25. Which of the following are valid critiques of the Sharpe ratio of investment performance?

Select one or more:

a.

It is almost always an inappropriate measure to use on single stock

b.

It fails to consider alternative measures of risk beyond standard deviation

c.

In practice it will rely on the assumption of stationarity of returns, which may be false and misleading

d.

In its simplest form it does not distinguish between priced and unpriced risk

e.

It inherently relies on the market being strong-form efficient and is invalidated if this assumption fails

f.

It is not easily computed even with modern computers