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

Rathbones brings together responsible investment in Centre of Excellence

Rathbones brings together responsible investment in Centre of Excellence

Combines ethical and sustainable research capabilities

Patrick Brusnahan
clock 29 May 2026 • 1 min read
Why active management matters more for income investors

Why active management matters more for income investors

Significant implications for advisers and investors relying on passive income strategies

Rory Sandilands
clock 29 May 2026 • 4 min read
Can the energy crisis power renewables past their headwinds?

Can the energy crisis power renewables past their headwinds?

Renewables continue to see headwinds

Ian Aylward
clock 28 May 2026 • 3 min read