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Equity portfolio risk, per the academics, can be broken down into two components. What are the two? What risk(s), if any, remains if you purchase

Equity portfolio risk, per the academics, can be broken down into two components. What are the two? What risk(s), if any, remains if you purchase 30 semiconductor technology stocks? What risk(s), if any, remains if you purchase three different stocks from each of the S&P 500s 10 sectors?

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