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An investor has a utility function which assigns very high utility to portfolios with extreme positive return realisations, independent of the mean and standard deviation

An investor has a utility function which assigns very high utility to portfolios with extreme positive return realisations, independent of the mean and standard deviation of the portfolio returns. This is consistent with:

Select one:

a.Preferences for low idiosyncratic volatility

b.The CAPM

c.Preferences for low-risk

d.Mean-variance utility

e.Preferences for lottery-like payoffs

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