问题如下：
John C. Hill, sole owner of JCH Equipment Leasing Co. (JCH), is evaluating a future sale of his company and approaches Mary Keller, a wealth adviser, for advice.
Statement 1:
Hill: I would like to sell JCH in three to five years and use the proceeds to fund my retirement. Up to this point. I have reinvested the majority of the profits back into the business and have not accumulated any meaningful wealth outside the business.
Keller: The first thing we need to consider is the cyclical nature of the equipment leasing industry. Although the economy is expending today, the stage of the business cycle three years from now is uncertain.
Identify what type of investment risk is being discussed by Hill and Keller (systematic or non-systematic) . Justify the choice.
选项： 解释：
Discussion 1 best describes systematic risk.
Systematic risk is the component of risk that cannot be eliminated by holding a well-diversified portfolio. Systematic risk includes macroeconomic factors such as unexpected changes in the level of real business activity and unexpected changes in the inflation rate. Given the cyclical nature of the equipment leasing business and 3 to 5 year target horizon to sell the company, Hill's concentrated position in JCH is exposed systematic risk.
他们要考虑的是cyclical nature of the equipment leasing industry，也就是行业的情况。行业在三年以后的情况不确定，而经济目前是扩张的。那这样说的就是行业存在的风险。经济扩张，而这个行业不景气，那就可以通过分散化来降低风险，应该是非系统性风险呀？
