Correct answer = C
"An Introduction to Asset Pricing Models," Frank K. Reilly and Keith C. Brown
2008 Modular Level I, Vol. 4, pp. 257-259
Study Session 12-51-b
identify the market portfolio, and describe the role of the market portfolio in the formation of the capital market line (CML)
The only way an investor can achieve a portfolio to the right of the market portfolio is to borrow at the risk-free rate and invest the proceeds in the market portfolio; 100% of the investor's wealth plus the borrowed funds are invested in the market portfolio.
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发表于 2008-5-27 03:10
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