To elaborate further, I consider myself a value investor, and I do this spreading risk around thing as well: the same thing that increases your expected profit (buying only undervalued companies) can reduce your risk of loss across your portfolio when you have a few different investments. Diversification has limits and my argument for concentration is that sometimes we need to sacrifice the short term and hold onto our butts to commit to something really good. It only takes about 5 good investments, plus or minus a couple, to have a well-rounded portfolio. Or with Bitcoin, 4 good investments plus Bitcoin as your savings. Cash reserves or credit lines if you need it to cover short term expenses and what have you. Most of all, be investing in self improvement and security, but that goes without saying, that's all we nostridges talk about lol!
Discussion
I also try to take the value investor approach but I also go for quick grabs sometimes, not say trading per se but accumulate companies when they’re undervalued.
These are what I’m in right now. 
Neat! Well the way to perform well is to know what you are in. If you have the time to put a decent amount of work into valuing these companies, getting a good sense of where they're probably heading, that's still a good way to go. It might also be a good way to get some experience and data, some greater understanding, by seeing what happens with these companies. I would caution against spreading your portfolio too thin in terms of what you can understand and keep track of, and what is the best set of bets.