Suppose you tell a financial advisory client that their portfolio experienced a positive Alpha of 2.4%. The market as a whole returned 12%. A rational response of your client would be:

Select one:

a. Well done. You beat the market on a risk adjusted basis for this period.

b. I will not settle for a 2.4% return when the stock market is doing so well.

c. I would need more information to decide if you did well or not.

d. Can you feed my Poodle when I am out of town next week?