As an example of how quickly assets in the financial markets can go from “hero to zero”, the website visualcapitalist.com created a graphic to show the true carnage that has occurred among recent tech market leaders. The so-called “FAANG” stocks (Facebook, Amazon, Apple, Netflix, and Google) have now each officially dropped in to “bear” market territory—defined as a drop of 20% of more from a recent high. Facebook has fared the worst, down almost 40%, while Google is off “just” -20.7%. As you might expect, these stocks have been the favorites of younger investors, who have taken it on the chin of late.
Hero to Zero
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November 26, 2018