Evil Diaries: Invidious Nvidia

A friend, Jack Eliasch, a young man with a careful manner when assessing investments, draws my attention to Grant’s Interest Rate Observer for 2nd June 2023. Here the commentary covers Nvidia (NVDA on Nasdaq), now at $427 and capitalised at around one trillion dollars.

This is an entirely insane rating which must surely come under pressure. However, and as Crispin Odey has pointed out to me, the onset of reality may take some time.

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I mentioned Tingo (TIO) last week. It did not go down on Friday last since there is this colossal short position which needs to get sorted out. Once it is, TIO goes to zero. The quote will presumably be suspended imminently.

Incidentally, although I highlighted that Deloittes have been implicated it is quite possible that they never went anywhere near the books of TIO and that the accounts as published are entirely a fabrication by the management who can also type Deloittes. After all I can.

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The weather for Ascot is uncertain. I am therefore holding back until the position is much clearer.