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I am studying CAPM and I discovered that they take E(return of market) - risk free rate as the risk premium. However, I remembered that

I am studying CAPM and I discovered that they take E(return of market) - risk free rate as the risk premium. However, I remembered that risk premium formula should be return of an asset - risk free rate , but not the expected value of the return of an asset - risk free rate. So why they will call it like that?

Thank you very much for the reply.

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