1) Prove or disprove that average Treynor's measure is equal to the market's one at each point...
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Question:
1) Prove or disprove that average Treynor's measure is equal to the market's one at each point of time among all the market participants. (This is cross-section at one point of time).
2) Prove or disprove that average Treynor's measure is equal to the market's one over time if a manager has no abilities and chooses stocks randomly. (This is time-series for one manager).
Related Book For
Intermediate Accounting Reporting and Analysis
ISBN: 978-1285453828
2nd edition
Authors: James M. Wahlen, Jefferson P. Jones, Donald Pagach
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