Revista Română de Statistică Trim. III/2013 - Supliment 68 Specific Concept for the Financial Instruments Portfolios Professor Gabriela Victoria ANGHELACHE, Ph.D. Academy of Economic Studies Bucharest Professor Radu Titus MARINESCU, Ph.D „Artifex” University of Bucharest Lecturer Mădălina Gabriela ANGHEL, Ph.D. „Artifex” University of Bucharest Abstract Starting with the second half of the previous century the financial markets became a basic component of the word economic system. To notice the fact that, during the mentioned period, the value and the complexity of the transactions involving financial instruments kept on increasing, the financial investment becoming an independent activity. This appeal is generated to a large extet by the value of the gains which may be achieved on the capital market. Key words: the risk of the legislation changes; the optimal risk of the investment; the business risk; the liquidity risk; the credit risk. The evaluation of the transactions with financial instruments implies a thorough analysis of the existing connection between the potential gains and the relating risk to a capital investment. Thus, both the theoretical works and the empirical activity are stressing out the maximization of the profit function under the conditions of minimizing the risks related to the analyzed transactions. Any potential investor intending to act on the capital market must be informed on the fact that its activity is subjects to risks, synthetized as follows: The risk of legislation changes which is specific to the states on their way to transition and which refers to the changes on the normative regulations, mainly as far as the financial market is concerned; The optimal risk of the investment (specific risk) occurring in the moment the investment is actually done;