Financial Economics — Lecture 9: Alpha and Stock Selection, Capital Budgeting with the CAPM, Testing the CAPM, and the Size and Value Anomalies (RECONSTRUCTED)

RECONSTRUCTED · STALEThere is no recording of 6 October. This note's range — deck 04a pp. 25–34 and the whole of deck 04b — is inferred: only its starting point is evidence, because 1 October stopped on 04a p. 24. The 15 October review was the next record that could have corrected it, and it did not: it never names 6 October or dates a page of either deck, so part of this note may still belong to the 13 October lecture. Every page of both decks is here either way. Read it as provisional.

Reconstructed (no recording; the range is inferred and only its starting point is evidence (1 Oct stopped on 04a p. 24); the 15 Oct review did not settle it)STALE (the 15 Oct review did not settle its range)Midterm 20 Oct: in — Block 4. The time-series test will not be asked (10/15 τ 61:28); why 4- and 5-factor models exist could be (τ 53:16)P9: Passing — last confirming re-check 13 Oct. Edited after it — 16 Oct: its five forward lines re-pointed to the 13 and 15 Oct notes, with the 15 Oct review's remarks added; range, RECONSTRUCTED and STALE unchanged. Those edits were checked by the editing passes' own math, quotation and leak runs, not by a new audit.Adapted self-checks X36, X39, X43, X44, X47 restate the claim of the item they adapt (16 Oct check). If you mean to sit the practice papers clean, sit them before reading these. Each idea is also in the course's own decks, workbook or recordings.