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Fear the FAANGs

Fear the FAANGs

Sleepwalking into a precarious situation is an unfortunate trait of financial markets. We don’t have to look a long way back into our history to find evidence of the last time investors focused on immediate benefits without considering possible long-term consequences: the stock market mania that become the dot-com boom and bust and the rampant trade in collateralised debt obligations that led to the 2008 credit crunch are prime examples.

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