A number of different models can be used to estimate return. Derive the circumstances under which the

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A number of different models can be used to estimate return. Derive the circumstances under which the use of the zero-beta model might lead to the market being considered inefficient when the standard CAPM indicated efficiency.

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Modern Portfolio Theory and Investment Analysis

ISBN: 978-1118469941

9th edition

Authors: Edwin Elton, Martin Gruber, Stephen Brown, William Goetzmann

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Question Posted: Jun 10, 2015 05:36 AM

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A number of different models can be used to estimate return. Derive the circumstances under which the

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Recall that the zerobeta CAPM leads to lower expected returns for high...View the full answer

Modern Portfolio Theory and Investment Analysis

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