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There is a common concept in the financial industry, both for personal and institutional investing, that a balanced, diversified portfolio is the smartest way to

There is a common concept in the financial industry, both for personal and institutional investing, that a balanced, diversified portfolio is the smartest way to shield oneself from the risks of investing. Using probabilities and risk example calculations, explain why market diversification is a myth. Use specific examples from 2008 in which the entire market declined when only a small number of companies were at high risk.

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