Which of the following statements is correct?

1.	No one's investment portfolio can be the market portfolio because that would mean one individual owns all of the market.

2. The weights in the market portfolio are determined by dividing one by the total number of stocks.

3.	An individual's portfolio can be the market portfolio by holding each stock as a percentage of her portfolio equal to the proportion of its market capitalization to all stocks' market capitalization.

4. Only an ignorant investor would hold the market portfolio instead of picking stocks based on her own research.