When an investor establishes a position in a security,

Select one:

a. they are said to be long if they purchase the security for their account.

b. they are said to be long if they sell the security for their account.

c. they are said to be short if they sell the security for their account.

d. they are said to be short if they purchase the security for their account.

e. Both a and c

According to Charles Ellis' Winning the Loser's Game, all forms of active investing have one fundamental characteristic in common. That common characteristic is:

Select one:

a. Capitalizing on the mistakes of others.

b. Buy and hold strategy.

c. Selecting specific stocks or groups of stocks.

d. Using advanced statistical models.

e. The use of investment vehicles that closely follow broad-based market returns (i.e., market indexes).