Alice Risko and Bob Reckonwith are portfolio managers. Alice Risko runs AlphaCapital Group, LLC. She is a large-cap core manager and her universe consists of the constituents of the S\&P 500 . She has security analysts who work with her, analyzing stocks and helping her come up with expected return, variance, and covariance forecasts. She uses the Barra portfolio optimizer (which is professional-grade version of the Solver we used in class). The optimal risky portfolio she comes up with has a Sharpe ratio of 1.07 . Bob Reckonwith runs Reckonwith Investment Group, LLC. He is also a large-cap core manager (his investment universe is the same as Alice's) and uses the same optimizer as Alice. He has his own security analysts who help him come up with expected return, variance, and covariance forecasts. His optimal risky portfolio has a Sharpe ratio of 0.32 . You are an investment advisor analyzing the two portfolios and trying to determine which one to recommend to your client. Which portfolio would you recommend, Alice's or Bob's? Please explain. If you cannot make a determination from the information provided, please explain what other information or metrics you would need in order to come to a decision as to what would be a better option for the client. PLEASE CLEARLY STATE YOUR ANSWERS AND EXPLAIN YOUR REASONING IN THE BOX BELOW TO RECEIVE CREDIT