REFLECTIONS - Market Efficiency: A Theoretical Distinction and So What? With the aid of some simplifying assumptions, the capital asset pricing model comes to dramatic conclusions about practical matters, such as how to choose an investment portfolio and how to value financial assets. As illustrated in this article, when one particular, clearly unrealistic CAPM assumption is replaced by a more ...
| Year of publication: |
2005
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| Authors: | Markowitz, Harry M. |
| Published in: |
Financial analysts' journal : FAJ. - Charlottesville, Va : CFA Institute, ISSN 0015-198X, ZDB-ID 2194090. - Vol. 61.2005, 5, p. 17-31
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