when there is info given for beta and mkt return in the question and we are asked to calculate imp shortfall, do we implicitly calculate the mkt adjusted imp shortfall or we stick to the plain vanilla imp shortfall unless stated otherwise?
when there is info given for beta and mkt return in the question and we are asked to calculate imp shortfall, do we implicitly calculate the mkt adjusted imp shortfall or we stick to the plain vanilla imp shortfall unless stated otherwise?