中文摘要：

目前，各个国家面临着不同程度的通货膨胀．在此情况下，如何规避通货膨胀所带来的财富稀释是现阶段所有投资人追求的目标．本文从投资产品的价格出发给出了两阶段均值一方差投资问题的最优解．分析了交易费用、风险资产的期望回报率以及波动率对投资策略的影响．最后，我们依据实际算例分析为投资者提供指导，并且给出了政策建议．

英文摘要：

At the present time, each country of the world is affected by the inflation in various degree. In this case, how to evade the dilution of wealth because of inflation is what investors are aiming for. This paper gets the optimal solution of the two-stage mean-variance model in terms of the price of assets. And we study the effects of transaction costs, expected return rate and volatility on the investment strategies. At last, we show some advice for investors and policy advice according to our examples.