胡雪岩是清末的奇商,台湾高阳先生将他的一生成败分别写进《胡雪岩》、《红顶商人》及《灯火楼台》三部长篇小说,风靡一时。高阳先生重塑胡雪岩,十分着重对其商业策略的描写。本文尝试分析《胡雪岩》中的资本形态、选派人才的方式、市场运作等手段，以见这位一代奇商的成功因素。 

Mr Kao Yung in Taiwan has written about the successes and failures of Hu Xueyan, an eccentric businessman at the end of the Qing dynasty, in his three instantly popular novels, Hu Xueyan, Red-capped Businessman and The Well-lit Tower. In his re- shaping of Hu Xueyan, Kao Yung lay much emphasis on the description of Hu's business strategies. This article seeks to analyze the formation of capital, ways of selecting and appointing the talented people and the market operations in Hu Xueyan, in an attempt to show the elements of success achieved by this wonderful legendary businessman.