As the second quarter earnings season approaches, Mahoney Asset Management CEO Ken Mahoney joins Wealth! to share his insights on investing strategies in the current market environment.

Mahoney advises investors not to "overdo the Fed [Federal Reserve]" by fixating on whether officials will or won't cut interest rates. Instead, he suggests investors pay close attention to firms that are not only beating expectations but also raising guidance. These companies, he suggests, may offer more reliable investment prospects.

Turning to the topic of meme stocks, Mahoney points to Tesla (TSLA) as a concern. "I would be careful buying Tesla at these levels," he cautions, citing the company's recent price reductions and the "erratic" behavior of CEO Elon Musk as factors that could impact the stock's growth.

For more expert insight and the latest market action, click here to watch this full episode of Wealth!

This post was written by Angel Smith