“Nevertheless, real sums have started to evaporate. And much of it happened with the biggest stocks in so-called tech. The seven FANGMAN stocks – Facebook, Amazon, Netflix, Google’s parent Alphabet, Microsoft, Apple, and NVIDIA – got hosed today. Again…
It gets costly when the entire market depends on a handful of over-hyped mega-caps.”
Wolf Richter, Wolf Street
“The problem with movies and books is they make evil look glamorous, exciting, when it’s no such thing. It’s boring and it’s depressing and it’s stupid. Criminals are all after cheap thrills and easy money, and when they get them, all they want is more of the same, over and over. They’re shallow, empty, boring people who couldn’t give you five minutes of interesting conversation if you had the poor luck to be at a party full of them. Maybe some can be monkey-clever, some of the time, but they aren’t hardly ever smart.”
Dean Koontz
pure gold from Koontz, and Richter’s should be standard fare for the
“it’s different this time” crowd, especially if they’re leveraged bulls still.
“. . . aren’t hardly ever smart.” — I thought Koontz was a better writer than this.
Microsoft and Apple should not be on any list like “FANGMAN” as they are solid businesses without debt, have good free cash flow and pay growing dividends.
The FANG stocks are a potential shitshow of debt, leverage, no dividends and damn little FCF. Amazon is the only one on that list I would bet on surviving a major storm.
I own MSFT and a tiny bit of AMZN. I have Apple exposure via Berkshire Hathaway (BRK-B) which I think is the largest or nearly largest holder of Apple. I have never seen the others as investment grade or do not like them for other reasons. Nvidia is worth using for trades but I do not like it as a long term hold. They were super hot when the cyber currency bull was running but lost momentum with that whole thing.