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To determine the optimal risky portfolio in the Treynor - Black model, macroeconomic forecasts are used for the _ _ _ _ _ _ _
To determine the optimal risky portfolio in the TreynorBlack model, macroeconomic forecasts are used for the and composite forecasts are used for the
active portfolio, passive index portfolio
expected return ; beta coefficient
passive index portfolio; active portfolio
expected return; standard deviation
alpha coefficient; beta coefficient
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