Average treynor measure

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1) Prove or disprove that average Treynor's measure is equal to the market's one at each point of time among all the market participants. (This is cross-section at one point of time).

2) Prove or disprove that average Treynor's measure is equal to the market's one over time if a manager has no abilities and chooses stocks randomly. (This is time-series for one manager).

Reference no: EM133119379

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