An investor decides to sell long-term bonds and buy equities in order to profit from a change in the current phase of the business cycle. For this strategy to pay off, into which phase of the business cycle is the economy likely entering? a) End of peak and into recession. b) End of expansion and into recession. c) End of contraction and into expansion. d) Late expansion and into peak. What is the generally regarded minimum number of stock holdings in an equity portfolio at which point non-systematic risk is eliminated? a) 24 b) 32 c) 42 Od 15 Only_..._ of a capital gain is taxable. a) 2/3 b) 1/4 ) O c) 1/2 Od) /