That's a nice way to oversimplify the concept for people to understand the concept of risk mitigation and diversification.
I'd like to add a little bit more information to what Jerry has already mentioned in his article.
With overcomplicating your investment strategy, comes a lot of work - and a lot of time. Be wise to add those factors into consideration. You cannot fully micromanage a portfolio composed of over 150+ cryptocurrencies. Or worse, a portfolio comprised of 150+ different assets involving stocks, bonds, funds, etfs, real estate, commodities, precious metals and cryptocurrencies.
That will distribute the risk, spread out the loss and gains, and will take a ton of time every single day.
Things will always be different in theory, and in execution. So, reconsider.