[Investment jokes]What is going on with risk hedging and portfolio returns?A simple old lady walked into the bank with a backpack and wanted to deposit 500,000 US dollars. The president received her in the VIP room.CEO: Your life savings?Old lady: Where? I gamble for a living, and I always win when I gamble. I just won!President: "Impossible!"Old lady: "Then take a bet. A triangular birthmark will appear on your butt tomorrow morning. The bet is only 500,000!"The CEO was hesitant, looked at a bag of cash, and decided to bet.After the old lady left, the CEO went home and checked in the mirror several times. There was no birthmark. He stayed in the VIP room until the appointed time the next day.The old lady arrived early, and a well-dressed lawyer stood next to her.Old lady: Today the lawyer will testify and check your butt.CEO: "There are really no birthmarks, let alone a triangular one." Then take off your pants and let them check your butt...The old lady looked at it and said, "Sure enough, I lost."At this time, the lawyer's face turned pale and he kept banging his head against the wall. The CEO was shocked. Lawyer: "She just bet me 1.5 million that you will take off your pants in front of her and let her see your butt!"This joke is actually called "risk hedging" in the financial circle. It plays an important role in the investment portfolio. When making investments, we cannot only focus on the performance of a single asset and ignore the correlation between assets. Sometimes the loss of one asset will in turn lead to the gain of another asset.Looking at the big picture, the entire portfolio is profitable. Always remember that the return of the portfolio is our ultimate goal, consider the correlation of assets and do hedging.

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