Continuing our Financial Acronyms of the Week series, I’d like to remind you that Pete the Cooler enjoys using financial acronyms to shorten very complicated financial terms, just like the big boys of the financial world do. It sounds so slick, suave, and sophisticated to rattle off a bunch of terms to show your superior financial intellect. Sometimes, PtC’s acronyms overlap with more widely-used acronyms. But I assure you, mine are much more accurate. Today, you will learn the true meaning of FAaNG.
You’ve likely heard the terms: ACE, EBIT, EBITDA (just add DA), AAGR, CAGR, NPV, MBS, MIV, ROI, CFCT, CDS, and of course last week’s (and the first of our series) PtC term, Devastating Asset Decline (DeAD) to describe significant declines in value of an investment over a given period of time and Highly Optimistic Price Estimate (HOPE) to describe, price estimates for investments that may be more driven by desire than underlying fundamentals.
I’ve said it before but I want to make sure it sinks in, show dominance while using this terminology by maintaining a forced power pose, it will ensure that others submit to your prowess or mistakenly assume you are a maniacal overlord scheming for world domination, before they return to Facebook and Twitter to their own future detriment.
For this week, I’ve coined the term: Forced Attempt at Nefarious Globalization (FAaNG) to describe the fairly obvious outlook of the major tech companies operating in the market (and many other behemoth corporations that view people as commodities or assets rather than customers to whom they should offer value and respect.)
Those shiny-shoe guys in the NY, Chicago, London, and Singapore skyscrapers will probably stick with their version of FAaNG, but they will be thinking about mine.
Rest assured, I have dozens of these. I’ll keep rolling out financial acronyms weekly (or so) as we go down this PtC rabbit hole together.