No doupt but a blanket statement like that wont cover all situations. If my brother for instance who has no stock investments finally moves on kxl would have 100% in it and say $2000. (as many starting out)
It would also be foolish to buy 10 different stocks at 25 buck trading fees and try to make any money.
HE could be advised however to buy say Lundin (less risky)or a Bank.
jmo