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1. Portfolio Return Consider an investor who just made a portfolio consisting of 100 shares of PNM Resources stocks (PNM) and 10 shares of Exxon

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1. Portfolio Return Consider an investor who just made a portfolio consisting of 100 shares of PNM Resources stocks (PNM) and 10 shares of Exxon Mobile stocks (XOM), when PNM was worth $50 per share and XOM was $120 per share. Suppose a year later, the PNM price rises to $60 per share, and the XOM price rises to $125 per share. (a) Find the rate of return on each of the two stocks. (b) Find the fraction of total investment held in each of the two stocks. (c) What is the return on the portfolio

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