Critically discuss the Capital Asset Pricing Model (CAPM) the underlying assumptions, its validity, and the criticism against CAPM. Explain the proposed models by the literature as alternatives to the CAPM? Utilise arguments from the theoretical and empirical literature to support your discussions. Structure your answer for this question into three subsections: I) introduction; II) analytical and critical discussions; III) Conclusion Guidance: Utilise arguments and findings from updated literature to support your discussions. Support the answers with graphs and formulae where appropriate. Graphs are allowed within the text. Extra graphs can be moved to the Appendix at the end. Formulae should be written using the equation function in Word. Students may include the formulae in the footnote of the page to or move to the appendix at the end to save space