Question: Explain the Two-Fund Separation Theorem and discuss possible explanations to why it is barely supported by empirical evidence. References and citations are needed to support

Explain the Two-Fund Separation Theorem and discuss possible explanations to why

Explain the Two-Fund Separation Theorem and discuss possible explanations to why it is barely supported by empirical evidence. References and citations are needed to support your arguments. Your answer must not exceed 300 words and you must note your word count at the end of your answer. Tables/diagrams/references/direct quotes/footnotes and the reference list are excluded from the word count. (30 marks)

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