Kasim has $20,000 to invest in non-registered investments. At age 33, he has a long-term investment horizon and is looking primarily for growth. A head office employee of an insurance company, Kasim rents his apartment and leases a vehicle. He has no current balances on the two credit cards that he holds. He is looking for a growth investment and is considering the common stock of three different companies, all in the resource sector, that are regularly traded on a major Canadian stock exchange. Given Kasim's circumstances, what is the biggest downside risk that he would face by investing in individual stocks, rather than segregated or mutual funds? Question 10 options: 

A) Lack of liquidity 

B) Lack of diversification 

C) Risk of unlimited losses 

D) Lack of creditor proofing