Which of the following statements is correct?

a. If the capital appreciation return from owning a stock is positive, then the total return from owning the same stock cannot be negative.

b. All the answers are correct.

c. The greater the risk associated with an investment, the lower the return investors expect from it.

d. Diversified portfolios generally have more risk for a given level of return than the individual risky assets in the portfolio.

e. Diversified investors face only unsystematic risk.