THIS makes FANG stocks a long-term buy: CIO

Three out of 4 FANG stocks are trading lower this year, but investors should take note of the advantage Facebook, Amazon, Google-parent Alphabet, and Netflix have in one key area, ARK Invest CEO Cathie Wood said Wednesday. The big-cap tech innovators are poised to reap benefits from the commercialization of artificial intelligence and machine learning, she told CNBC’s “Squawk Box.” For that reason, long-term investors should not be concerned about the stocks’ recent underperformance. “We think the big are getting bigger. The winner takes most. We’re seeing that time and again,” said Wood, also chief investment officer at ARK, which offers four technology-focused exchange-traded funds. Shares of Facebook are up nearly 11 percent year to date, but the remaining FANG stocks are in the red, with Amazon down about 12…

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