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Openai/69401093-f800-800a-94fc-a5d69db9f764
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===== #### ===== 世界株式・債券・不動産・インフラ・PE/VC等に加え、資源(コモディティ)、希少資産(名車、一点物、歴史的プロダクト等)もこの柱の一部として扱う。 ====== 配当・利息・複利、売却益、分散投資によるリスク調整後リターン。 ====== 希少資産は「情報優位(目利き)」「真正性」「保管」「出口」が収益の本体になる。 ====== 運用規律、情報優位、真正性・来歴の証明、保管・修復、国際売却網、税務・法務。 ====== ====== リスク調整後リターン、流動性(平均売却期間)、保管コスト比率、損失事故率、鑑定トラブル率、保険回収率。 ====== ====== 流動性枯渇、評価の主観性、真贋、保管事故、規制、税務。 ====== 統制は、上限規律、分散、鑑定と証跡の標準化、保険・再保険、出口複線化(複数市場・複数オークション・相対取引)で行う。
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