In view of Lehman Brothers' bankruptcy, I told my client to check with his banker how much his current MiniBond is worth. My client told me that his MiniBond is now only worth 60% of its par value. To me the losses of this MiniBond is not much different in investing in equity markets. Many people who bought the MiniBond thought that the Minibond is quite "safe." Unfortunately its complicated prospectus make it very difficult to understand the true risk of the bond. Actually, even if it was a plain vanila bond, it will also suffer similar losses since Lehman Brothers has collapsed. The lesson is: (1) If the product is too complicated, don't buy it (2) If the product is simple (like a plain vania bond) don't buy one only. Ensure the investment purchases a basket for diversification purpose. (3) don't trust advisers or bankers with a gift of a gap.