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- UID
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- 402
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- 2011-7-11
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- 2016-4-19
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That is not true Audrey... If the return on the security can be completey explained by the return on the market then a=0, however the expected return would be equal to the expected return on the market multiplied by its sensitivity to the market...
a is not the rf and it is not the same as the alpha you would get from the sml, and definitely not the average return of the asset |
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发表于 2011-7-13 13:03
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