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An investor has a $8 million portfolio which he wants to invest in risky equities. He wants to be sure that there is no greater

An investor has a $8 million portfolio which he wants to invest in risky equities. He wants to be sure that there is no greater than 5% chance that he will suffer a loss of $500,000 or more over the next five days. What is the largest standard deviation of return that he should allow on his chosen portfolio? State your answer in units of the daily standard deviation of return. Recall that the 95% critical value for a normal distribution is 1.67, and assume that the return on the portfolio is normally distributed

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