Because securities investment has the advantages of dispersion and liquidity. The first type of securities investment has the advantage of decentralization. By purchasing various types of securities products, investors can spread their funds in different industries and companies, reducing the risk of a single company or industry. The loan is mainly concentrated on one borrower. If the borrower defaults, investors will face great risks. Secondly, securities investment has a liquidity advantage. Securities products in the securities market can be bought and sold at any time in the market, and the liquidity is relatively high. Investors can sell securities products at any time to obtain funds or hedge. The liquidity of loans is poor, and investors can't recover funds at any time. Compared with loans, securities investment has the advantages of dispersion and liquidity, so its risk is relatively small. Securities investment and loan are two main ways of financial market, but their risks are different. Securities investment includes buying stocks, bonds, funds and other securities products, while loans refer to borrowing funds and charging certain interest.