What criticism below of the traditional academic view of the distribution of returns in financial assets is NOT VALID? O a Financial assets have arrowe/smaller tails in the actual distribution than the normal distribution 6. The observed daily returns tend to be bunched very close to the mean (within about 0.5 std. deviations with a higher density at the mode c. The academic models do not account for correlated volatility, high volatility days tend to follow other high volatility days) d. Financial assets have a righer density tail on the downside than the upside de the distribution has a negative skew) What criticism below of the traditional academic view of the distribution of returns in financial assets is NOT VALID? O a Financial assets have narrower/smaller tails in the actual distribution than the normal distribution: O b. The observed daily returns tend to be bunched very close to the man (within about 0.5 std. deviations with a higher density at the mode. O. The academic modes do not account for correlated volatility log.high volatility days tend to follow other high volatility days) d. Financial assets have a higher density tail on the downside than the upside (ie the distribution has a negative skew)