The return on an asset added to a portfolio is less than perfectly positively correlated with the returns of the other assets in the portfolio but has the same standard deviation. What effect will adding the new asset have on the standard deviation of the portfolio’s return The standard deviation:

单项选择题An investor currently holds a portfolio that is expected to return 15 percent. The investor is planning to sell one of the securities included in the current portfolio that has an expected return of 13 percent and use the proceeds to purchase a security that has an expected return of 14 percent. Compared to the investor’s current portfolio, the expected return for the investor’s revised portfolio will be:

单项选择题When an investor can borrow and invest at the risk-free rate, which of the following statements is NOT valid