ULRm = E(Rs,m) − 0.005λσ2(Rs,m)
Does anyone know why this formula is always expressed as 0.005, even though that would always give you the wrong answer since it’s always calculated as 0.5
Nothing like a good trick fake formula
It depends if you’re using decimals or percentages in your formula. I’m old too, so I can’t quite remember which applies when. 
it only works if you use percentage for expected return and decimal for the variance, and i can’t think of any reason why anyone would do that. oh well
If using decimals, use 0.5.