In a word..........no. I guess you would call this an urban legend stemming from the first GPS receivers that would only receive a maximum of five satellites. Now, AFAIK, all current units will receive twelve. There are around two dozen satellites circling the globe and at any given time there will be six to ten visible, albeit some of those are low on the horizon and are definitely hard to pick up in the timber. The screen shows all visible satellites and gives their location overhead so you can maneuver around a little for best reception. You only need three to get a good fix so if you lose one, you pick up another. Bottom line, acquiring and holding them is rarely a problem in the outdoors. I have a Holiday Rambler travel trailer with a rubber roof and aluminum "rafters" and it will acquire immediately when I am on the couch. It will also penetrate some wooden roofs.
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"The more I carry, the less I need."