Which of the following statements is false?

		Because investors are risk averse, they will demand a risk premium to hold diversifiable risk.
		The risk premium for diversifiable risk is zero, so investors are not compensated for holding firm-specific risk.
		Over any given period, the risk of holding a stock is that the dividends plus the final stock price will be higher or lower than expected, which makes the realized return risky.
		Because investors can eliminate firm-specific risk "for free" by diversifying their portfolios, they will not require a reward or risk premium for holding it.