Questions 38-39: Answer the following questions with reference to the points plotted on the graph below. 25.00 Optimal CAL 20.00 Stocks 15.00 10.00 + Gold 5.00- 0.00 10 20 30 40 Standard Deviation (%) 38. (5 points) Portfolios B and D lie outside the efficient frontier of risky assets but they are achievable. Explain how investors could form these portfolios. (No numbers needed). 39. (4 points, bonus) Robert Rinn stated that he would never invest in portfolio C because portfolio C wa overvalued according to the CAPM. Do you agree with Robert? Why? Expected Return (%)