Professor Jeremy Siegel, of the University of Pennsylvania, did research showing that:
A. bonds really are less risky to hold over the long term.
B. owning stocks over the long run produces returns below the risk-free return.
C. the return on the S&P 500 for a 25-year period often produces returns below zero.
D. if an investor owns stocks for a very short time the risk is greater than if the stocks are held for a long time.
Answer: D
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