I believe it’s best to hold no more than five stocks in a portfolio.
The reason is simple.
The more stocks you own, the more your focus is scattered—and the shallower your analysis becomes.
Ultimately, what matters in investing isn’t the number of stocks but the conviction behind each one. Real investing begins with deep analysis and the confidence to act on it.
Back in July, I added IREN to my portfolio at around $17. I held it until just recently—and then sold.
The result was a gain of over 160%.
While the return alone is impressive, what makes this experience more meaningful is the way it reaffirmed the core principles of investing.
Why I Invested in IREN
IREN is a company based on mining and selling Bitcoin. Many dismiss such businesses as mere speculative bets tied to crypto price movements.
But I saw it differently.
I reviewed its financials, mining cost structure, and long-term growth potential step by step—and discovered investment-worthy value.
That’s why I wasn’t shaken during short-term price swings.
When intrinsic value is clear, market noise is just that—noise. I held on patiently, and the eventual reward far exceeded expectations.
This experience reinforced the idea that investing is, at its core, a battle over conviction in value.
Strengths and Limits of Concentrated Investing
Holding a small number of high-conviction stocks has many advantages.
You can understand the businesses more deeply and filter out market noise.
More importantly, when you have conviction, you’re less likely to react emotionally to short-term volatility. I believe this is the greatest strength of concentrated investing.
Of course, there are risks.
If one stock falters, it can affect the entire portfolio. But risk isn’t something to avoid—it’s something to manage.
If you’ve done the work and built conviction, concentrated investing can lead to greater returns.
This IREN case is a great example of that.
Investor Mindset and Transformative Experience
I believe many investors made meaningful profits through IREN.
More than that, they likely experienced a shift in mindset—realizing what investing based on valuation and conviction can truly achieve.
Investing isn’t about luck. It’s about mindset.
It’s about continuously studying and analyzing. It’s about buying with conviction. It’s about holding firm during volatility. And it’s about selling decisively when the time is right.
When these four attitudes come together, meaningful results follow.
I believe this experience left a valuable lesson for many.
Conclusion — This Is What Investing Looks Like
Find a great company. Buy when the market undervalues it. Wait patiently as the company grows into its fair value.
And when the time comes, act decisively.
This is the mindset every investor should have.
In my view, the IREN case clearly demonstrated this principle.
To those who secured profits—I applaud you.
This experience is not just about numbers. It can serve as a guiding benchmark for future investments.
This is what investing looks like.
The Valuation : Value Investing Through Valuation 
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