TMO - Morgan Stanley Fund Manager Advises Investors To Diversify Amid Big Tech Frenzy: Here Are 2 Stocks He Recommends | Benzinga
Aaron Dunn, a portfolio manager at Morgan Stanley, advised investors to diversify beyond the “Magnificent Seven” tech stocks.
What Happened: Dunn, who also serves as co-head of value equity at Morgan Stanley, emphasized the importance of broader market diversification, according to CNBC on Sunday. He highlighted two stocks he finds particularly promising: BJ’s Wholesale Club Holdings Inc (NYSE:BJ) and Thermo Fisher Scientific (NYSE:TMO).
"I would say the concentration is troublesome, in our opinion, and it's something to watch. We do tell [clients] we really think a broader diversification of the market is important," Dunn said.
He praised BJ's Wholesale Club for its strong balance sheet, high returns on capital, and robust free cash flows. Dunn noted that BJ's digital footprint and potential for store expansion make ...