The Beta coefficients of GXY and ANZ are 0.19 and 0.88 respectively.

28-year-old Tony notes the recent surge in GXY share price, due to the expected shift to electric vehicles. He also likes the stability of ANZ. He tells you, his financial advisor, that 'I would like to put all my money into GXY and ANZ, because I believe electric vehicles are the future, and that ANZ is too big to fail. There is no point leaving money in my savings account or other assets. I believe I will outperform the market in the long run with these two shares.' Do you agree with his statement? Why or why not? In your answer, you must discuss diversification, different components of risk, and reference the beta values from above.