My name is Rahul Pansari & I am registered student from Lalkothi, Jaipur Centre.
Sir, You told that Systematic Risk is captured by Beta. And Systematic Risk is due to economy factors which is not arised due to entity's internal factors.
At the same time, you taught in Security Analysis that Beta has two factors, one is due to Risk of the Sector in which entity is engaging and Second is due to Leveraging in the co. (Que of Levaraging- Deleveraging also done on this concept).
So my Doubt is that if Beta not represents internal risk (i.e. unsystematic Risk) then how is of two types- Levered & Unlevered ?