Contrast the following three classical theories of portfolio allocation using i) The Markowitz model, ii) The Black–Litterman model, and iii) Capital asset pricing model (CAPM) in terms of the...

Contrast the following three classical theories of portfolio allocation using

i) The Markowitz model,

ii) The Black–Litterman model, and

iii) Capital asset pricing model (CAPM)

in terms of the following aspects of these models:

a. The assumptions of each model

b. The advantages and disadvantages of these assumptions