wall Street"},"content":{"rendered":"\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"664\" height=\"1024\" src=\"https:\/\/damakey.com\/wp-content\/uploads\/2023\/12\/721299956.442463-664x1024.jpeg\" alt=\"\" class=\"wp-image-36818\" srcset=\"https:\/\/damakey.com\/wp-content\/uploads\/2023\/12\/721299956.442463-664x1024.jpeg 664w, https:\/\/damakey.com\/wp-content\/uploads\/2023\/12\/721299956.442463-195x300.jpeg 195w, https:\/\/damakey.com\/wp-content\/uploads\/2023\/12\/721299956.442463-768x1185.jpeg 768w, https:\/\/damakey.com\/wp-content\/uploads\/2023\/12\/721299956.442463-585x902.jpeg 585w, https:\/\/damakey.com\/wp-content\/uploads\/2023\/12\/721299956.442463.jpeg 778w\" sizes=\"(max-width: 664px) 100vw, 664px\" \/><\/figure>\n\n\n\n<p>\u201dThe stock market appears to be an efficient mechanism that adjusts quite quickly to new information.<\/p>\n\n\n\n<p>Neither technical analysis, which analyzes the past price movements of stocks, nor fundamental analysis, which analyzes more basic information about the prospects for individual companies and the economy, seems to yield consistent benefits. It appears that the only way to obtain higher long-run investment returns is to accept greater risks.\u201c<\/p>\n\n\n\n<p>\u80a1\u7968\u5e02\u5834\u4f3c\u4e4e\u6709\u4e00\u500b\u6548\u7387\u7684\u6a5f\u5236\u628a\u8cc7\u8a0a\u5373\u6642\u53cd\u61c9\u5728\u50f9\u683c\u4e0a\u3002<\/p>\n\n\n\n<p>\u6280\u8853\u5206\u6790\uff0c\u5206\u6790\u7684\u662f\u80a1\u50f9\u5728\u904e\u53bb\u7684\u8d70\u52e2\u3002<\/p>\n\n\n\n<p>\u57fa\u672c\u5206\u6790\uff0c\u8457\u91cd\u5728\u5c0d\u500b\u5225\u516c\u53f8\u6216\u7d93\u6fdf\u524d\u666f\u7684\u57fa\u672c\u8cc7\u6599\u3002<\/p>\n\n\n\n<p>\u6280\u8853\u5206\u6790\u548c\u57fa\u672c\u5206\u6790\uff0c\u90fd\u7121\u6cd5\u7522\u751f\u4e00\u81f4\u6027\u7684\u6295\u8cc7\u7372\u5229\u7d50\u679c\u3002<\/p>\n\n\n\n<p>\u4f3c\u4e4e\u5728\u9577\u671f\u7372\u81f4\u66f4\u9ad8\u7684\u6295\u8cc7\u6536\u76ca\uff0c\u552f\u4e00\u7684\u9014\u5f91\u5c31\u53ea\u80fd\u591a\u5192\u4e00\u9ede\u98a8\u96aa\u3002<\/p>\n\n\n\n<p>\u201dUnfortunately, a perfect risk measure does not exist. Beta, the risk measure from the capital-asset pricing model, looks nice on the surface. It is a simple, easy-to-understand measure of market sensitivity. Alas, beta also has its warts. The actual relationship between beta and rate of return has not corresponded to the relationship predicted in theory during long periods of the twentieth century. Moreover, betas for individual stocks are not stable over time, and they are very sensitive to the market proxy against which they are measured.\u201c<\/p>\n\n\n\n<p>\u5f88\u4e0d\u5e78\uff0c\u98a8\u96aa\u4e26\u6c92\u6709\u5b8c\u7f8e\u7684\u8861\u91cf\u65b9\u6cd5\u3002<\/p>\n\n\n\n<p>\u8cc7\u672c\u8ca1\u8a55\u50f9\u6a21\u578b\u7684Beta\u503c\uff0c\u4f3c\u4e4e\u4e0d\u932f\uff0c\u5b83\u662f\u8861\u91cf\u5e02\u5834\u654f\u611f\u5ea6\u5f88\u7c21\u55ae\u6613\u61c2\u7684\u65b9\u6cd5\u3002<\/p>\n\n\n\n<p>\u4f46\u662fBeta\u4e5f\u6709\u5b83\u7684\u7f3a\u9ede\u3002\u5f9e20\u4e16\u7d00\u5dff\u5834\u7684\u9577\u671f\u8868\u73fe\u770b\u4f86\uff0cBeta\u503c\u548c\u5831\u916c\u7387\u7684\u771f\u6b63\u95dc\u4fc2\uff0c\u4e26\u4e0d\u50cf\u8a55\u50f9\u6a21\u578b\u6240\u9810\u4f30\u7684\u90a3\u6a23\u3002<\/p>\n\n\n\n<p>\u66f4\u91cd\u8981\u7684\u662f\uff0c\u500b\u5225\u80a1\u7968\u7684Beta\u503c\u4e26\u4e0d\u7a69\u5b9a\uff0c\u800c\u4e14\u5b83\u7684\u6578\u503c\u5c0d\u8861\u91cf\u7684\u662f\u54ea\u4e9b\u80a1\u7968\u975e\u5e38\u654f\u611f\u3002<\/p>\n\n\n\n<p>\u201dI have argued here that no single measure is likely to capture adequately the variety of systematic risk influences on individual stocks and portfolios. Returns are probably sensitive to general market swings, to changes in interest and inflation rates, to changes in national income, and, undoubtedly, to other economic factors such as exchange rates. Moreover, there is evidence that returns are higher for stocks with lower price-book ratios and smaller size. Other factors such as profitability and momentum also appear to play a role. The mystical perfect risk measure is still beyond our grasp.\u201c<\/p>\n\n\n\n<p>\u6211\u8a8d\u70ba\u6c92\u6709\u4efb\u4f55\u65b9\u5f0f\u53ef\u4ee5\u9069\u5ea6\u8861\u91cf\u500b\u80a1\u6216\u6295\u8cc7\u7d44\u5408\u6240\u5448\u73fe\u7684\u5404\u7a2e\u7cfb\u7d71\u98a8\u96aa\u3002<\/p>\n\n\n\n<p>\u6536\u76ca\u7684\u9ad8\u4f4e\u6216\u8a31\u548c\u7e3d\u9ad4\u7d93\u6fdf\u5e02\u5834\u7684\u52d5\u76ea\u3001\u5229\u7387\u548c\u901a\u8ca8\u81a8\u8139\u7387\u3001\u570b\u6c11\u6240\u5f97\u7684\u6539\u8b8a\uff0c\u7121\u7591\u8207\u5176\u4ed6\u7d93\u6fdf\u56e0\u7d20\u76f8\u95dc\uff0c\u8b6c\u5982\u6ed9\u7387\u3002<\/p>\n\n\n\n<p>\u66f4\u6709\u751a\u8005\uff0c\u6709\u8de1\u8c61\u986f\u793a\u4f4e\u300c\u80a1\u50f9\/\u5e33\u9762\u50f9\u503c\u6bd4\u7387\u300d\u800c\u4e14\u516c\u53f8\u898f\u6a21\u662f\u5c0f\u7684\u80a1\u7968\u6536\u76ca\u6703\u6bd4\u8f03\u9ad8\u3002<\/p>\n\n\n\n<p>\u81f3\u65bc\u5176\u4ed6\u56e0\u7d20\uff0c\u7372\u5229\u80fd\u529b\u548c\u80a1\u7968\u7684\u52d5\u80fd\uff0c\u4f3c\u4e4e\u4e5f\u626e\u6f14\u67d0\u7a2e\u89d2\u8272\u3002<\/p>\n\n\n\n<p>\u50b3\u8aaa\u4e2d\u7684\u5b8c\u7f8e\u98a8\u96aa\u8861\u91cf\uff0c\u76ee\u524d\u6211\u5011\u9084\u6c92\u6709\u3002<\/p>\n\n\n\n<p>How do you go about buying stocks? Basically, there are three ways. I call them the No-Brainer Step, the Do-It-Yourself Step, and the Substitute-Player Step.<\/p>\n\n\n\n<p>\u90a3\u9ebc\uff0c\u600e\u9ebc\u8cb7\u80a1\u7968\u5462\uff1f<\/p>\n\n\n\n<p>\u57fa\u672c\u4e0a\u6709\u4e09\u7a2e\u65b9\u6cd5\uff1a\u4e0d\u50b7\u8166\u7b4b\u7684\u80a1\u7968\u65b9\u6cd5\u3001\u89aa\u529b\u89aa\u70ba\u7684\u80a1\u7968\u6cd5\u3001\u9760\u5c08\u5bb6\u6295\u8cc7\u80a1\u7968\u6cd5\u3002<\/p>\n\n\n\n<p>\u201cIn the first case, you simply buy shares in various broad-based index funds or indexed ETFs designed to track the different classes of stocks that make up your portfolio. This method also has the virtue of being absolutely simple. Even if you have trouble chewing gum while walking randomly, you can master it. The market, in effect, pulls you along with it. For most investors, especially those who prefer an easy, lower-risk solution to investing, I recommend bowing to the wisdom of the market and using domestic and international index funds for the entire investment portfolio. For all investors, however, I recommend that the core of the investment portfolio especially the retirement portion be invested in index funds or ETFs.\u201d<\/p>\n\n\n\n<p>\u7b2c\u4e00\u7a2e\uff0c\u4e0d\u50b7\u8166\u7b4b\u7684\u80a1\u7968\u65b9\u6cd5\uff0c\u5c31\u662f\u53bb\u8cb7\u5145\u5206\u5206\u6563\u5e02\u5834\u7684\u6307\u6578\u57fa\u91d1\u6240\u8cb7\u7684\u80a1\u7968\uff0c\u6216\u8005\u76f4\u63a5\u53bb\u8cb7\u5404\u7a2e\u985e\u7684\u6307\u6578\u80a1\u7968\u578b\u57fa\u91d1(ETF)\uff0c\u4f86\u5f62\u6210\u81ea\u5df1\u8981\u7684\u6295\u8cc7\u7d44\u5408\u3002<\/p>\n\n\n\n<p>\u9019\u500b\u65b9\u6cd5\u6700\u5927\u7684\u597d\u8655\u662f\u6975\u70ba\u7c21\u55ae\uff0c\u5c0d\u80a1\u7968\u5e02\u5834\u518d\u5f04\u4e0d\u660e\u767d\u7684\u4eba\uff0c\u90fd\u53ef\u4ee5\u8f15\u6613\u505a\u5230\u3002\u90a3\u6a23\u505a\uff0c\u5c31\u8ddf\u8457\u5e02\u5834\u7684\u5927\u52e2\u8d70\u4e86\u3002<\/p>\n\n\n\n<p>\u5927\u90e8\u5206\u7684\u6295\u8cc7\u8005\uff0c\u5c24\u5176\u662f\u5e0c\u671b\u63a1\u7528\u65b9\u5f0f\u7c21\u55ae\u3001\u98a8\u96aa\u4f4e\u7684\u6295\u8cc7\u65b9\u6cd5\u8005\uff0c\u6211\u5efa\u8b70\u5927\u5bb6\u81e3\u670d\u5e02\u5834\u7684\u667a\u6167\uff0c\u7528\u570b\u5167\u53ca\u570b\u969b\u6027\u7684\u6307\u6578\u578b\u57fa\u91d1\u4f86\u5145\u5be6\u6574\u500b\u6295\u8cc7\u7d44\u5408\u3002<\/p>\n\n\n\n<p>\u5c0d\u6240\u6709\u7684\u6295\u8cc7\u8005\uff0c\u6211\u5247\u5efa\u8b70\u6838\u5fc3\u7684\u6295\u8cc7\u7d44\u5408\uff0c\u5c24\u5176\u662f\u9000\u4f11\u91d1\u7684\u90e8\u4f4d\uff0c\u8981\u6295\u8cc7\u5728\u6bd4\u8f03\u7a69\u7576\u7684\u6307\u6578\u57fa\u91d1\u6216\u6307\u6578\u80a1\u7968\u578b\u57fa\u91d1(ETF)\u4e0a\u9762\u3002<\/p>\n\n\n\n<p>\u201cUnder the second system, you jog down Wall Street, picking your own stocks and perhaps overweighting certain industries or countries. I recommend that your serious money set aside to provide for a comfortable retirement be invested in a diversified portfolio of index funds. But if you would like to take some extra money you can afford to risk and if you enjoy the game of picking stocks, I&#8217;ve provided a series of rules to help tilt the odds of success a bit more in your favor\u2026\u201d<\/p>\n\n\n\n<p>\u7b2c\u4e8c\u7a2e\uff0c\u89aa\u529b\u89aa\u70ba\u7684\u80a1\u7968\u6cd5\uff0c\u4f60\u81ea\u5df1\u76f4\u63a5\u5230\u80a1\u7968\u5e02\u5834\u4e2d\u9078\u64c7\u81ea\u5df1\u8981\u6295\u8cc7\u7684\u80a1\u7968\u3002<\/p>\n\n\n\n<p>\u53ef\u4ee5\u504f\u5411\u67d0\u4e9b\u7522\u696d\u3001\u570b\u5bb6\u3002<\/p>\n\n\n\n<p>\u6211\u5efa\u8b70\u7576\u4f5c\u9000\u4f11\u7684\u91cd\u8981\u8cc7\u91d1\u8981\u53e6\u5916\u5148\u5206\u958b\u4f86\uff0c\u6295\u8cc7\u5728\u98a8\u96aa\u5206\u6563\u7684\u6295\u8cc7\u7d44\u5408\u6216\u8005\u662f\u6307\u6578\u578b\u57fa\u91d1\u3002<\/p>\n\n\n\n<p>\u5982\u679c\u4f60\u559c\u6b61\u591a\u6295\u8cc7\u4e00\u4e9b\u8cc7\u91d1\u5728\u53ef\u627f\u53d7\u7684\u98a8\u96aa\u500b\u80a1\uff0c\u4eab\u53d7\u9078\u80a1\u7684\u6a02\u8da3\uff0c\u90a3\u9ebc\u6211\u5c07\u63d0\u4f9b\u4e00\u4e9b\u52a9\u4f60\u6210\u529f\u7684\u539f\u5247\u4f9b\u4f60\u53c3\u8003\u3002<\/p>\n\n\n\n<p>\u201cThird, you can sit on a curb and choose a professional investment manager to do the walking down Wall Street for you. Professional advisers can choose the mix of investments best suited for your capacity and willingness to accept risk and ensure that you have the benefits of broad diversification. Unfortunately, most investment advisers are expensive and they often have conflicts of interest. Fortunately, a new breed of low cost advisers is now available. These advisers often use automated technologies to manage diversified portfolios of index funds and they charge rock-bottom fees\u2026.\u201d<\/p>\n\n\n\n<p>\u7b2c\u4e09\u7a2e\uff0c\u9760\u5c08\u5bb6\u6295\u8cc7\u80a1\u7968\u6cd5\u3002<\/p>\n\n\n\n<p>\u7406\u8ca1\u9867\u554f\u6703\u4f9d\u4f60\u7684\u8ca1\u529b\u548c\u627f\u64d4\u98a8\u96aa\u7684\u610f\u9858\uff0c\u4e26\u4fdd\u8b49\u5145\u4efd\u7684\u5206\u6563\u98a8\u96aa\uff0c\u5efa\u8b70\u6700\u9069\u5408\u7684\u6295\u8cc7\u7d44\u5408\u3002\u53ea\u662f\uff0c\u4e00\u822c\u6295\u8cc7\u7406\u8ca1\u7684\u9867\u554f\u8cbb\u7528\u90fd\u5f88\u9ad8\uff0c\u800c\u4e14\u4ed6\u5011\u4e5f\u6703\u6709\u6f5b\u5728\u7684\u5229\u76ca\u885d\u7a81\u3002<\/p>\n\n\n\n<p>\u6240\u5e78\uff0c\u73fe\u5728\u65b0\u4e00\u4ee3\u6709\u6536\u8cbb\u4f4e\u5ec9\u7684\u7406\u8ca1\u9867\u554f\uff0c\u4ed6\u5011\u900f\u904e\u81ea\u52d5\u5316\u79d1\u6280\u7ba1\u7406\u5206\u6563\u98a8\u96aa\u7684\u6307\u6578\u57fa\u91d1\u6295\u8cc7\u7d44\u5408\uff0c\u6536\u8cbb\u5247\u662f\u975e\u5e38\u975e\u5e38\u4f4e\u2026\u2026.<\/p>\n\n\n\n<p>\u201cRule 1: Confine stock purchases to companies that appear able to sustain above-average earnings growth for at least five years.<\/p>\n\n\n\n<p>Rule 2: Never pay more for a stock than can reasonably be justified by a firm foundation of value\u2026Under my rule it is perfectly all right to buy a stock with a P\/E multiple slightly above the market average as long as the company&#8217;s growth prospects are substantially above average\u2026.<\/p>\n\n\n\n<p>Rule 4: Trade as little as possible. \u201c<\/p>\n\n\n\n<p>\u5982\u679c\u8981\u89aa\u529b\u89aa\u70ba\u53bb\u6311\u9078\u80a1\u7968\u505a\u6295\u8cc7\uff0c\u8981\u907f\u958b\u96f7\u5340\uff0c\u6709\u4e09\u9805\u539f\u5247\u8981\u9075\u5b88\uff1a<\/p>\n\n\n\n<p>\u539f\u52471\uff1a\u53ea\u6295\u8cc7\u5728\u6536\u76ca\u6210\u9577\u7387\u5728\u672a\u4f86\u4e94\u5e74\u770b\u8d77\u4f86\u9ad8\u65bc(\u7522\u696d)\u5e73\u5747\u503c\u7684\u80a1\u7968\u3002<\/p>\n\n\n\n<p>\u539f\u52472\uff1a\u4e0d\u8981\u4ed8\u8d85\u904e\u57fa\u672c\u5206\u6790\u6240\u4f30\u7684\u516c\u53f8\u50f9\u503c\u53bb\u8cb7\u5b83\u7684\u80a1\u7968\u3002\u8cb7\u672c\u76ca\u672c(P\/E) \u500d\u6578\u9ad8\u65bc\u5e02\u5834\u5e73\u5747\u503c\uff0c\u800c\u4e14\u8a72\u516c\u53f8\u7684\u6210\u9577\u524d\u666f\u512a\u65bc\u5e02\u5834\u5e73\u5747\u8868\u73fe\u7684\u80a1\u7968\u3002<\/p>\n\n\n\n<p>\u539f\u52473\uff1a\u907f\u514d\u983b\u7e41\u8cb7\u8ce3\u9032\u51fa\u5e02\u5834\u3002<\/p>\n\n\n\n<p>\u2026\u2026<\/p>\n\n\n\n<p>\u201cA random walk down Wall Street\u201d \u9019\u672c\u66f8\uff0c\u5728\u6211\u5538\u7814\u7a76\u6240\u7684\u6642\u5019\uff0c\u6559\u6388\u8b1b\u8ff0\u6295\u8cc7\u5b78\u7684\u6642\u5019\u5c31\u63d0\u5230\u904e\uff0c\u4e3b\u8981\u662f\u8aaa\u5dff\u5834\u662f\u5982\u6b64\u96e3\u4ee5\u6349\u6478\uff0c\u751a\u81f3\u6709\u4eba\u6bd4\u55bb\uff0c\u628a\u80a1\u7968\u540d\u7a31\u653e\u5728\u65cb\u8f49\u5713\u76e4\u4e0a\u8f49\u52d5\uff0c\u7531\ud852\udc23\u5b50\u6295\u64f2\uff0c\u4e2d\u4ec0\u9ebc\u6295\u8cc7\u4ec0\u9ebc\uff0c\u64da\u8aaa\u7372\u5229\u4e0d\u6bd4\u5c08\u5bb6\u7684\u6295\u8cc7\u7d44\u5408\u9084\u5dee\u5462\uff01<\/p>\n\n\n\n<p>\u6295\u8cc7\u7576\u7136\u6709\u98a8\u96aa\uff0c\u4f46\u662f\u4f60\u4e0d\u7406\u8ca1\u8ca1\u4e0d\u7406\u4f60\uff0c\u4e0d\u5192\u98a8\u96aa\u6295\u8cc7\u7576\u7136\u4e5f\u4e0d\u6703\u6709\u7372\u76ca\u3002<\/p>\n\n\n\n<p>\u201cA random walk down Wall Street\u201d \u544a\u8a34\u6211\u5011\u7684\u662f\uff0c\u5e02\u5834\u9ad8\u6df1\u83ab\u6e2c\uff0c\u4f46\u662f\u8981\u907f\u514d\u72af\u4f4e\u7d1a\u7684\u932f\u8aa4\uff0c\u5c31\u4e0d\u8981\u8cb7\u721b\u80a1\u7968\uff0c\u4e0d\u8981\u4ed8\u592a\u9ad8\u7684\u50f9\u683c\u8cb7\u597d\u80a1\u7968\u3002\u5982\u679c\u96e3\u4ee5\u6289\u64c7\uff0c\u4e5f\u4e0d\u8981\u4e0d\u8cb7\u80a1\u7968\uff0c\u81f3\u5c11\u8981\u8cb7\u98a8\u96aa\u5df2\u7d93\u5145\u5206\u5206\u6563\u7684\u6307\u6578\u578b\u57fa\u91d1\uff0c\u90a3\u9ebc\u624d\u80fd\u5206\u4eab\u5e02\u5834\u7684\u7d05\u5229\u3002<\/p>\n\n\n\n<p>*\uff1aBurton G. Malkiel, \u201cA random walk down Wall Street,\u201d 2023, LSC Communications, Harrisonburg<\/p>\n\n\n\n<p>P.S. \u4ec0\u9ebc\u662fBeta\u503c\uff1f<\/p>\n\n\n\n<p>\u90a3\u662f\u8861\u91cf\u500b\u80a1\u6216\u6295\u8cc7\u7d44\u5408\u7684\u80a1\u50f9\uff0c\u76f8\u5c0d\u65bc\u5e02\u5834(\u6307\u6578)\u7684\u6ce2\u52d5\u7a0b\u5ea6\u3002<\/p>\n\n\n\n<p>\u5047\u8a2d\u5e02\u5834\u7684beta \u70ba1\uff0c\u90a3\u9ebc\u67d0\u500b\u80a1\u7684beta\u5982\u679c\u70ba2\uff0c\u90a3\u9ebc\u4ee3\u8868\u5e02\u5834\u6f32\u8dcc10%\uff0c\u8a72\u500b\u80a1\u6f32\u8dcc\u70ba20%\u3002\u5982\u679c\u67d0\u500b\u80a1\u7684beta\u70ba0.5\uff0c\u90a3\u9ebc\u4ee3\u8868\u5e02\u5834\u6f32\u8dcc10%\uff0c\u8a72\u500b\u80a1\u6f32\u8dcc\u70ba5%\u3002<\/p>\n\n\n\n<p>\u6295\u8cc7\u5b78\u7684\u7406\u8ad6\u662f\uff0c\u8f03\u9ad8beta\u4ee3\u8868\u8f03\u9ad8\u7684\u7cfb\u7d71\u98a8\u96aa(\u975e\u7cfb\u7d71\u98a8\u96aa\u53ef\u900f\u904e\u6295\u8cc7\u7d44\u5408\u5206\u6563\u6389)\uff0c\u5fc5\u9808\u7d66\u6295\u8cc7\u8005\u8f03\u9ad8\u5831\u916c\u624d\u6703\u6709\u4eba\u6295\u8cc7\u8f03\u9ad8\u7cfb\u7d71\u98a8\u96aa\u7684\u80a1\u7968\u3002\u9019\u5c31\u662f\u300c\u9ad8\u98a8\u96aa\u9ad8\u5831\u916c\u300d\u7684\u7406\u8ad6\u57fa\u790e\u3002<\/p>\n\n\n\n<p>2023\/11\/10 A random walk down Wall Street Damakey<\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u201dThe stock market appears to b&hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[3],"tags":[],"class_list":["post-36817","post","type-post","status-publish","format-standard","hentry","category-3"],"_links":{"self":[{"href":"https:\/\/damakey.com\/index.php?rest_route=\/wp\/v2\/posts\/36817","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/damakey.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/damakey.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/damakey.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/damakey.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=36817"}],"version-history":[{"count":1,"href":"https:\/\/damakey.com\/index.php?rest_route=\/wp\/v2\/posts\/36817\/revisions"}],"predecessor-version":[{"id":36819,"href":"https:\/\/damakey.com\/index.php?rest_route=\/wp\/v2\/posts\/36817\/revisions\/36819"}],"wp:attachment":[{"href":"https:\/\/damakey.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=36817"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/damakey.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=36817"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/damakey.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=36817"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}