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According to Bodie, Kane, Marcus each of the following is true, could someone please explain me how is it so?

1. While SMB (Small Minus Big) and HML (High Minus Low) are not themselves the candidates for relevant risk factors , the argument is that these variables are proxies for fundamental variables . Please explain how is it true as they are risk factors as per the FF Model.

2. None of the factors can directly and clearly be identified as hedging a significant source of uncertainty. Aren't these meant for hedging in the first place ?

3. It is an important question whether FF Model reflects an APT or Multi Index CAPM approximation but the debate is unsettled.

Kindly help. Thanks.