And Here We Go Again – Nvidia Set To Report

We have lots of news floating around from Fed Governor Lisa Cook being fired for mortgage fraud to the government taking an equity stake in Intel to Nvidia reporting earnings after the bell today.

Let’s look at Nvidia, the largest company in the stock market, well ahead of Microsoft, Apple and Amazon. Nvidia has had quite a run since the April bottom. From the mid-$80s to $182, that an eye-popping return. I usually prefer highflying stocks to show weakness into earnings and then blowout to the upside. That’s not the case here. My initial thinking is that a move above $190 will be a selling opportunity over the coming few days.

Behavioral finance is so fascinating. Investors clamored and blindly bought the stock last summer only to get disappointed when it went from $150 to $85 in 2025. I remember people chirping me on Twitter when we sold small pieces during the various melt-ups. And then when we bought more stock during declines, people chirped yet again. Good, sound portfolio management is to prune after big rallies and plant after declines, assuming the thesis hasn’t changed. It certainly isn’t to buy high and sell low nor buy to die.

Longer-term, Nvidia has been one of those once in a generation companies that transcends investing. Is it the next Apple? Or Moderna? I don’t really know although I favor something closer to Apple. Nvidia’s hypersonic growth rates will almost certainly moderate, and sooner than later. An awful lot is baked into the price of the stock. When it dies, it won’t be easy nor quick. As always, enjoy the ride while you’re on it. Very, very few companies last.

My strategy in this stock has been to hold a core position and trade around it when the stock rallies and declines. And we will continue to do that until my thesis changes or until proven otherwise. That’s no different from what have done and will do with a whole host of other companies like Palantir, Tesla, Snowflake, Apple, Amazon, Meta, Google, Berkshire, JP Morgan, Netflix and Exxon. Some work out and some don’t. Have a plan, Follow the plan.

On Monday we bought more SSO. On Tuesday we bought more DWAS and more AAPL. We sold PCY, EMB, some SSO, some VGK and some TAN.