FANG FAAMG Tech Boom Coming: Sorry Goldman
Goldman decided to go bearish on their own version of FANG called FAAMG. FANG is Jim Cramer's well known acronym for Facebook, Amazon, Netflix and Google.
FAAMG??? It’s FANG!
First, we had a rant on Goldman where investing.com quoted us as saying,
“Goldman, c’mon, you can’t just change a catchy moniker to whatever you want. You can't call them FAAMGs after Jim Cramer coined the term FANG. Cramer's call is what it’s going to be. You can’t just call it whatever you want and include whatever stocks you want. Some things are sacrosanct in this business. If Cramer coins a term we all need to abide by it.”
As we all know what Cramer says goes.
Key Stat Everybody Needs to Pay Attention To
OK now with that out of the way, the key stat that we don’t see anybody talking about is productivity.
Productivity is on its tail but previous moves up took technology stocks with it a la the 1990s.
Here’s the chart. A picture speaks a 1000-clicks (words).
If you look at the ‘90s’ productivity bottomed, taking the stock market higher with it.
With self-driving-this and AI-that we’re probably going into another technology stock tech boom thanks to productivity taking FANG, FAAMG, NASDAQ and every other four-letter, five-letter acronym under the sun up with it.
That’s one more reason not to be a bear.
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