Lecture8 - Portfolio Management Theory(Behavioral AEM 4230...

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1 AEM 4230 Copyright © by Vicki Bogan Portfolio Management Theory (Behavioral) Risk and Return – Traditional Approach / Explanation CAPM Fama-French Three-Factor Model
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2 Behavioral Approach Anomalies May be risk premiums Limits to Arbitrage Behavioral Explanations Limits to Arbitrage vs. Market Efficiency EMH Limits to Arbitrage
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