Thanks but no Faangs - the folly of investing in acronyms

Bundling together countries and companies in catchy but superficial concepts was always bound to end in tears.

Coined in 2013 as Fang (Facebook, Amazon, Netflix, Google), marketers soon added Apple to make it Faang. PHOTO: REUTERS
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(FINANCIAL TIMES) - Given the battering markets have dealt so far this year to tech stocks, led by the Faangs, it is worth stepping back and recognising what is coming apart: the whole concept of acronym investing.

The unbundling of the Faangs is much like the fall of the big emerging markets, known as the Brics, a decade ago.

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