How Many Companies Should A Person Own in Their Portfolio

[Music] there are five large Canadian banks in this country do you need to own all five even if you felt all five Canadian Banks were great companies at good prices does it make sense to own all five banks the answer the short answer is no by the way Studies have shown when you own two Banks that's more than enough another simple example let's say you feel 35 companies is the right answer to be a properly Diversified company so you say this company let's Proctor and Gamble they're selling you know toilet paper and and paper towels and then I buy Pepsi they're selling you know Quaker and Tropicana Min whatever so you think you're Diversified but if you actually do the research into the company you find out for example all 35 of your companies let's say have Amazon or Walmart as their biggest customer so you think you're Diversified but if you actually do your research you're actually not Diversified at all because if something happens to Walmart your entire portfolio is going to fall over