How to face greater risk?

After "Brexit", people feel that there is a greater risk ahead. How do we deal with greater risks? There is a definitely wrong way to deal with risks. Sometimes people find that the returns in different states of their investment stay the same but the risk increases. Taking higher risks should award with higher returns. When your risk increases, you should either lower your risk or try to increase the expected returns in more risky states. After the referendum, people could lower their risk by buying insurance securities. People may increase their returns by betting on the probability of a financial crisis, like what Soros is doing. It is also okay to bet against such state by increasing holding of some "undervalued" securities.