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How do you think CAPM perform in a setting of a major financial/economic crisis, e.g. Covid19 peak during 2020? Should we include data on crises

How do you think CAPM perform in a setting of a major financial/economic crisis, e.g. Covid19 peak during 2020? Should we include data on crises periods when calculating CAPM? Should we exclude such periods? Why or why not?

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