For example, two examples:

The first example is investment in different markets. For example, an investor puts most of his money in a bank deposit, part of it is used to buy goods, part of it is used to do P2P, part of it is used to buy stocks, and part of it is used to speculate in futures. These targets have different risk levels and are decentralized to avoid risks.

The second example is in the same market. For example, an investor is trading stocks. He didn't know which stock would go up or down, so he bought several stocks. Then the risks of these stocks are different, so diversify your investment to avoid risks.

But is this really the case? Obviously not. Diversification means diversification, and diversification means diversification. The diversification of investment risk is based on the premise that you can measure the risk of each investment product or the risk of different investment targets in the same market. Not just diversity.

The premise of risk diversification is to have expected returns. We know that the benefits of financial management are directly proportional to the risks taken. Therefore, everyone must have expected income before they can decide how much risk they have to bear. With the expected return, the next problem is the measurement of risk. This is very important. Because you want to complete the expected income with the lowest risk as much as possible. Therefore, you must know how much risk you have invested in these targets.

Measuring the risk of investment target is definitely a professional behavior, so "many people think" this topic is right, but not many people can do it. If the risk cannot be measured, then the definition of the greater risk of financial assets is very vague, and naturally it is impossible to avoid the risk well.

So let's go back to the previous two examples.

The first example is investment in different markets. In the past two years, many investors have been practicing this investment method, but the misunderstanding is that P2P is risk-free. As a result, many platforms lost their money, resulting in loss of principal. This is a typical risk measurement error, and P2P is classified as risk-free financial management. There is no way to identify the risk of the investment target.

The second example is the same market. Before 5000 points in the stock market, stocks were very hot. Most investors actually hold more than one stock, and some even have dozens of tickets, because they are afraid that one poor performance will affect their earnings. But when the stock market plummeted, this risk was obviously not dispersed. This is because systemic risk cannot be avoided by risk dispersion in a unified market. Of course, most people will not buy a lot of stocks because of the scattered risks and the unorganized layout of the sector, but they are afraid that some stocks will not perform well or follow the crowd, and the stocks they hold have no risk hedging effect.

So, there are several conclusions about eggs and baskets:

1, systemic risk is not avoidable, and it is also mentioned in investment science.

2. Professional people do professional things, and understanding theory and social practice are two different things. Risk diversification is a very professional problem, and the requirements from risk measurement, asset allocation to operation are very strict.

3. The popularization and application of this theory are very different, because even a professional person has a high probability of problems. This is not a single problem in China market, but a problem all over the world.

4. The professional ability that can be achieved is extremely strong.

So choose one