Black-Litterman

Toolset pfopt_black_litterman: 2 tools.

Tool	What it does	Notes
`pfopt_black_litterman`	Black-Litterman: combines a prior of annual returns with absolute and relative views into posterior expected returns and covariance, the views weighted by their uncertainty (proportional to variance, from percentage confidences by Idzorek’s method, or given).
`pfopt_market_implied`	The market-implied risk aversion δ = (market return - risk-free) / market variance from a benchmark index’s prices, and with market caps the equilibrium prior returns Π = δ Σ w_mkt + risk-free that make the market portfolio optimal.

Inputs, limits and outputs are described in Fincept Portfolio Optimizer. Full schemas: fincept_describe_tool.