A quant fund boss talked his mom into selling Nvidia at 60% of its current price. She won't let him forget it.

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A quant fund boss talked his mom into selling Nvidia at 60% of its current price. She won't let him forget it.
Semiconductor giant Nvidia's stock price has soared a staggering 198% in 2023.Jeff Chiu/AP Photo
  • Quant fund chief Jason Hsu thought Nvidia's rally couldn't last any longer – so talked his mom into selling at $250 a share.
  • The chipmaker has surged another 73% since, powered higher by a surge in demand for its semiconductors.
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The head of a quant trading fund told his mom to sell her Nvidia shares when they were trading at just 60% of their current price – and hasn't heard the end of it since.

Speaking to Bloomberg's "What Goes Up" podcast last week, Rayliant Global Advisors founder and CIO Jason Hsu admitted he'd talked his mother into offloading the stock at $250.

Nvidia last traded at that level in mid-March and has climbed another 73% since, taking its total gains for the year to a staggering 198%, as of Friday's closing bell.

"I told my mom, 'Sell Nvidia, you made such a good gain.' And of course then it goes to like $450," Hsu said.

"So every time my mom sees me, she's like, 'I have an idiot for a son. Did you go to school? Did you actually go to school and get a PhD in finance? What is wrong with you?'"

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"Until Nvidia falls below $250, I'm going to be putting a hex curse on that stock," he joked.

Nvidia has been one of the biggest success stock-market success stories of 2023, with a massive AI-fueled surge in demand for its semiconductors helping it to post blowout earnings reports for both the first and second quarters.

Hsu, whose firm Rayliant manages $17 billion worth of assets, isn't alone in thinking that the chipmaker's shares may have become overvalued.

Think-tank Rebellion Research said last month that the semiconductor giant's stock price was now trading in bubble territory – and warned this year's massive rush toward AI could be a modern version of 17th-century tulip mania.

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