Diversify your investments to mitigate risk from "summary" of The Millionaire Next Door by Thomas J. Stanley,William D. Danko
The best approach to investing is to spread your money across a variety of assets. This strategy is often referred to as diversification. By diversifying your investments, you are essentially spreading your risk. If one particular investment underperforms, the impact on your overall portfolio is minimized because you have other investments that may be doing well.
Diversification is a way to protect yourself from the volatility of the market. It helps to ensure that you are not overly exposed to the risks associated with any single investment. For example, if you have all your money invested in...
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