Evaluate the development of the Capital Asset pricing Model (CAPM) in a paper. Identify and analyze the different applications to the CAPM. Be clear in illustrating how the model can be used to form important expected return measures and in turn valuation measure Conduct a comparative analysis of the potential outcomes associated and comparative benefits and risks for using the capital asset pricing model (CAPM) verse other risk and return theories.

Support your paper with minimum of five (5) resources. In addition to these specified resources, other appropriate scholarly resources, including older articles, may be included.