Paul Meeks is wary of the group that made him famous on Wall Street.
The investor, known for running the world’s largest technology fund during the late 1990s, says it’s the wrong time to aggressively put money to work in tech.
“You have to play it within the sector as defensively as possible,” the portfolio manager at Independent Solutions Wealth Management said Tuesday on “Trading Nation.”
Meeks doesn’t cite fundamental issues for his cautiousness.
“I just worry about the increased rise in rates,” said Meeks, who also teaches finance at The Citadel. “I need to see at least the 10-year [Treasury Note yield] stabilize for a while.”
Due to the challenging backdrop, Meeks believes tech…