You just justed received your annual performance statement from your investment advisor. The statement indicates thaty your portfolio return for the past year was up 12%. In addition, you noticed within the statement that the S&P 500 rose 10%. Also, the statement gave the portfolio's beta, which means nothing to you, was 1.8. Further on, you read that the TSY Bill rate for the time period was 4.75%. To your dismay, the statement did not provide any further explanation. Therefore, you decide to call your investment advisor for clarification on what this all means. As an investment advisor, what is your response to your client? As the client, are your happy with the performance of the portfolio?
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