A CIO overseeing $22 billion shares his 3 favorite market areas — and 3 reasons the Magnificent 7’s earnings growth can’t last forever

• Big Tech stocks have driven the market to record highs this year.
• But Makena Capital’s Larry Kochard likes small-cap, mid-cap, and quality stocks instead.
• He cites concerns over earnings growth sustainability, antitrust issues, and increasing competition.

The stock market is on a Big Tech-fueled tear as equities continue to hit record highs this year.