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The FANG Isn’t Distorting Wall Street as Much as You Think

Big technology casts a vast, lopsided shadow across the modern market.

Counting gigantic Apple (NASDAQ:AAPL) and Microsoft (NASDAQ:MSFT) in with the famous “FANG” group of dot-com darlings, just six companies have swelled up to the point where they command a full 15 percent of all the money flowing through the entire S&P 500.

For perspective, the entire health care sector — all the drug makers, hospital chains and insurance groups — barely fits into 15 percent of the index. It takes all the big U.S. oil stocks plus real estate, telecommunications and the utilities to match that staggering six-stock allocation. That’s not just a concentrated position. Their very weight distorts investors’ sense of what’s going on elsewhere in the market and the economy as a whole.

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The FANG Isn??t Distorting Wall Street as Much as You Think

Big technology casts a vast, lopsided shadow across the modern market.

Counting gigantic Apple (NASDAQ:AAPL) and Microsoft (NASDAQ:MSFT) in with the famous ??FANG? group of dot-com darlings, just six companies have swelled up to the point where they command a full 15 percent of all the money flowing through the entire S&P 500.

For perspective, the entire health care sector — all the drug makers, hospital chains and insurance groups — barely fits into 15 percent of the index. It takes all the big U.S. oil stocks plus real estate, telecommunications and the utilities to match that staggering six-stock allocation. That??s not just a concentrated position. Their very weight distorts investors?? sense of what??s going on elsewhere in the market and the economy as a whole.

To read the full article, please click here.

Newsletter Signup.

Sign up to the Human Events newsletter

TRENDING NOW:

YouTube Won’t Let You Watch Lauren Southern’s ‘Borderless’

FOREIGN AFFAIRS

DONKTUM: Restricting the Range of Consciousness.

CULTURE

Lauren Southern’s Borderless Deleted By YouTube. ENOUGH.

U.S. POLITICS

Farage: ‘No No to BoJo’.

FOREIGN AFFAIRS

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