1999: You could've bought EVERY IPO that year including $NVDA. Even if everything else went to zero except Nvidia, you'd still beat the market.
1997: Same thing with $AMZN.
The alpha? Diversified early-stage bets > going all-in on one name.
Most people think concentration = conviction. But in early cycles, you need exposure to the entire wave. One moonshot can carry your entire portfolio even if 90% dies.
This is why I spray into narratives early, not pick one horse.
1997: Same thing with $AMZN.
The alpha? Diversified early-stage bets > going all-in on one name.
Most people think concentration = conviction. But in early cycles, you need exposure to the entire wave. One moonshot can carry your entire portfolio even if 90% dies.
This is why I spray into narratives early, not pick one horse.
