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another story that's really interesting Scott I I noticed Nvidia stock they were
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talking about here on Aspen it's been on a roller coaster this week Shares are headed back up after multiple days of
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decline which cost the company it's title is the world's most valuable company NVIDIA Shares are still up over
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160% uh since January what do you think about this um I think a lot of I think a
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lot of people thought this was coming you you talked about this a lot go ahead yeah but since it's rebounded 7% it's
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not it's ups and downs aren't that interesting what's more interesting is that when it loses
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133% over the course of 3 days um it basically loses the value of MasterCard I mean if you look at the
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blast zone or Ground Zero of essentially two trillion do in incremental value creation over the last six or 12 months
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the knock on effects are so dramatic if this company this company could go down 80% and all of a sudden the NASDAQ and
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the S&P wouldn't be keeping Pace with inflation one company is now sort of as goes I mean it in it used to be the
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Magnificent 7 now it's the Magnificent one it's it's the singular Samurai Nidia so nvidia's now become the tail that's
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wagging the dog of almost everything and I'm fascinated by this thing because people just can't imagine the kind of
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value creation here and what it means when it becomes so huge that in this volatile it is I mean
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the NASDAQ is effectively the tone for the American economy right now now is going to be directly and indirectly
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dictated by the volatility of Nvidia even for example 30,000 employees 3 trillion plus market cap so you're
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talking about $100 million per person I was just I work my ass off got so lucky with L2 sold it for $160 million after
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executing almost what I felt like was perfectly having just an in incredibly lucky just finally I did something and I
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got every all the moons lined up 160 million dollar 80 people so that's $2 million per employee they've generated
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somewhere between 100 and 130 million per employee and I would bet of those 30,000 10,000 woke
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up last week and said I'm worth between 10 and 50 million doar right which what does that do to San Francisco real
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estate prices when all of a sudden what do you do when you're 29 you know that we we talked about that
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housing is way up mhm a lot of the tech companies and especially all the an open AI everybody
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coming back etc etc but when you have 10,000 people probably in their 20s 30s and 40s that all of a sudden have $10
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million in incremental wealth you got to think two-thirds of them are thinking we're either going to buy a nice home or
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a better home I mean we're either going to buy a first home or upgrade what does
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that do to housing stock I mean there's just and then what happens if this thing
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goes down 80% it could Nvidia could decide the the presidential election if the market is off 2% instead of up 14
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that is a huge talking point for for the Republicans this Nvidia has become as Nvidia goes so goes the market and the
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perception of the American economy so where is it a buy now Scott for people who are like you still can't to it this
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is literally it's it's a meme stock in a weird way in a weird this is I I tell you I track everything I get about 70 60
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meals a day from strangers and the number one question I get is regarding Young men either moms looking for advice
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or young men themselves the number two is is it too late to buy Nvidia people and what I tell them is
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look I don't know I can pin a scenario where it doubles I can see it getting cut by 50% if not 80% so this is what
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you do in my view you buy spy you buy an index fund because if you buy an index fund every dollar that goes you're
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buying 24 cents on the dollar goes to the Magnificent Seven so if those companies continue to kill it you
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participate but if the other 493 stocks have their day in the Sun and those stocks get cut in half you're still okay
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so you take some upside off the table but you save your mental health you know you're participating and the thing about
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these indexes that's so amazing is they are a screening mechanism for the best companies so so you know uh
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right so it's the best companies in the world you're investing in and they do the job of balancing and diversifying
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for you so anyway you want to invest in Nvidia thoughtfully you don't need to know whether it's going to go up or down
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buy an index fund just buy an index fund good idea