单选题 Compared to investors with long investment time horizons, investors with short investment time horizons most likely require: A. Less liquidity and less emphasis on capital appreciation. B. Less liquidity and greater emphasis on capital appreciation. C. More liquidity and less emphasis on capital appreciation.

【正确答案】 C

【答案解析】Investors with short time horizons generally have a greater need for liquidity and lower risk tolerance because they have less time to recover form any performance shortfalls. Capital appreciation is an aggressive strategy that would not be appropriate.