Page 277 CFAi 277. " We combine the covariance matrix with the capitalization weights in Exhibit 20 to find EQUILIBRIUM EXPECTED RETURNS showin in exhibit 21" There is foot note on the bottom of the page that i can’t understand. Any smarties out there care to explain? Thanks!
http://www.analystforum.com/phorums/read.php?13,1132039 I asked the same thing like 2 days ago