📚 About Concentration Risk

• Safe Zone (0-15%): Well-diversified, minimal company-specific risk
• Watch Zone (15-20%): Monitor closely, be ready to trim if fundamentals weaken
• Danger Zone (20%+): Too concentrated, one company's problem becomes your problem

At age 48 with 17 years to retirement, you can handle some concentration in high-conviction positions, but individual stocks should rarely exceed 15% of portfolio value.