1.Which of the following statements is incorrect?
(A) If the market portfolio is not efficient, then a stock's beta with the market is not an adequate measure of its
systematic risk.
(B)The true market portfolio stocks, bonds, real estate, art, and precious metals.
(C) Nonzero alphas may indicate that the wrong market proxy is beings used.
(D) The inforrnation required to implement a momentum strategy is not readily available to investors.
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