Mike PhilbrickVanguard Information Technology ETFVGTHOLDAug 31, 2018

Doesn't own it, but uses it as a benchmark to gauge his performance. You're probably going to get a pullback. 

Given that it's such a large ETF, you might want to write some calls on it just a bit higher, and manage it as you go through. Roll up once it gets to the price target. Don't write the call too far out but, say, 1 month out.

Generally speaking, tech valuations are high. It's a low-fee ETF, but this a volatile sector ETF, prone to wild swings. Be careful here.

Just hit an all-time high today. He loves the tech space, but prefers buying the individual names as a general investing strategy. This ETF is fine and will do well going forward. Caution: the tech trade may become volatile and it's already getting crowded. VGT is all U.S. holdings, so it's better to look overseas, particularly Asia.

Technology is interesting in the sense that we don’t have the same bubble we had in the late 1990s, because the values are not crazy. Tech stocks are trading on pretty reasonable P/E ratios. Probably a good portfolio filler, but if you want higher returns, he would look elsewhere.

This has all the big names. What’s not to like? It is the best sector in the S&P 500 combined with a 10-basis point management fee. Technology is delivering incredible earnings growth, so you are going to have a high P/E ratio. However, in a larger context, this P/E ratio is not crazy for what you are getting. He likes it.