Investors can invest in a risk-free asset and a risky portfolio constructed out of 3 risky assets. Sara is more risk averse than Brian. Both Sara and Brian make the optimal portfolio choice. Which of the following statements is true?

		Saras optimal complete portfolio has a higher Sharpe ratio than that of Brians.
		Sara and Brian will pick different optimal risky portfolios.
		Compared to Brian, Sara puts a smaller fraction of her total investment money into the risk-free asset.
		Saras optimal complete portfolio will have a lower standard deviation compared to that of Brians.