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Consider two investors who have the ability to invest in the same risky assets and the same risk-free asset. One of these investors is substantially
Consider two investors who have the ability to invest in the same risky assets and the same risk-free asset. One of these investors is substantially more risk averse than the other. Would you predict that the less risk averse investor is more likely to hold a complete portfolio with a higher Sharpe ratio than the other investor?
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