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Discuss in detail the concept of Markovitz diversification, efficient portfolios, efficient frontier, market portfolio, the introduction of risk free securities in the risky portfolios and

Discuss in detail the concept of Markovitz diversification, efficient portfolios, efficient frontier, market portfolio, the introduction of risk free securities in the risky portfolios and how it changes the frontier shape followed by the evolution of CML and SML.

Hint*: use graphs to explain the concepts.

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