By Emily Jordan
A personal finance guru with £200,000 ($266,400) in investments reveals his golden rule amid the Nvidia stock crash.
Olly Laight, 25, doesn’t have shares in the American technology company, but says if you are, “you should be in it for the long run.”
Shares in Nvidia crashed by 8% following the discovery of its CEO’s extramarital affair.
And following reports of a second extramarital affair, Jensen Huang has resigned – the company’s board has announced.
Despite the shares crash, Laight, an investment and personal finance content creator, was surprised to see investors abandoning their stock so quickly.
But his one rule in investing is to “not put all your eggs in one basket” – and have a diverse investment portfolio.
Laight, a manufacturing engineer from County Durham, said: “If someone’s invested in Nvidia, they should be in it for the long run.
“They shouldn’t just be in it to make a few quid.
“They have to be confident in their investments long term.”
Huang admitted an affair in an email to Nvidia employees on Nov. 8.
The affair scandal follows reports that the U.S. is investigating an alleged Chinese spy who is believed to be close to Huang.
The stock market reacted to the news, with shares falling by nearly 8% in four days.
The stock dropped to its lowest level in over a year – with its share price dipping to $160 (£120).
The ongoing allegations have wiped out an estimated $600 billion (£452 billion) from the company’s market value.
Nvidia is the world’s second-most valuable company, just beaten by Apple.
The allegations prompted a sharp reaction among investors in the technology company, which makes computer chips.
Nvidia was widely seen by investors as a more reliable stock to invest in pre-crash as they capitalized on the artificial intelligence boom.
Speaking about the share price crash, Laight said: “It’s a little bit wild out there at the minute.
“Nvidia was one of the stocks that people prospectively said ‘This is a great one to invest in.’
“Everyone thought it was doing really well.
“This just shows that you never know what will happen.
“Don’t put your eggs in one basket – in Nvidia or anything else.”
Laight tends to take a measured approach to his investing and chooses to ride out the highs and lows of his portfolio.
He does not have shares in Nvidia.
“I always believe that if you are going to invest in anything, do it long term – not just because it’s dipped down or up,” he said.
“I think about the dollar-cost average investing method.
“For me, it doesn’t matter what the share price is as I’m confident in the long-term growth.
Source: finance.yahoo.com
