On June 1st, nine shares of NVIDIA Corporation (NVDA) were purchased for $396.42 each, totaling $3,567.76 in stock. $1.29 in cash was left over equaling a grand total of $3,569.05. Yesterday, July 31st, the shares closed at $467.29 for a total value of $4,205.61. Combined with the $1.29 cash, the portfolio is worth $4,206.90 as July closes. On August 1, 2022, I started with $2,005. So this strategy has returned a beautiful 110 percent in one year more than doubling my money. See the following table listing the stocks I traded each month to achieve this stellar performance.
Meanwhile, the benchmark S&P 500 exchange-traded index fund, SPY, has returned a modest 13 percent over the same period. This includes dividends. We left the SPY in the dust as illustrated by the following chart.
Nvidia is Still On Top
Over the last six months, Nvidia, Meta Platforms, Inc., and Tesla Inc. are the top three performing stocks of the S&P 100 index. In other words, these stocks have returned the most this year amongst large capitalization companies. NVDA is up 123 percent, META 108 percent and TSLA 48 percent.
Remember, stocks were down a lot last year. This year some have rebounded. 2023’s bull market has been lead by several large cap tech stocks, dubbed The Magnificent Seven by commentators on CNBC and other financial media. NVDA, META and TSLA are three of The Magnificent Seven.
Upping My Bet for the Next Twelve Months
Over the last twenty-seven months, this strategy has consistently outperformed the S&P 500 as documented in these posts. Therefore, I will be allocating $5,000 for the next twelve months meaning I will add one share of NVDA bringing my total position to ten shares and will add approximately $325 to my cash balance for this strategy.