Question: 3. Risk and Return We have seen that over long periods, stock investments have tended to substantially outperform bond investments. However, it is not at

 3. Risk and Return We have seen that over long periods,

3. Risk and Return We have seen that over long periods, stock investments have tended to substantially outperform bond investments. However, it is not at all uncommon to observe investors with long horizons holding their investments entirely in bonds. Are such inves- tors irrational

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