Diversification is prudent from "summary" of Know Your Money by
Diversification is like having a balanced meal - you don't want to put all your eggs in one basket, so to speak. By spreading your investments across different asset classes, you reduce the risk of losing everything if one area takes a hit. It's a bit like playing the field - you don't want to be too dependent on one player. Imagine if all your money was tied up in a single stock and that company suddenly went belly up. You'd be left high and dry, with nothing to show for your hard-earned cash. But if you had diversified your portfolio, that loss would be cushioned by the other investments that were still performing well.
Diversification is not about trying to hit the jackpot with one big bet. It's about playing the long ...
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