{"id":46905,"date":"2025-09-04T15:55:48","date_gmt":"2025-09-04T08:55:48","guid":{"rendered":"https:\/\/hbbgroup.net\/chien-luoc-dau-tu-gia-tri-dang-hoi-sinh\/"},"modified":"2025-09-04T15:55:48","modified_gmt":"2025-09-04T08:55:48","slug":"chien-luoc-dau-tu-gia-tri-dang-hoi-sinh","status":"publish","type":"post","link":"https:\/\/hbbgroup.net\/vi\/chien-luoc-dau-tu-gia-tri-dang-hoi-sinh\/","title":{"rendered":"Chi\u1ebfn l\u01b0\u1ee3c \u0111\u1ea7u t\u01b0 gi\u00e1 tr\u1ecb \u0111ang \u201ch\u1ed3i sinh\u201d"},"content":{"rendered":"
\n

Chi\u1ebfn l\u01b0\u1ee3c \u0111\u1ea7u t\u01b0 gi\u00e1 tr\u1ecb \u0111ang \u201ch\u1ed3i sinh\u201d<\/p>\n

Warren Buffett, nh\u00e0 \u0111\u1ea7u t\u01b0 v\u0129 \u0111\u1ea1i nh\u1ea5t m\u1ecdi th\u1eddi \u0111\u1ea1i, v\u1eeba tuy\u00ean b\u1ed1 ngh\u1ec9 h\u01b0u. \u0110i\u1ec1u n\u00e0y \u0111\u00e3 g\u00e2y s\u1ed1c cho c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 gi\u00e1 tr\u1ecb kh\u00e1c. Th\u1eadt kh\u00f4ng may, h\u1ecd ph\u1ea3i c\u00e2n nh\u1eafc nh\u1eefng v\u1ea5n \u0111\u1ec1 nghi\u00eam tr\u1ecdng h\u01a1n. Trong nhi\u1ec1u n\u0103m, phong c\u00e1ch \u0111\u1ea7u t\u01b0 \u01b0a th\u00edch c\u1ee7a h\u1ecd \u0111\u00e3 l\u1ed7i th\u1eddi. Kh\u00e1ch h\u00e0ng c\u1ee7a h\u1ecd m\u1ea5t d\u1ea7n ki\u00ean nh\u1eabn. Trong m\u1ed9t th\u1ebf gi\u1edbi m\u00e0 ch\u1ec9 s\u1ed1 th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n M\u1ef9 li\u00ean t\u1ee5c mang l\u1ea1i l\u1ee3i nhu\u1eadn v\u01b0\u1ee3t tr\u1ed9i, c\u00e1c qu\u1ef9 th\u1ee5 \u0111\u1ed9ng c\u00f3 chi ph\u00ed th\u1ea5p d\u01b0\u1eddng nh\u01b0 l\u00e0 k\u00eanh \u0111\u1ea7u t\u01b0 h\u1ee3p l\u00fd. <\/p>\n

Tuy nhi\u00ean, tri\u1ec3n v\u1ecdng cho c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 gi\u00e1 tr\u1ecb l\u1ea1i lu\u00f4n t\u01b0\u01a1i s\u00e1ng nh\u1ea5t khi ph\u1ea7n c\u00f2n l\u1ea1i c\u1ee7a th\u1ebf gi\u1edbi m\u1ea5t ni\u1ec1m tin. V\u1ec1 l\u00e2u d\u00e0i, vi\u1ec7c mua c\u1ed5 phi\u1ebfu \u1edf \u0111\u1ecbnh gi\u00e1 r\u1ebb v\u1eabn mang l\u1ea1i hi\u1ec7u qu\u1ea3 t\u1ed1t. <\/p>\n

C\u00e1c nh\u00e0 kinh t\u1ebf h\u1ecdc, g\u1ed3m Eugene Fama v\u00e0 Ken French, \u0111\u1ecbnh ngh\u0129a m\u1ed9t c\u1ed5 phi\u1ebfu gi\u00e1 tr\u1ecb l\u00e0 t\u1ef7 l\u1ec7 gi\u00e1 c\u1ed5 phi\u1ebfu tr\u00ean gi\u00e1 tr\u1ecb s\u1ed5 s\u00e1ch th\u1ea5p. N\u1ebfu s\u1eed d\u1ee5ng bi\u1ec7n ph\u00e1p n\u00e0y, c\u1ed5 phi\u1ebfu gi\u00e1 tr\u1ecb c\u1ee7a M\u1ef9 \u0111\u00e3 \u0111\u00e1nh b\u1ea1i c\u1ed5 phi\u1ebfu t\u0103ng tr\u01b0\u1edfng, v\u1edbi t\u1ef7 l\u1ec7 gi\u00e1 tr\u00ean s\u1ed5 s\u00e1ch cao, t\u1ee9c 2.5% m\u1ed7i n\u0103m k\u1ec3 t\u1eeb n\u0103m 1926. C\u1ed5 phi\u1ebfu gi\u00e1 tr\u1ecb c\u0169ng ho\u1ea1t \u0111\u1ed9ng v\u01b0\u1ee3t tr\u1ed9i h\u01a1n \u1edf h\u1ea7u h\u1ebft th\u1ecb tr\u01b0\u1eddng n\u01b0\u1edbc ngo\u00e0i kh\u00e1c, theo cu\u1ed1n Ni\u00ean gi\u00e1m l\u1ee3i nhu\u1eadn \u0111\u1ea7u t\u01b0 to\u00e0n c\u1ea7u c\u1ee7a UBS. <\/p>\n

Tuy nhi\u00ean, \u201ccu\u1ed9c vui\u201d \u1ea5y \u0111\u00e3 k\u1ebft th\u00fac v\u00e0o \u0111\u00eam tr\u01b0\u1edbc cu\u1ed9c kh\u1ee7ng ho\u1ea3ng t\u00e0i ch\u00ednh to\u00e0n c\u1ea7u. Trong kho\u1ea3ng th\u1eddi gian t\u1eeb n\u0103m 2007 \u0111\u1ebfn 2020, c\u1ed5 phi\u1ebfu t\u0103ng tr\u01b0\u1edfng ho\u1ea1t \u0111\u1ed9ng t\u1ed1t h\u01a1n c\u1ed5 phi\u1ebfu gi\u00e1 tr\u1ecb. C\u1ed5 phi\u1ebfu gi\u00e1 tr\u1ecb \u0111\u00e3 ph\u1ee5c h\u1ed3i m\u1ed9t ph\u1ea7n v\u00e0o n\u0103m 2020, nh\u01b0ng gi\u1ea3m tr\u1edf l\u1ea1i khi c\u1ed5 phi\u1ebfu c\u00f4ng ngh\u1ec7 \u201cc\u1ea5t c\u00e1nh\u201d v\u00e0o cu\u1ed1i n\u0103m 2022.<\/p>\n

\u0110i\u1ec1u quan tr\u1ecdng c\u1ea7n l\u01b0u \u00fd l\u00e0 gi\u00e1 tr\u1ecb s\u1ed5 s\u00e1ch l\u1ea1i kh\u00f4ng ph\u1ea3i l\u00e0 th\u01b0\u1edbc \u0111o m\u00e0 c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 gi\u00e1 tr\u1ecb \u0111\u01b0\u01a1ng \u0111\u1ea1i d\u1ef1a v\u00e0o. <\/p>\n

\u201cChi\u1ebfn h\u1eefu\u201d c\u1ee7a t\u1ef7 ph\u00fa Warren Buffett, \u00f4ng Charlie Munger, \u0111\u00e3 d\u1ea1y \u00f4ng c\u00e1ch xem x\u00e9t v\u1ecb th\u1ebf c\u1ea1nh tranh c\u1ee7a m\u1ed9t c\u00f4ng ty. N\u1ebfu m\u1ed9t doanh nghi\u1ec7p li\u00ean t\u1ee5c \u0111\u1ea1t \u0111\u01b0\u1ee3c t\u1ef7 l\u1ec7 l\u1ee3i nhu\u1eadn tr\u00ean v\u1ed1n cao h\u01a1n m\u1ee9c trung b\u00ecnh, c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 c\u00f3 th\u1ec3 mua c\u1ed5 phi\u1ebfu c\u1ee7a c\u00f4ng ty \u0111\u00f3 m\u1ed9t c\u00e1ch an to\u00e0n, k\u1ec3 c\u1ea3 l\u00e0 v\u1edbi m\u1ee9c gi\u00e1 cao h\u01a1n nhi\u1ec1u l\u1ea7n so v\u1edbi ph\u1ea7n c\u00f2n l\u1ea1i c\u1ee7a th\u1ecb tr\u01b0\u1eddng. H\u01a1n n\u1eefa, gi\u00e1 tr\u1ecb t\u00e0i s\u1ea3n tr\u00ean b\u1ea3ng c\u00e2n \u0111\u1ed1i k\u1ebf to\u00e1n c\u1ee7a m\u1ed9t c\u00f4ng ty kh\u00f4ng ph\u1ea3i l\u00e0 th\u01b0\u1edbc \u0111o gi\u00e1 tr\u1ecb \u0111\u00e1ng tin c\u1eady, v\u00ec n\u00f3 lo\u1ea1i tr\u1eeb nhi\u1ec1u t\u00e0i s\u1ea3n v\u00f4 h\u00ecnh nh\u01b0 nghi\u00ean c\u1ee9u v\u00e0 ph\u00e1t tri\u1ec3n. Vi\u1ec7c mua l\u1ea1i c\u1ed5 phi\u1ebfu v\u00e0 s\u00e1p nh\u1eadp c\u00e0ng l\u00e0m sai l\u1ec7ch gi\u00e1 tr\u1ecb s\u1ed5 s\u00e1ch k\u1ebf to\u00e1n.<\/p>\n

Tuy nhi\u00ean, v\u1eabn c\u00f2n nh\u1eefng \u0111i\u1ec1u kh\u00e1c c\u1ea7n xem x\u00e9t. C\u00e1c c\u1ed5 phi\u1ebfu v\u1ed1n h\u00f3a nh\u1ecf, v\u1ed1n \u0111\u00e3 \u0111\u00e1nh b\u1ea1i c\u00e1c \u0111\u1ed1i th\u1ee7 l\u1edbn h\u01a1n trong l\u1ecbch s\u1eed v\u00e0 l\u00e0 t\u00e0i s\u1ea3n s\u0103n l\u00f9ng \u01b0a th\u00edch c\u1ee7a c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 gi\u00e1 tr\u1ecb, c\u0169ng t\u1eebng c\u00f3 m\u1ed9t chu\u1ed7i ng\u00e0y \u1ea3m \u0111\u1ea1m. <\/p>\n

Th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n to\u00e0n c\u1ea7u, c\u1ea3 ph\u00e1t tri\u1ec3n v\u00e0 m\u1edbi n\u1ed5i, \u0111\u1ec1u b\u1ecb \u0111\u00e1nh b\u1ea1i b\u1edfi hi\u1ec7u su\u1ea5t phi th\u01b0\u1eddng c\u1ee7a c\u1ed5 phi\u1ebfu M\u1ef9. Theo UBS, t\u1eeb 2010 \u0111\u1ebfn \u0111\u1ea7u n\u0103m nay, c\u1ed5 phi\u1ebfu M\u1ef9 \u0111\u00e3 mang l\u1ea1i l\u1ee3i nhu\u1eadn h\u00e0ng n\u0103m l\u00e0 10% sau khi t\u00ednh \u0111\u1ebfn l\u1ea1m ph\u00e1t. Trong c\u00f9ng k\u1ef3, c\u00e1c th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n kh\u00e1c mang l\u1ea1i m\u1ee9c l\u1ee3i nhu\u1eadn t\u1ed5ng c\u1ed9ng 2.6% m\u1ed9t n\u0103m sau khi t\u00ednh \u0111\u1ebfn l\u1ea1m ph\u00e1t. C\u00e1c th\u1ecb tr\u01b0\u1eddng m\u1edbi n\u1ed5i th\u1eadm ch\u00ed c\u00f3 m\u1ee9c l\u1ee3i nhu\u1eadn ch\u1ec9 b\u1eb1ng m\u1ed9t n\u1eeda con s\u1ed1 \u0111\u00f3. <\/p>\n

Howard Marks, nh\u00e0 \u0111\u1ea7u t\u01b0 gi\u00e1 tr\u1ecb k\u1ef3 c\u1ef1u v\u00e0 \u0111\u1ed3ng ch\u1ee7 t\u1ecbch c\u1ee7a Oaktree Capital Management, than th\u1edf r\u1eb1ng: \u201cM\u1ecdi chu\u1ea9n m\u1ef1c \u0111\u00e3 b\u1ecb \u0111\u1ea3o l\u1ed9n\u201d. <\/p>\n

Th\u1eddi k\u1ef3 kh\u00f3 kh\u0103n \u0111\u1ed1i v\u1edbi chi\u1ebfn l\u01b0\u1ee3c \u0111\u1ea7u t\u01b0 gi\u00e1 tr\u1ecb c\u00f3 th\u1ec3 \u0111\u01b0\u1ee3c gi\u1ea3i th\u00edch b\u1eb1ng nhi\u1ec1u y\u1ebfu t\u1ed1 kh\u00e1c nhau. <\/p>\n

\u0110\u1ea7u ti\u00ean, l\u00e3i su\u1ea5t c\u1ef1c th\u1ea5p sau cu\u1ed9c kh\u1ee7ng ho\u1ea3ng t\u00e0i ch\u00ednh to\u00e0n c\u1ea7u \u0111\u00e3 l\u00e0m t\u0103ng s\u1ee9c h\u1ea5p d\u1eabn c\u1ee7a c\u00e1c c\u1ed5 phi\u1ebfu t\u0103ng tr\u01b0\u1edfng. C\u00e1c c\u1ed5 phi\u1ebfu gi\u00e1 tr\u1ecb l\u00fac n\u00e0y t\u01b0\u01a1ng \u0111\u1ed1i b\u1ea5t l\u1ee3i. <\/p>\n

Th\u1ee9 hai, c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 gi\u00e1 tr\u1ecb b\u1ecb \u1ea3nh h\u01b0\u1edfng tr\u01b0\u1edbc s\u1ef1 m\u1edf r\u1ed9ng nhanh ch\u00f3ng c\u1ee7a c\u00e1c qu\u1ef9 \u0111\u1ea7u t\u01b0 ch\u1ec9 s\u1ed1. G\u1ea7n 60% th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n M\u1ef9 \u0111ang \u0111\u01b0\u1ee3c n\u1eafm gi\u1eef b\u1edfi c\u00e1c qu\u1ef9 theo d\u00f5i th\u1ee5 \u0111\u1ed9ng. Goldman Sachs d\u1ef1 b\u00e1o r\u1eb1ng t\u1eeb n\u0103m 2014 \u0111\u1ebfn 2026, t\u1ed5ng d\u00f2ng ti\u1ec1n r\u00fat kh\u1ecfi c\u00e1c qu\u1ef9 ch\u1ee7 \u0111\u1ed9ng \u1edf M\u1ef9 v\u00e0 ch\u1ea3y v\u00e0o c\u00e1c qu\u1ef9 th\u1ee5 \u0111\u1ed9ng s\u1ebd \u0111\u1ea1t kho\u1ea3ng 3 ng\u00e0n t\u1ef7 USD<\/span>. Khi c\u00e1c qu\u1ef9 th\u1ee5 \u0111\u1ed9ng ph\u00e1t tri\u1ec3n, nh\u00e0 \u0111\u1ea7u t\u01b0 b\u00e1n th\u00e1o c\u1ed5 phi\u1ebfu gi\u00e1 tr\u1ecb v\u00e0 v\u1ed1n h\u00f3a nh\u1ecf \u0111\u1ec3 chuy\u1ec3n sang qu\u1ef9 theo d\u00f5i S&P 500.<\/p>\n

<\/p>\n

Warren Buffett, ng\u01b0\u1eddi kh\u00f4ng tham gia v\u00e0o c\u01a1n s\u1ed1t th\u1ecb tr\u01b0\u1eddng \u0111\u00f3, \u0111\u01b0\u1ee3c cho l\u00e0 c\u0169ng kh\u00f4ng th\u1ec3 hi\u1ec3u n\u1ed5i chuy\u1ec7n g\u00ec x\u1ea3y ra. Nh\u01b0ng khi \u201cbong b\u00f3ng\u201d \u0111\u00f3 v\u1ee1 v\u00e0 m\u1ee9c \u0111\u1ed9 t\u1eadp trung tr\u00ean th\u1ecb tr\u01b0\u1eddng gi\u1ea3m, gi\u1ed1ng nh\u01b0 \u0111\u00e3 x\u1ea3y ra v\u00e0o n\u0103m 1975 v\u00e0 2000, c\u1ed5 phi\u1ebfu gi\u00e1 tr\u1ecb l\u1ea1i ho\u1ea1t \u0111\u1ed9ng v\u01b0\u1ee3t tr\u1ed9i trong nhi\u1ec1u n\u0103m sau \u0111\u00f3. <\/p>\n

V\u1eady, li\u1ec7u c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 gi\u00e1 tr\u1ecb c\u00f3 th\u1ec3 s\u1eafp b\u01b0\u1edbc v\u00e0o m\u1ed9t chu\u1ed7i chi\u1ebfn th\u1eafng n\u1eefa kh\u00f4ng?<\/p>\n

S\u1ef1 h\u1ed7n lo\u1ea1n trong nh\u1eefng th\u00e1ng \u0111\u1ea7u nhi\u1ec7m k\u1ef3 th\u1ee9 hai c\u1ee7a \u00f4ng Donald Trump c\u00f3 th\u1ec3 l\u00e0 \u201c\u0111i\u1ec1m b\u00e1o\u201d cho s\u1ef1 thay \u0111\u1ed5i nh\u01b0 v\u1eady. <\/p>\n

T\u1ea1i H\u1ed9i ngh\u1ecb Nh\u00e0 \u0111\u1ea7u t\u01b0 gi\u00e1 tr\u1ecb London ng\u00e0y 14\/05, \u00f4ng Richard Oldfield c\u1ee7a Oldfield Partners cho bi\u1ebft ch\u00ednh quy\u1ec1n \u00f4ng Trump, v\u1edbi l\u1eddi \u0111e d\u1ecda v\u1ec1 thu\u1ebf quan, \u0111ang g\u00e2y ra r\u1ee7i ro cho M\u1ef9. N\u1ebfu d\u00f2ng v\u1ed1n ch\u1ea3y v\u00e0o M\u1ef9 b\u1eaft \u0111\u1ea7u \u0111\u1ea3o ng\u01b0\u1ee3c, c\u00e1c th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n ph\u00e1t tri\u1ec3n v\u00e0 m\u1edbi n\u1ed5i kh\u00e1c s\u1ebd h\u01b0\u1edfng l\u1ee3i. C\u00e1c \u0111\u1ee3t t\u0103ng c\u1ee7a c\u1ed5 phi\u1ebfu gi\u00e1 tr\u1ecb li\u00ean t\u1ee5c gi\u1ea3m trong nh\u1eefng n\u0103m g\u1ea7n \u0111\u00e2y nh\u01b0ng, \u00f4ng Oldfield cho r\u1eb1ng l\u1ea7n n\u00e0y s\u1ebd kh\u00e1c. <\/p>\n

Nh\u1eefng tr\u1edf ng\u1ea1i t\u1eebng c\u1ea3n tr\u1edf c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 gi\u00e1 tr\u1ecb trong th\u1eadp k\u1ef7 qua c\u00f3 th\u1ec3 s\u1eafp tan bi\u1ebfn. <\/p>\n

Ba n\u0103m qua, l\u00e3i su\u1ea5t \u0111\u00e3 tr\u1edf l\u1ea1i m\u1ee9c b\u00ecnh th\u01b0\u1eddng h\u01a1n. 7 c\u00f4ng ty c\u00f4ng ngh\u1ec7 l\u1edbn nh\u1ea5t th\u1ecb tr\u01b0\u1eddng M\u1ef9 \u0111ang ch\u1ea1y \u0111ua \u0111\u1ea7u t\u01b0 v\u00e0o tr\u00ed tu\u1ec7 nh\u00e2n t\u1ea1o. Th\u1eddi gian s\u1ebd tr\u1ea3 l\u1eddi li\u1ec7u kho\u1ea3n chi ti\u00eau v\u1ed1n kh\u1ed5ng l\u1ed3 c\u1ee7a h\u1ecd c\u00f3 mang l\u1ea1i l\u1ee3i nhu\u1eadn th\u1ecfa \u0111\u00e1ng hay kh\u00f4ng. Nh\u1eefng c\u1ed5 phi\u1ebfu t\u0103ng tr\u01b0\u1edfng v\u1edbi v\u1ed1n h\u00f3a l\u1edbn n\u00e0y th\u1ef1c ra \u0111ang ho\u1ea1t \u0111\u1ed9ng k\u00e9m hi\u1ec7u qu\u1ea3 trong n\u0103m nay. Ng\u01b0\u1ee3c l\u1ea1i, c\u00e1c c\u1ed5 phi\u1ebfu gi\u00e1 tr\u1ecb v\u00e0 v\u1ed1n h\u00f3a nh\u1ecf \u1edf M\u1ef9 v\u00e0 nh\u1eefng n\u01a1i kh\u00e1c \u0111ang mang l\u1ea1i nh\u1eefng c\u01a1 h\u1ed9i \u0111\u1ea7u t\u01b0 ti\u1ec1m n\u0103ng. <\/p>\n

Kim Dung (Theo Reuters)<\/a><\/p>\n

FILI<\/a><\/p>\n<\/p><\/div>","protected":false},"excerpt":{"rendered":"

Chi\u1ebfn l\u01b0\u1ee3c \u0111\u1ea7u t\u01b0 gi\u00e1 tr\u1ecb \u0111ang \u201ch\u1ed3i sinh\u201d Warren Buffett, nh\u00e0 \u0111\u1ea7u t\u01b0 v\u0129 \u0111\u1ea1i nh\u1ea5t m\u1ecdi th\u1eddi \u0111\u1ea1i, […]<\/p>","protected":false},"author":1,"featured_media":46906,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[230],"tags":[],"class_list":["post-46905","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cau-chuyen-dau-tu"],"acf":[],"_links":{"self":[{"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/posts\/46905","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/comments?post=46905"}],"version-history":[{"count":0,"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/posts\/46905\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/media\/46906"}],"wp:attachment":[{"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/media?parent=46905"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/categories?post=46905"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/tags?post=46905"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}