Stock market meltdowns have FAANGs looking increasingly toothless

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Nine years ago, Jim Cramer — the gleefully loudmouthed CNBC pundit — introduced the world to what he called the FANG investment strategy. Facebook, Amazon, Netflix, and Google, his reasoning went, were as close to a sure bet as you could get as commerce, community and content shifted online.

A few years later the acronym was plumped up to FAANG with the addition of Apple. Corporate rebrandings at Facebook and Google would end up messing with the spelling, and some insisted Microsoft should join the party…