Question
7. According to the analysis performed by researchers at NYU and AQR, Warren Buffet's returns appear to violate the tenets of CAPM because: A. He
7. According to the analysis performed by researchers at NYU and AQR, Warren Buffet's returns appear to violate the tenets of CAPM because:
A. He employs leverage
B. Actually, the analysis does not claim these returns necessarily violate CAPM
C. His insurance business subsidizes the portfolio's borrowing costs
D. He manages a concentrated portfolio
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Management Science The Art Of Modeling With Spreadsheets
Authors: Stephen G. Powell, Kenneth R. Baker
3rd Edition
0470530677, 978-0470530672
