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The document summarizes key concepts from a lecture on the Capital Asset Pricing Model (CAPM) and the Arbitrage Pricing Theory (APT). It introduces CAPM, including its assumptions, formula, and how it relates expected return to beta. It also discusses the security market line and capital market line. The document then covers limitations of CAPM and introduces the APT model and Fama-French three factor model using size and book-to-market factors. Important risk factors for models are also listed.

Author

kerenkang

Language

EN