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The return last year for a hedge fund before fees was 10%. During the year, 90 day T-bills returned 2% and the overall market returned

The return last year for a hedge fund before fees was 10%. During the year, 90 day T-bills returned 2% and the overall market returned 8%. The portfolio had a beta of 1.4. Did the hedge fund do a good job? (HINT: Use the CAPM to determine the expected return given the amount of risk taken on.)

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