Which of the following is/are true? I. All else equal, adding undervalued security to an investment portfolio increases portfolio risk. II. All else equal, and over time, a larger number of investors should decrease the probability and number of under or overvalued securities. III. All else equal, a higher required rate of return increases the estimated value of a security.

Question 1 options:

1)	I only
2)	II only
3)	I and III
4)	II and III