A well-diversified investor holds an equal investment in cash of the equity shares of Meyer, Inc., Johnson, Inc., and Fairfax Enterprises. The three companies operate in the same industry and will benefit equally from a favorable decision in a pending court case. The investor concludes that the current stock prices for Meyer and Johnson each reflect a 50 percent probability that the decision will be favorable to the industry, while the current stock price for Fairfax reflects a 70 percent probability that the decision will be favorable. The most. appropriate strategy for the investor is to:
A. sell Fairfax shares and use the proceeds to purchase additional shares in Meyer and Johnson.
B. sell both Meyer and Johnson shares and use the proceeds to purchase additional shares in Fairfax.
C. reallocate the investment in the industry to 15 percent in Meyer, 15 percent in Johnson, and 70 percent in Fairfax.
参考答案：A
解析： 3个公司在同一行业中，就目前股价而言，Meyer and Johnson反映了50%的概率，Fairfax反映了70%的概率，而且是一个看好的情况，对股票价格有正向作用，这说明Fairfax相对于Meyer and Johnson股价被高估了，合适的策略是卖出Fairfax，并买入Meyer and Johnson。
