Problem #3 (Sharpe Measure): Your client, Larry, is concerned about risk and read an article on the Sharpe measure. 1. In 3-5 sentences, explain the Sharpe measure and why it is important. 2. Here is a snapshot of your client's portfolio and the S&P 500 index. Calculate the Sharpe measure for your client's portfolio. 3. Calculate the Sharpe measure for the market portfolio. 4. In 3-5 sentences, analyze your client's risk profile. Larry's Portfolio return 12% Beta for Larry's portfolio 2.00 Std deviation for Larry's portfolio 18% Risk-free rate 3% Return on the S&P 500 portfolio 8% Std deviation of the S&P 500 portfolio | 12%