Well holy moly! Despite the crash in NVDA today, according to the year to date chart for NVDA and ANET, I am up more than 10% this year so far.
Not that it much matters as I have no intent to sell today. I did sell some NVDA with a planned sale to buy something else with. But it was mostly only transferring some new money that went into NVDA into something else. I did not take this into account in the year to date calculation, as it would have mitigated the NVDA losses today, but only by a little bit.
For the most part tax consequences will stop me from selling much anyways, and I cannot bring myself to sell ANET, but can bring myself to sell some Nvidia to buy something else.
Oh well, such things use to put me into an angst that would make for an unpleasant day. Now, don’t care too much. Just interested in more qualitative talk on the companies that I am interested in.
I thought NVDA’s fall today was due to drop in bit coin as a proxy for crypto currencies in general. However, nearly all semiconductors, perhaps not SWKS, took a big beating today. Have no reason why semiconductors did worse than elsewhere, but the market acts as panicked people do, in unpredictable and manic fashion.
But yes, I have expanded my horizons to holding a third again (at least for now). Not necessarily the best day to buy anything, if one did so earlier in the day but if things work out I won’t notice it at all 3 months from now.
One should panic and not take things for granted, as complacency is our enemy. But really, fundamentals are so solid some readjustment due to expected higher inflation because of finally having a self sustaining economy without quantitative easing (and literally this has been the Fed’s position for the last 8 straight years).
The market hates a strong economy, the market loves a strong economy, all depends on when you ask the market. For now it hates a strong economy.