There is no one size fits all kind of answer to portfolio allocation strategies. First you have to understand what kind of investor you are and then go ahead. For concentrated investors, anywhere between 5-15 is a good number of stocks to have.
Next is if you are a good stock picker ready to do a lot of research and scuttlebutt, you can allocate higher amounts to small caps and micro caps, provided conviction and valuation parameters converge. At a very young age, if your capital is small, then you can take a little bit of higher risk with these names with an aim to the take portfolio to a decent size. This kind of logic worked for me in my early investing days.
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