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Solve the system of equations using substitution.
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Four-Factor Model
An investment model that extends the three-factor model by adding momentum as a factor to account for stock performance.
Excess Returns
The return on an investment beyond the return expected from the risk level, often compared to benchmarks or risk-free returns.
Fama and French
A model developed by Eugene Fama and Kenneth French that expands on the Capital Asset Pricing Model (CAPM) by adding size risk and value risk factors to the market risk factor.
Technical Analysis
A technique for appraising securities through the study of market-generated statistics, like previous prices and transaction volumes.
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