Abstract
Extracted from text ... Number 46- Part 4 MA Neu-Ner and C Firer The benefits of diversification on the JSE Introduction A fundamental cornerstone of investment theory is the principle of diversification. Risks inherent in an investment are often described as being made up of those risks which are common to all assets, and thus cannot be diversified (systematic or market risk) and those which are unique to the asset, and can thus be eliminated by diversification (firm-specific or non-diversifiable risk). As portfolio size increases, so the risk of the portfolio falls due to elimination of firm-specific risk. Of importance to investors is the ..
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