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Some proponents of behavioral finance believe that investors structure their portfolios as pyramids. Which of the following best represents the resulting structure of their portfolios? A. The bottom layer of an investor’s pyramid will be invested in stock with higher layers invested in bonds and cash. B. Several pyramids of different sizes will be formed, each representing a different funding requirement. C. The bottom layer of an investor’s pyramid will be invested in bonds and cash with higher layers invested in stock. |