Every Saturday I answer questions from readers.

These Q&A emails are meant to slow things down and cut through the noise.

They focus on real investing questions, practical decision-making, and how to think about opportunities in markets that are rarely simple.

If you’ve emailed recently, there’s a good chance your question is addressed below.

Let’s get to it.

Your reasoning on Nvidia (NVDA) is well taken. However, why don't you include it in your Million Mission portfolio? – Pierre

The honest answer is concentration risk. I already own a significant amount of Nvidia in my personal portfolio.

Because of that, I chose not to double down inside my Million Mission portfolio.

That said… you’re right.

It does create confusion when I’m publicly pounding the table on Nvidia but not holding it in the Million Mission portfolio.

So I’m fixing that.

I just bought 200 shares of Nvidia at $179 for the Million Mission.

The fundamentals are too strong. The valuation is too compelling. And I’m comfortable increasing exposure even after considering concentration risk.

Thanks for pushing on that.

I too have been surprised that NVDA is not yet in the 200’s and note the expiration of your call options. Are you considering taking another shot? I’m not Monday morning QBing but wonder why you did not buy a call that captured this week’s earnings date? – Wick

Great question. And thanks for being a loyal reader.

First… let me lick my wounds for a minute. I’ve taken a few shots on NVDA call options inside my Million Mission portfolio now. No success so far.

That’s frustrating, especially when the underlying business keeps delivering.

But this is an outlier strategy.

The goal isn’t to win every time. The goal is to hit one that’s big enough to pay for the prior losers and then some.

As for why I didn’t buy calls that captured earnings next week: they were a bit more expensive given the volatility around earnings.

Plus, honestly I didn’t expect NVDA to sit at this valuation for this long. I thought the stock would move sooner. It hasn’t.

What do you think about Jim Rickards’ advice to stay away from tech stocks or Mason Sexton's recommendation to short Microsoft? – Ron

Really Ron??? You’re pinning me against other Paradigm editors?? 😂

The reality is every editor has a different investment strategy and area of expertise. That’s a feature, not a bug. We’re not supposed to agree on everything. If we did, you wouldn’t get differentiated insight.

That said, I see things very differently right now.

In my view, several major tech names are among the cheapest high-quality businesses in the market. A good portion of the Magnificent 7 falls into that category, including Microsoft.

A lot of investors have rotated out of big tech and into so-called “safer” stocks. But when you actually look at valuations, many of those defensive names are more expensive than the tech giants they fled.

So the narrative says “tech is risky” while the numbers say something else.

Beware of headlines. Follow the math.

How do you see upside in Meta given the growing concerns around AI-generated users, fake content, and advertiser trust? If AI begins interacting in place of real users and misinformation continues to spread, why wouldn’t that drive users and advertisers away over time? – Brett

That’s a fair concern. But it’s a very small part of Meta’s overall story.

Every stock has two components: the story and the data. The story explains what the company is building and where it’s headed. The data shows whether that story is actually working.

And the two feed each other. The data validates the story. The story gives context to the data.

What you’re pointing to – AI personas, fake content, misinformation – is part of the broader narrative around social media. But it’s not what’s driving Meta’s business or its stock price.

The real story is Meta’s increasing ability to use AI to improve ad targeting, conversion rates, and return on ad spend. That’s showing up clearly in the data (Meta’s financials).

Combine this growth with a relatively cheap valuation, and I see meaningful upside from here.

Is NOW the time to buy ServiceNow (NOW) for The Million Mission? – Greg

Great question, Greg.

Software stocks popped Thursday after Salesforce delivered solid earnings and guidance. Then Friday came and much of that bounce faded.

ServiceNow CEO Bill McDermott purchased $3 million worth of NOW stock yesterday.

Even Nvidia CEO Jensen Huang thinks the software selloff is overdone, saying, “I think the markets got it wrong.”

The data so far doesn’t show collapsing demand. The selloff feels more sentiment-driven than fundamentals-driven.

As for NOW, let me dive deeper over the weekend.

I’m thinking it’ll be more of a long-term holding versus a Million Mission position. 

Important Update: Follow The Million Mission on Twitter/X

Big news: I just launched a Twitter/X account so you can follow along with The Million Mission in real time. If you want quicker insights, early reactions to breaking news, and a closer look at how I’m navigating the road to $1 million – this is where I’ll be.

Come hang out, ask questions, and follow the Mission as it happens @DavisPWilson.

Another Important Update: The Million Mission website is live!

I’ve gotten plenty of feedback regarding where to find previous alerts. Well, The Million Mission website is finally live and you can check out archived alerts here.

Portfolio Overview

Here’s what I’m currently holding in The Million Mission portfolio:

Fannie Mae (FNMA) – 2,500 shares @ $7.25/share.

Uber Technologies (UBER) – 200 shares @ $80/share

Nvidia (NVDA) – 200 shares @ $179/share