FAANG Is an acronym for Facebook, Amazon, Apple, Netflix, Google. It's commonly used in investing contexts because these stocks end up in a lot of portfolios. Either directly or in the index funds/ETFs they've bought. Also in most retirement plans, usually unbeknownst to their clients
If you're wondering why breaking these up is hard, it's because the market has put its eggs in one basket
For size and profit, there's only one basket
@cypnk If it we're not for FAANG, the S&P500 would have hit some hard bottom lines weeks/month ago. Not sure but they make about 1/3 or even half of this Index ..
@BlauerKlabauter The S&P500 house with just 5 pillars holding up the foundation. The pandemic would have wiped the floor with the market many times over without them
@cypnk as you say pillars, just had the vision of S&P500 as an inverted pyramid, with FAANG at the top where they belong by market capitalisation 😳 and hype 🤡
as i edited my toot while you replied, let me put it just right here in place ..
@cypnk Hey comrades, anyone here who could visualize S&P500 as inverted pyramid?!
@cypnk like, with any graphics tool u know and i am totally unable to operate ..
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For context, the market cap for FAANG stocks was around $4.1 trillion at the beginning of this year
U.S. GDP at the end of 2019 was $21.73 trillion
Apples to oranges, but the point is that when a lot of money is involved, change is hard. Come January, keep that in mind