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Nvidia Has ‘Central Bank-Like Power’ In Modern Markets
Earlier this month, I described the size (and, by extension, the index influence) of Nvidia's daily market-cap swings as "farce."
It was an apt description. By now, a history of the largest single-session value creation bonanzas and biggest one-day wipeouts is just the record of Nvidia ca. 2023/2024.
At various intervals since May of 2023 -- when the company changed the world with what it's probably fair to call the most famous beat and raise in history -- market observers have joked that the
NVDA still 10+% below ATH… I wanted 200 by Christmas for some really epic bonus…
I sold 90% of my Nvidia position at $120. It was really starting to feel “unhinged”. The ride was amazing, but I am trying to be a responsible adult, so I locked in gains (thankfully that position was all in an IRA- I hate paying taxes).
And I still get a little “thrill” from my remaining position.
A few years ago, before anyone cared about NVDA and all this associated junk, I bought the stock for less than $100 and watched it climb to around $550 and stall a bit. I only had 100 shares (pre-split, of course) so I sold and spread the money around. They were still a “chip” company not an “AI” giant. We all make mistakes.