Question
6) Critically evaluate the following statement: If markets are semi-strong efficient, then CAPM alpha produced by an active fund manager can only be explained by
6) Critically evaluate the following statement: If markets are semi-strong efficient, then CAPM alpha produced by an active fund manager can only be explained by either random luck, fraud or insider activity. (25 pts)
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Fraud examination
Authors: Steve Albrecht, Chad Albrecht, Conan Albrecht, Mark zimbelma
4th edition
538470844, 978-0538470841
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