19. Some people have argued that the market portfolio can never be measured and that the CAPM,...
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19. Some people have argued that the market portfolio can never be measured and that the CAPM, therefore, is un testable. Others have argued that APT specifies neither the number of factors nor their identity and, hence, is also untestable.
If these views are correct, docs this mean that the theories arc of no value? Explain.
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Investments
ISBN: 9788120321014
6th Edition
Authors: William F. Sharpe, Gordon J. Alexander, Jeffery V. Bailey
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