Joe has made substantially bigger capital gains than most other
investors in the stock market during the past few years. This
means that
1. he invests in high-risk assets.
2. he is very good at finding out which
companies are well managed and which are not and is clever in
understanding market psychology.
3. he is lucky at having stumbled on an
investment strategy that has worked well during the last few
years.
4. any of the above could be true.
Choose the correct option.