Question: 0 points in total. Please explain your reasoning-just a sentence or two are fine, but you are raded on the explanation. 1. You are talking

0 points in total. Please explain your reasoning-just a sentence or

0 points in total. Please explain your reasoning-just a sentence or two are fine, but you are raded on the explanation. 1. You are talking to a hedge fund manager who claims he beat the market consistently without taking on more risk. The manager says his fund has a CAPM beta of 1 yet it achieved average returns in excess of the risk-free rate of 12% over a long period of time when the market risk premium was 10%. Claim: The manager is right. Given the CAPM beta of his strategy and his performance it must be that he beat the market without taking on more risk

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