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3. Suppose Kim and Susan care only about the mean and standard deviation of their portfolio return. Kim is more risk averse than Susan. Suppose

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3. Suppose Kim and Susan care only about the mean and standard deviation of their portfolio return. Kim is more risk averse than Susan. Suppose that Susan holds the tangency portfolio. Which portfolio might Kim hold? A. 100% long the tangency portfolio B. Long the tangency portfolio and short the risk-free asset C. Long the tangency portfolio and long the risk-free asset D. Short the risk-free asset

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