caption: Conclusion: To preclude arbitrage opportunities, the expected return on all well-diversified portfolios must lie on the straight line from the risk-free asset.
exif: {"Image DocumentName": "Conclusion: To preclude arbitrage opportunities, the expected return on all well-diversified portfolios must lie on the straight line from the risk-free asset.", "Image ImageDescription": "The equation of this line will dictate the expected return on all well-diversified portfolios. Note that risk premiums are indeed proportional to portfolio betas.", "Image XResolution": "37", "Image YResolution": "37", "Image ResolutionUnit": "Pixels/Centimeter", "Image Software": "SlidePlayer", "Image YCbCrPositioning": "Centered"}