Satori Fund's Dan Niles on when the 10-year rate might start threatening tech stocks

"It's like smoking three packs of cigarettes a day," Dan Niles, founder and portfolio manager at the Satori Fund, told CNBC's "Squawk Box" Wednesday. "You may have no problems for years and then all of a sudden it catches up to you. And right now that's what we're trying to figure out with rates."