Show that the standard CAPM should hold even if short sales are not allowed. R,-0.04 +0.106,
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R,-0.04 +0.106,
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To be rigorous one should use the four KuhnTucker conditions shown in Appendix ...View the full answer
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Related Book For
Modern Portfolio Theory and Investment Analysis
ISBN: 978-1118469941
9th edition
Authors: Edwin Elton, Martin Gruber, Stephen Brown, William Goetzmann
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