Question: While the capital asset pricing model (CAPM) has been widely used to analyze securities and manage portfolios for the past 50 years, it has also

While the (CAPM) has been widely used to analyze securities and manage portfolios for the past 50 years, it has also been widely criticized as providing too simple a view of risk. Describe three problems in relation to the definition and estimation of the beta measure in the CAPM that would support this criticism.

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