RUSH TRANSCRIPT Can the ░░░░░░░░ learn to live without ░░░░░░░░ Street s AI darling ░░░░░░░░ it doesn t reverse ░░░░░░░░ head back higher It ░░░░░░░░ easily do that Let ░░░░░░░░ talk about it with ░░░░░░░░ leadoff market panel tonight ░░░░░░░░ us now is Wall ░░░░░░░░ lead writer and wealth ░░░░░░░░ executive vp and CNBC ░░░░░░░░ Also the author of ░░░░░░░░ independence does not happen ░░░░░░░░ accident Nvidia went down ░░░░░░░░ today Take us inside ░░░░░░░░ Wall Street Journal Was ░░░░░░░░ full panic hair on ░░░░░░░░ fire alarms going off ░░░░░░░░ screaming Is this allowed ░░░░░░░░ go down I ve ░░░░░░░░ to say it was ░░░░░░░░ all doom and gloom ░░░░░░░░ The Wall Street Journal ░░░░░░░░ was at a dinner ░░░░░░░░ last week and the ░░░░░░░░ of friends family members ░░░░░░░░ strangers who brought up ░░░░░░░░ video their portfolio what ░░░░░░░░ position they had should ░░░░░░░░ buy more that was ░░░░░░░░ things are getting really ░░░░░░░░ out there I think ░░░░░░░░ makes sense right now ░░░░░░░░ we are seeing is ░░░░░░░░ market doesn t necessarily ░░░░░░░░ nvidia at least not ░░░░░░░░ Remind yourself that you ░░░░░░░░ got to reconvene that ░░░░░░░░ dinner party in a ░░░░░░░░ weeks and be like ░░░░░░░░ called a top Malcolm ░░░░░░░░ m sure your clients ░░░░░░░░ calling you as well ░░░░░░░░ the way people understand ░░░░░░░░ context of what happened ░░░░░░░░ comes from nvidia gained ░░░░░░░░ in value in a ░░░░░░░░ than Warren Buffett s ░░░░░░░░ hathaway game over its ░░░░░░░░ existence One year Are ░░░░░░░░ surprised by nvidia s ░░░░░░░░ reversal I am and ░░░░░░░░ m not For one ░░░░░░░░ this is why we ░░░░░░░░ wealth managers and professionals ░░░░░░░░ general are constantly reminding ░░░░░░░░ that nobody ever went ░░░░░░░░ taking a profit In ░░░░░░░░ like this where the ░░░░░░░░ goes against us if ░░░░░░░░ have been in the ░░░░░░░░ of converting some paper ░░░░░░░░ into cash along the ░░░░░░░░ you probably aren t ░░░░░░░░ affected by this as ░░░░░░░░ who may be bought ░░░░░░░░ after the stock split ░░░░░░░░ they were outsmarting everybody ░░░░░░░░ To your point I ░░░░░░░░ it s important in ░░░░░░░░ to understand what size ░░░░░░░░ position should represent in ░░░░░░░░ portfolio It s obviously ░░░░░░░░ too far over inside ░░░░░░░░ S P 500 specifically ░░░░░░░░ I guarantee and a ░░░░░░░░ of home gainers portfolio ░░░░░░░░ now nvidia represents way ░░░░░░░░ large a position You ░░░░░░░░ do have quite a ░░░░░░░░ people hitting the panic ░░░░░░░░ on edge right now ░░░░░░░░ whether they should be ░░░░░░░░ I ll go back ░░░░░░░░ you on that What ░░░░░░░░ your recommendation if you ░░░░░░░░ owned it for a ░░░░░░░░ made a fortune bought ░░░░░░░░ helicopter or whatever you ░░░░░░░░ No stock can or ░░░░░░░░ go up forever Over ░░░░░░░░ it might but you ░░░░░░░░ what I mean Not ░░░░░░░░ single day It just ░░░░░░░░ happen It s not ░░░░░░░░ if it did In ░░░░░░░░ book that you mentioned ░░░░░░░░ the top one of ░░░░░░░░ key focuses is understanding ░░░░░░░░ difference between speculating and ░░░░░░░░ and that that you ░░░░░░░░ a rep is the ░░░░░░░░ Whether you are investing ░░░░░░░░ the long term and ░░░░░░░░ you are trying to ░░░░░░░░ these to work to ░░░░░░░░ a long term goal ░░░░░░░░ this is the equivalent ░░░░░░░░ draftkings for you If ░░░░░░░░ answer is the former ░░░░░░░░ you probably want to ░░░░░░░░ way more diversified than ░░░░░░░░ one company powering the ░░░░░░░░ market I m okay ░░░░░░░░ an investor with nvidia ░░░░░░░░ a breather as the ░░░░░░░░ has done a third ░░░░░░░░ the work so far ░░░░░░░░ the entire S P ░░░░░░░░ I also do not ░░░░░░░░ shares of nvidia directly ░░░░░░░░ because I own so ░░░░░░░░ of the index I ░░░░░░░░ already exposed to this ░░░░░░░░ feel comfortable with it ░░░░░░░░ a breather and allowing ░░░░░░░░ companies powering the AI ░░░░░░░░ race as well to ░░░░░░░░ to do some of ░░░░░░░░ work and take their ░░░░░░░░ in the sun It ░░░░░░░░ I guess like good ░░░░░░░░ that even though nvidia ░░░░░░░░ down the S P ░░░░░░░░ and NASDAQ has a ░░░░░░░░ bit but the S ░░░░░░░░ 500 has not I ░░░░░░░░ we have to take ░░░░░░░░ little solace in that ░░░░░░░░ energy sector had its ░░░░░░░░ day of the year ░░░░░░░░ is the most sensitive ░░░░░░░░ the economy That was ░░░░░░░░ even when NASDAQ was ░░░░░░░░ It s a nine ░░░░░░░░ of 11 of the ░░░░░░░░ P 500 sectors not ░░░░░░░░ This wasn t very ░░░░░░░░ focused decline It is ░░░░░░░░ news for the rest ░░░░░░░░ the market we saw ░░░░░░░░ other corners of the ░░░░░░░░ hold their own today ░░░░░░░░ think it ll be ░░░░░░░░ to see how that ░░░░░░░░ out in trading tomorrow ░░░░░░░░ we get inflation data ░░░░░░░░ day it s something ░░░░░░░░ that is why we ░░░░░░░░ here and you are ░░░░░░░░ We appreciate your views ░░░░░░░░ banerji Malcolm Ethridge thank ░░░░░░░░ You know it takes ░░░░░░░░ lot of to make ░░░░░░░░ centers run As energy ░░░░░░░░ up cost goes up