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Risk is all around us. Whether it’s the real world or the investment world we can’t escape it forever.

In this episode of Stocks In Translation, Yahoo Finance Markets and Data Editor Jared Blikre and Producer Sydnee Fried welcome back a friend of the show, Steve Sosnick, chief strategist at Interactive Brokers.

This episode’s word of the day is risk: the chance that an investment’s actual return will differ from the expected return, potentially resulting in financial loss.

While it’s true that the market generally goes “up and to the left” over time, Sosnick believes that people often “get very focused on reward” without fully understanding the associated risks. “I think when you get into an environment where things are a little frothy, people lose sight of that,” says Sosnick. “Risk is always out there. And risk has a nasty way of biting you at exactly the wrong times.”

Blikre and the team also discuss seasonality, a recurring theme in the months of September and October. When asked about his investment strategy around it, Sosnick responds, “I take into account seasonality, but I don’t I don’t trade off.”

He argues that although seasonality is part of investor psychology, it’s too inconsistent to be a reliable trading strategy. “On a month-over-month basis, it’s a little too random to really, I think, make too many heavy-duty decisions,” says Sosnick.

Twice a week, Stocks In Translation cuts through the market mayhem, noisy numbers and hyperbole to give you the information you need to make the right trade for your portfolio. You can find more episodes here, or watch on your favorite streaming service.

This post was written by John Tejada.