1. Have you done any stock investments? Which stocks would you pick for your long-term investment, which ones for your short-term investment, and why?

2.Stocks versus Gambling: Critically evaluate the following statement: playing the stock market is like gambling. Such speculative investing has no social value, other than the pleasure people get from this form of gambling.

3. Discuss the limitations and challenges of CAPM when you apply this model to the real world stock markets.