Every several months, I receive spam emails from Pablo Fernandez and I got it again this week. This may increase your SSRN ranking but this just indicates that you and your crappy Spanish school (even Harvard, the school you got your PhD) are ridiculous.
Dear ….,
I have rewritten the paper “CAPM: an absurd model” http://ssrn.com/abstract=2505597
Comments, criticism and suggestions to the first draft are collected in
“CAPM: the model and 233 comments about it” http://ssrn.com/abstract=2523870
181 persons basically agree in using the adjective “absurd” to qualify the CAPM and 52 do not agree. I thank them all very much: I have learned a lot reading (and thinking about) their opinions: real opinions of real persons that know finance and have thought about the CAPM, the market return, the beta, the market risk premium....
Thanks and best regards,
Pablo Fernandez
Professor of Finance. IESE Business School. Madrid. Spain
PhD BusEc (Finance). Harvard U.