As a financial manager, you found that the capital market is very risky and volatile. As we know that the firm$$s

Beta $(\backslash$beta $)$ measures the volatility, or systematic risk, of a security, as it compares to the broader market. The higher the

firm$$s Beta, the higher the security$$s risk, as it compares to the broader market. However, the shareholders of your firm

heard about another firm with negative Beta, and they are confused now. The shareholders of your firm would like to

know if a firm can have a negative beta. If yes, what would the expected return on such a firm be$?$ Why? Please

explain your reasoning by providing a quality argument. $(4$ Points$)$