Diversification helps mitigate risk from "summary" of How to Make Money in Stocks Success Stories: New and Advanced Investors Share Their Winning Secrets by Amy Smith
Diversification is a key strategy in managing risk when it comes to investing. By spreading your investments across different asset classes, industries, and geographic regions, you can protect yourself from the potential downturn of any single investment. This way, if one sector or market performs poorly, your overall portfolio won't be as heavily impacted.
Think of it like spreading your bets at a casino - you wouldn't want to put all your money on a single number on the roulette wheel, as you'd have a higher chance of losing everything. Instead, you'd place your bets on different numbers to increase your chances of winning. The same principle applies to investing - by diversifying your portfolio, you can increase your chances of success and reduc...
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