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The Lone Wolf

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AUTHOR: steve abramowitz on 6/21/2024

In recent weeks, I’ve been asked by several friends if and by how much am I invested in NVDIA. Well, overall I have about a 5% position, similar to that of the broadest market index funds. The typical response is, “Is that all? Why not more?” Many of them have devoted anywhere from 20-50% of their savings to the stock and are blithely delighting in their wisdom. Of course, the answer depends on very many factors—age, risk-tolerance and capacity and so forth —but I always advocate the virtues of diversification and warn of the extreme risk they are taking with their money.

But for many people, that word doesn’t have the pinache of a tech stock wildly promoted on CNBC and the 6 :00 news. They have the sense they have (finally) found the road to easy riches and are bouyed by their knowledge that they are more than keeping up with their insufferable neighbor Mr. Jones.

A few are incredulous at my refusal to share in their excitement and I think hastily revise their opinion of my market savvy. At this point I am lost. Do I heatedly persist? And how do I know my obvious contempt is not somehow rooted in my envy of their lucky short-term windfall or even eventual complete financial makeover?

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