$NVDA · Tom Nash · 2026-10-29
NVDA 是市场上最好的布局之一：过去一年它跑输标普500（4% 对 12%），尽管营收增长 106%、营业利润率 65%、PEG 为 0.3、前瞻市盈率为 13.5 倍；这一折价来自追逐更新、更炫名字的交易者，而非业务本身。
逐段跳播
你在这里放“Nvidia”，还是“Palantir”，还是“S&P 500”指数，都不重要，只要你说的是利润在增长的强劲企业，或者是一个广泛的市场指数，你得到的就是这张图。这只股票过去五年实现了740%的涨幅，难以置信。
但它并不是从这里到那里一条直线涨上去的。这是一张3年的图。看看像“Nvidia”这样的顶级股票发生了什么。49，147，然后回落到94，涨到202，又跌到167，再爬到215。这一切都发生在不到3年里。
It doesn't matter if you put " Nvidia" here, or " Palantir", or the "S &P 500" index, as long as you're talking about a strong business that's growing in profits, or a broad market index, this is the chart you'll get .
The stock has achieved 740% over the past five years, which is unbelievable. But it did not rise in a straight line from here to here . This is a graph for 3 years . Look at what happened with a stock like "Nvidia", a top-tier stock. 49 , 147, then it went back down to 94, rose to 202, then dropped to 167, and climbed to 215. All of this happened in less than 3 years.
当然，我们得谈谈 Nvidia，各位。Nvidia 目前拥有我见过的最好的配置之一。我们说的这只股票，过去一年 literally 只涨了4%。4%，相比 S&P 500 指数提供的12%。
所以，它落后于指数。想象一下，一家企业得差到什么程度才会落后于 S&P 500。好，我们来看看。营收增长106%。营业利润增长近20%，他们持有的现金相当于债务的两倍。市盈增长率（PEG）倍数现在是0.3。
市场上最便宜的公司之一。这家公司目前的交易价格是未来盈利的13.5倍，市销率17倍，营业利润率65%。这是名副其实的人工智能垄断。这是你能得到的最好的。数字是传奇级的，而这只股票却在以巨大折扣被抛售。
为什么？因为交易员痴迷于一切新鲜闪亮的东西，而这只股票已经涨了很长时间，他们转向了别的东西。好，这现在是市场上最好的配置之一。
of course we have to talk about Nvidia, guys. Nvidia currently has one of the best settings I have ever seen . We are talking about a stock that, literally, made 4% over the past year. 4% compared to the 12% offered by the S&P 500 index.
Therefore, it lags behind the index. Imagine how bad a business you'd have to be to lag behind the S&P 500. Well, let's take a look. Revenues increased by 106%. Operating income rose by nearly 20%, and they have cash equivalent to twice their debt.
The price-to-earnings- to-growth (PEG) multiplier is now 0.3. One of the cheapest companies on the market. A company that is currently trading at 13.5 times future earnings and 17 times sales with an operating margin of 65%.
This is a monopoly on artificial intelligence in every sense of the word. This is the best you can get . The numbers are legendary and the stock is being sold at a huge discount .
Why? Because traders are obsessed with everything new and flashy, and this stock has been rising for a very long time, they moved on to something else. Well , this is now one of the best settings on the market.
一家软件垄断企业，就像 Nvidia 在硬件领域那样。
a software monopoly just as Nvidia is in hardware.
图形处理单元（GPU），也就是 Nvidia 和 Google，
Graphics Processing Units (GPUs), namely Nvidia and Google,