Bradley, Hirt and Smit's data shows that

1. Many companies are not simply bold enough
2. Their strategies are not designed for big moves
3. Both (a) and (b)
4. Neither (a) nor (b)

In order for firms (2,393 firms in the BHS analysis dataset) to move to the top quintile of the power curve in 2010-'14 from the bottom quintile, the minimum amount of capital required is

1. $5B
2. $2B
3. $3B
4. None of the above