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Once in a while, Jim Cramer likes to take a step back and provide his advice on diversification for investor portfolios.
"Diversification is the only free lunch. If you have overindulged in one particular sector of the market, then all of your money might go down the drain," the "Mad Money" host said.
That is why Cramer asks his favorite fans to call and Tweet their top five holdings in their portfolio, so he can assess them and provide guidance on building a diversified portfolio.
While Cramer's charitable trust owns Pay Pal, he thought that Visa had better earnings. But the real problem with these two stocks is that they are both credit companies, though they transact on different platforms.
He recommended that the investor ditch either Visa or Pay Pal from the portfolio. He considers Visa to be more established, but Pay Pal is a high-growth company; it's owner's choice.
The second portfolio Cramer analyzed consisted of Facebook, Amazon, Netflix, Gilead and Starbucks. Cramer noted that while many investors would say that Facebook and Amazon are the same, they are not. Amazon is a retailer, and Facebook is a social/mobile/cloud play.
Read more from Mad Money with Jim Cramer
"You could say they all trade together, but they really don't. It's just that they happen to be trading up right now," Cramer said.
So, while these stocks do often trade together, Cramer did bless the portfolio as being diversified since it covered five different industries: restaurant, entertainment, retail, drugs and social Internet.
But the No. 1 kiss of death for a portfolio according to Cramer, was to own two oil companies. He advised that in this current environment, two oil companies will absolutely ruin a portfolio.