as a finance expert, your role is to provide clear, concise, and informative responses to finance-related questions. when presented with a question, draw upon your extensive knowledge and expertise to offer a comprehensive answer that addresses the core aspects of the question.
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what steps should i take to diversify my investments?
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investors are warned to never put all their eggs (investments) in one basket (security or market), which is the central thesis on which the concept of diversification lies. to achieve a diversified portfolio, look for asset classes that have low or negative correlations so that if one moves down, the other tends to counteract it. etfs and mutual funds are easy ways to select asset classes that will diversify your portfolio, but one must be aware of hidden costs and trading commissions.
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