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Charles De Valux (International Vaule Advisers\u793e)\u3068\u3044\u3046\u65b9\u304c\u305d\u306e\u69d8\u306b\u5fdc\u3048\u3066\u3044\u3066\u9a5a\u304d\u307e\u3057\u305f\u3002\u30a4\u30f3\u30bf\u30d3\u30e5\u30fc\u30a2\u30fc\u3082\u300c\u4f55\u6545\u65e5\u672c\uff1f\u30a2\u30e1\u30ea\u30ab\u3067\u306f\u306a\u3044\u306e\uff1f\u300d\u898b\u305f\u3044\u306a\u8cea\u554f\u3092\u3059\u308b\u3068\u5f7c\u306f\u300c\u65e5\u672c\u306e\u682a\u5f0f\u5e02\u5834\u306f40%\u4ee5\u4e0a\u4e0b\u843d\u3057\u3066\u3044\u308b\u3057\u3001PBR\u3082\u4e00\u500d\u5272\u308c\u3057\u3066\u3044\u308b\u7a0b\u5272\u5b89\u3067\u3042\u308b\u3057\u3001\u904e\u53bb19\u5e74\u306b\u308f\u305f\u3063\u305f\u5f31\u6c17\u76f8\u5834\u306e\u5f8c\u3067\u30ed\u30fc\u30ab\u30eb\uff08\u65e5\u672c\u306e\u6295\u8cc7\u5bb6\uff09\u3082\u623b\u3063\u3066\u6765\u3066\u3044\u308b\u300d\u3068\u306e\u7406\u7531\u3067\u65e5\u672c\u3078\u306e\u6295\u8cc7\u3092\u6b63\u5f53\u5316\u3057\u305f\u306e\u3067\u3057\u305f\u3002<\/p>\n
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