Suppose that Stock L has a historical return of 12% and the standard deviation of its historical return is 6%. Stock M also has a historical return of 12%, but the standard deviation of its historical return is 8%. Which of the following statements must be true?

Risk averse investors would rather invest in stock L today.

Risk averse investors would rather invest in stock M today.

Risk averse investors would be indifferent between the two stocks.

Cannot be determined.