4. Professors H, J, and K are having a conversation about investments. They all participate in a retirement plan wtheire they can invest in any combination of a US stock index fund and a US bond index fund (There's no T-Bill investment offered in the retirement plan, and this is the only savings vehicle for all three of them). They have similar time horizons and net worths, and are all risk averse. Professor K says, "Professor H, you are missing out. If you take just a little more risk, you can get as much expected return as Professor J and will be better off." a. Explain why Professor K is wrong. Ignore any other investments they may have outside this illustration. No calculations are necessary. (4 points)

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