The investor has a portfolio of five companies with a current market value of 1.5 million PLN. The value of the first two companies is 270,000 PLN each. The share of the next two companies is also equal and they constitute 40% of the portfolio (in total). The beta ratios of the first four companies are: 1.8; 0.8; -0.3; 1.2. The beta of the whole portfolio was determined at 0.876. The risk of investing in the wide stock exchange index on this market is 34%, while the risk associated with investing in the investor portfolio is estimated to be 18% a)Which of these five companies can be described as aggressive and which as defensive. Are there companies that we can't define as aggressive or defensive? Explain your answer. b) Calculate the share of specific risk in total risk for this portfolio? Present your calculations. c) Describe shortly what is "beta" paramether and how it can be used in finance? 7 A- B Bo $