1. Consider the following situations, which part of investment process did the investor go through? Asset allocation or security analysis?

a. After much investigation, an investor finds that Google stock is currently underpriced.

b. An investor has decided to purchase gold, real estate, stocks, and bonds in equal amounts.

c. After considering current market conditions, an investor decides to place 60% of her funds in equities and the rest in bonds.

d. Investor is considering whether Apple or Amazon is more attractive.