(Solved): Which of the following can we conclude based on our observation of capital market history from 1926 ...

Which of the following can we conclude based on our observation of capital market history from 1926 to 2016? (Hint: this is the "Second Lesson" from capital market history) O Securities perceived to be riskier had lower returns on average than securities perceived to have low or no risk. O Securities with lower returns had returns with greater risk (i.e., standard deviation of returns). O Securities had greater risk premiums due to having lower returns, on average. O We observed no relation between a stock's risk premium and standard deviation. Securities with greater risk premiums had returns with greater risk (i.e., standard deviation of returns).