Constructing a Portfolio on Your Highest Conviction Idea More Stocks Doesn’t Necessarily Mean More Money

Too Much or Too Less: Owning Just Enough Stocks

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What works for us is between 10 and 20 positions. Owning more than 20 stocks, it’s too hard to follow the companies very closely, and a big winner won’t move the needle enough. I’m uncomfortable with the risk of owning fewer than 10, because we live in a dynamic world and you do make mistakes. I don’t want to make a mistake in a 15% position.
Source: http://www.valueinvestorinsight.com/

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