Which of the following statements is FALSE?

Question 9 options:

	Because every security is owned by someone, the sum of all investors' portfolios must equal the portfolio of all risky securities available in the market
	If some security were not part of the efficient portfolio, then every investor would want to own it, and demand for this security would increase causing its expected return to fall until it is no longer an attractive investment
	The efficient portfolio, the portfolio that all investors should hold, must be the same portfolio as the market portfolio of all risky securities
	If all investors demand the efficient portfolio, and since the supply of securities is the market portfolio, then two portfolios must coincide