5. Recalculate problem 4 for a portfolio manager who is not allowed to short-sell securities. a. What
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5. Recalculate problem 4 for a portfolio manager who is not allowed to short-sell securities.
a. What is the cost of the restriction in terms of Sharpe's measure and M?
b. What is the utility loss to the investor (A = 2.8) given his new complete portfolio?
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