A $506 Billion Loss

For much of the past four or five years, Facebook, Apple, Amazon, Netflix, and Google (or Alphabet as it is now known), the so-called FAANG stocks have captured investors’ imagination. This selection of tech giants has lead the market higher, helping the S&P 500 reach new highs as other companies have floundered. Q3 hedge fund letters, conference, scoops etc Tencent, Alibaba, TSMC and Samsung have achieved the same halo effect in Asia. Between the beginning of February 2016 and their peak earlier this year, these four companies added a combined $1.1 trillion in market value. Following in the footsteps of…