Stock market investing strategy: 3 areas to buy as mega-cap elite struggle

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Stock market investing strategy: 3 areas to buy as mega-cap elite struggle
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A CIO who helps oversee $100 billion says the mega-cap tech elite responsible for broad stock-market gains this year are more at-risk than people think — and shares 3 areas he likes within equities for both the near and long term

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Stocks are well off their recent lows, but CIO Jimmy Chang says the ongoing rally is misleading.

This can be seen in the relative performance of the benchmark S&P 500, which is up 7% from its recent March low, and the more tech-heavy Nasdaq 100, which has gained 13% — nearly double — over the same period. "A lot of people are hiding there and looking at these mega-cap tech stocks as the new staples, but the fact is technology stocks historically are not immune to the downward pressure of a recession," he explained.

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