That is actually a rephrase of a famous quote by Charles R. Schwab. The truth of the matter is that prudent investors will always look to take on some risk and avoiding risk is not the best approach all the time.
Reducing risk in a portfolio actually requires a lot of time. Diversification is the way to go and constant homework about the investments that you have already made is also very necessary. But risk can be your friend and this is especially true for a young investor like me as opposed to someone who is about to retire.