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Schweser Practice Exam 2: Q8-a essay

In the Entrepreneur stage, they state that the nature of the position in Tides Stock is Privately Held but the risk faced is "Both Types of Risk" as opposed to just "Specific Risk"

Is this correct?, shouldnt it be just "Specific Risk" since the company is still privately held and therefore not subject to market fluctuations that public stocks are?

^Ya that one got me too.

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