Justin Urquhart Stewart: The next flight to Neverland

Tech stock concerns

clock • 4 min read

The dominance of the so-called 'FAANG' stocks across the US market is just the most obvious example of a striking absence of diversity in the main equity indices, worries Justin Urquhart Stewart

I am all too aware ‘FAANG' stock sceptics such as myself could easily be accused of sour grapes. Nevertheless, I cannot help but draw parallels with the turn of the millennium, when the late, great Ian Rushbrook - then manager of Personal Assets Trust - argued: "Investing in the new economy is a flight into Neverland - or bungee-jumping without a rope." It did not take long for him to be proved right, but flying against the wind is rarely a comfortable experience. The FAANG stocks of Facebook, Amazon, Apple, Netflix and Google are a world away from their ‘here today, gone tomorrow' tech ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Investment

Technology cited as main barrier to private market access for advisers

Technology cited as main barrier to private market access for advisers

Follows Oliver Wyman’s and Clearstream’s private markets whitepaper

Sophia Panayi
clock 04 August 2026 • 3 min read
Ascot Lloyd links up with BlackRock for investment offering

Ascot Lloyd links up with BlackRock for investment offering

A move to a single investment provider

Isabel Baxter
clock 04 August 2026 • 2 min read
Beyond London: Adviser opportunities in regional investment

Beyond London: Adviser opportunities in regional investment

Hugi Clarke unpacks the regional growth agenda

Isabel Baxter
clock 31 July 2026 • 1 min read