Multiple Choice
If a market proxy portfolio consistently beats all professionally-managed portfolios on a risk-adjusted basis, it may be concluded that
A) the CAPM is valid.
B) the market proxy is mean/variance efficient.
C) the CAPM is invalid.
D) the CAPM is valid and the market proxy is mean/variance efficient.
E) the market proxy is mean/variance efficient and the CAPM is invalid.
Correct Answer:

Verified
Correct Answer:
Verified
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