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Consider a utility function given by U=E(r)-A 2 (which is, in fact, the utility function used in Holden Worksheet). Using the expected return and standard
Consider a utility function given by U=E(r)-A2 (which is, in fact, the utility function used in Holden Worksheet). Using the expected return and standard deviation of the optimal risky portfolio denoted by E(rp) and p respectively, write the mathematical expression of the maximum utility level obtained with the optimal complete portfolio.
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