Enhanced beta

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Look out — someone’s seen you coming. Given that beta is defined as the unenhanced market average — then a salesperson who comes along hawking the idea of enhancing it is either a moron, or[1] up to no good.

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References

  1. This might be an occasion where “and/or” is justified: the most likely case is that this person is both a moron and is up to no good, but it could be one or the other. But I still can’t bring myself to do it.