How would his successors increase the chance of getting positive bonus?

I. Borrow money to buy the Vanguard market portfolio so that their market beta can be levered up to a number higher than 1.

II. Increase the idiosyncratic risk in their investment but do not increase their market beta beyond 1

III. Buy small stocks or value stocks

IV. Obtain better information than the market on some stocks and invest in the stocks that can deliver positive alpha

		I and III
		I, III, and IV
		I and II
		II and III