Give me a classic look. How about the little black cocktail dress? How about that navy blue suit? Got the idea? The same applies to that age-old matter of investment strategies. There are certain ones that are timeless.

For one, there is diversification, which means having a nice mix of different investments within each category, whether real estate, stocks, bonds, precious metals, etc. Actually, diversification is the primary characteristic behind most mutual funds. The idea is to cut down on what is known as portfolio volatility.

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