CFAI Book 6, RD.68, PG. 580, Q16
CAPM is 10.9%, forecasted return is 9%.
I always get this confused. According to the book, since the forecasted return is below the CAPM, it is overvalued.
Why is it overvalued? If it lies below SML shouldn’t it be undervalued?
Thanks! |
发表于 2013-4-8 12:06
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