I had an unsettling experience earlier in the summer about my stock commentary. A friend, a great and well meaning friend, came roaring up to me at a party and told me that he had figured out why they hated me so much. I was hated, he said, by Nvidia (NVDA). Now, I don’t like being hated or being told that they hate me in an environment among friends. It was hard enough learning once at a cocktail party from a man running Twitter at the time that I was in the top ten most hated people on the platform. It was a strong horse race between Putin and me. Thank goodness for Meta Platforms (META) threads. But what really got me down was that my friend said they hated me because while he was saying I liked Nvidia, he was supposedly telling people to shorten it. Oh! Well, first of all, I can’t wear shorts and I never recommend shorts. Second, it was clear that the knowledge of my work was secondhand, perhaps from one of those weird people who make ETFs for a living to bet against me. I call Jensen Huang, the CEO and founder of Nvidia, Leonardo da Vinci. You don’t bet against da Vinci. However, one of the most difficult aspects of running the Club in a business that is anything but static is that I can make statements that give the appearance, to the uninformed or biased commentator, that I don’t like a stock when it is all contrary. I am very easy to criticize, take out of context and ridicule for things I do not say or do. NVDA mountain 2016-04-01 Nvidia (NVDA) stock performance since April 2016. I know, for example, that I said “own Nvidia, don’t trade it” before their recent blowout. But when asked if I would buy it just before it reported its last quarter, my answer was twofold. I said I really like the shares and we own them for the Trust, but if you don’t already own them, you might as well wait and see if you can get a better price. I wanted to be prudent, not reckless, because in the long run prudence always wins. Did you want to keep people out of Nvidia? No. I just don’t like playing a headshot game around a room. I think it was obvious to anyone who watches our shows or reads our newsletters that I would never say it’s short. But I’m not going to tell people to buy it the day before the quarterly results. I’d rather say I own it, but it’s up to you to pull the trigger before quarter. Did you know that the quarter would include the highest forecast pace in recent memory? No. Should I have? No. I just like Nvidia and didn’t want anyone to get hurt if the quarter didn’t shine. However, if someone didn’t buy Nvidia because of me, let me say that I have street cred with this company. I suggested that people buy these stocks for $430 a share when it was at $40. Well, I got it off my chest. (Jim Cramer’s Charitable Trust is long NVDA, META. See here for a full list of shares.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable foundation’s portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTMENT CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY, TOGETHER WITH OUR WAIVER. NO LIABILITY OR FIDUCIARY DUTY SHALL EXIST OR BE CREATED BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTMENT CLUB. NO SPECIFIC RESULT OR BENEFIT IS GUARANTEED.
Jakub Porzyk | Nurfoto | fake images
I had an unsettling experience earlier in the summer about my stock commentary.
