The beginning of August was NOT good but came back somewhat over the last part of the month. I haven’t been making many moves lately but August ended up being one with some changes.
YTD: 35.45%
Transactions:
The biggest change I made was increasing my allocation in NVDA. In the process, I sold out of BILL & Sentinel One. I also upped my Crowdstrike position and iniated a tiny Confluent position.
First week of month
Trimmed tiny bit off all other positions to add to NVDA position
8/16
Sold $BILL after earnings (2% loss), put the money into $NVDA & opened small position in $CFLT
8/21
$S popped after buyout potential rumors, sold half the position, put it into $CRWD & NVDA
8/23
After NVDA earnings, sold the rest of my Sentinel One and put it all into NVDA.
Nvidia:
I’m convinced that Nvidia is set up for much more growth than they’ve already displayed. I think there will be a new normal as far as GPUs to support AI but its going to be much much higher than today’s. I also believe that GPUs will replace a lot of the hardware currently in datacenters.
Their lead in this space is enormous. If they dominate this initial AI entry phase then their software becomes a big differentiator when/if competitors do get to a closer to even level.