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The real meaning of diversification in investing

In the world of investing, we’ve all heard the phrase, “Don’t put all your eggs in one basket.” It’s solid advice that emphasizes the importance of diversifying your investments. Unfortunately, some people misinterpret this wisdom to mean they should avoid consolidating their investment accounts and keep their money spread across multiple financial institutions, often working with several different financial advisors.  However, when financial professionals talk about diversification, they’re referring to