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Capm Excel

Capm Excel - Icapm, like capm, makes several assumptions, including that global markets are integrated and efficient. If this assumption fails, then stock selection is critical; Capm得到的expected return of equity,我们可以用dividend discount model 和 这里得到的expected return of equity去给股票估值。 dividend discount model 强调的是未来现金流是预期. Capm如果适用,每个证券不存在 \alpha_i,都应该为0。 sim (或atp)内部分证券 \alpha_i 可以不为0,只需要保证. The capital asset pricing model (capm) is used to calculate the required rate of return for any risky asset.

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