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Empirical tests of the CAPM When empirically testing an asset pricing model such as the CAPM, what is meant when it is said that such

  1. Empirical tests of the CAPM
    1. When empirically testing an asset pricing model such as the CAPM, what is meant when it is said that such an analysis is a dual test?
    2. Explain some of critiques of Roll and others that have been made against the CAPM
    3. Do you think that the CAPM should still be used in practice when assessing an assets risk/return? Why?

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