Question: 10.3 Risk and Return. We have seen that over long periods of time, stock investments have tended to substantially outperform bond investments. However, it is

10.3 Risk and Return. We have seen that over long periods of time, stock investments have tended to substantially outperform bond investments. However, it is not at all uncommon to observe investors with long periods of holding entirely bonds. Are such investors irrational? Explain. (3 points)

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