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Faangs — the folly of investing in acronyms

 Much like the fall of the big emerging markets, known as the Brics, a decade ago.

They coined Civets (Colombia, Indonesia, Vietnam, Egypt, Turkey and South Africa) and Mist (Mexico, Indonesia, South Korea and Turkey).

Coined in 2013 as Fang (Facebook, Amazon, Netflix, Google), marketers soon added Apple to make it Faang. 

These stocks had an amazing run and analysts began stretching the formulations to Fangmat (including Microsoft and Tesla) 

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

Ruchir Sharma FT 9 May 2022


A writer and investor, he is the author of four books, including most recently “The 10 Rules of Successful Nations”. He is chair of Rockefeller International. The views expressed in his column are strictly his own.

The 10 Rules of Successful Nations - Ruchir Sharma - Häftad (9780141988146) | Bokus

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