The 3️⃣ levels of diversification.

The biggest way to mitigate risk is really the only free lunch in finance, which is diversification. And to be properly diversified, I think there's really three levels of diversification. You have level one, which is basically your broad asset allocation, your stocks, bonds, cash.Over the past decade, we've seen a move towards alternative assets and other illquid assets as as another asset class. So, you want to be diversified amongst the asset classes. Okay.The second level of risk control uh and specific ...