题目
In order for CAPM to hold, markets must exhibit the STRONG form of efficiency; is it NOT enough that markets are weak- or semi-strong efficient. Which assumption is the key to achieving the strong form market efficiency that supports the CAPM conclusion?
选项
A.Investors are risk averse
B.Investors only care about first two moments
C.All investors make the same forecasts concerning the assets
D.Markets are frictionless, without taxes and transaction costs, with infinitely divisible assets
答案
C
解析
Investor homogeneity is arguably the most important, and unrealistic assumption.投资者同质化可以说是最重要但又最不现实的假设