As Nvidia Corp. found itself the target of a deep selloff earlier this year, Impax Asset Management was quietly seizing the moment to build a stake it had long regretted not owning.
Allan Small, senior investment advisor of IA Private Wealth, joins BNN Bloomberg to share insights on how to approach investing in Nvidia, and Eli Lilly.
“We just underestimated the market potential of their product,” Simm said in an interview. Impax had been looking for a way in, but Nvidia “was expensive.” That is, “until it had a selloff.” Over the past couple of years, a spike in interest rates, an energy crisis and the ascent of the so-called Magnificent Seven of technology behemoths have turned green investing into a losing bet. Impax’s own share price is down almost 30% this year, while the S&P Global Clean Energy Index has lost more than 10%. The S&P 500, meanwhile, is up more than 20% in the same period.
“Frankly, we’ve underperformed for the last couple of years in our main strategies because we’ve been more growth-at-a-reasonable-price, staying away from the momentum and hype around mega-cap tech investing,” he said.
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