STEPHEN CRANSTON: Faangs, unlike the Nifty Fifty, are all in the same sector
The dominance of Facebook, Apple, Amazon, Netflix and Google could change if Biden wins and breaks them up
There has never been such a passion for acronyms to describe the shares that are pushing the market forward. The most catchy has proved to be Faang, for Facebook, Apple, Amazon, Netflix and Google. You can even buy a Faang exchange-traded fund (ETF) marketed by Sygnia.
There have been attempts to create similar acronyms such as Tand, for Tesla, Activision, Nvidia and Disney. But somehow, combining the firm that brought us Snow White and the Seven Dwarfs with Elon Musk is a bit of a stretch. Or maybe not. There were no catchy names in the dotcom boom of the late ’90s — the New Economy wasn’t really catchy, let’s face it. You have to go back to the “Nifty Fifty” of the 1970s, which included now long-forgotten companies such as Polaroid...