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21. According to the CAPM: A. An investor who is risk adverse should hold at least some of the risk-free asset in his portfolio. B.

21. According to the CAPM: A. An investor who is risk adverse should hold at least some of the risk-free asset in his portfolio. B. All investors who take on risk will hold the identical portfolios of risky assets. C. A stock with high risk, measured as standard deviation of returns, will have high expected returns in equilibrium. D. Individual investors are price setters. E. None of the above

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