Max Nisen is a Bloomberg Gadfly columnist covering biotech, pharma and health care. He previously wrote about management and corporate strategy for Quartz and Business Insider.

Good morning! This is Fly Charts, the daily charts-only newsletter from Gadfly; sign up here. From FAANG fears to Murdoch's bad week, here are four charts that tell you what you need to know in business today. 

Tech Friendly
Don't freak out so much about FAANG stocks, we aren't anywhere close to 1999 levels of tech stock concentration.
Source: Morningstar
Note: Data as of Dec. 31, 1999 and June 6, 2017


Pandora keeps fighting off a takeover, but its cash burning business means its value continues to plunge.
Source: Bloomberg
Stock Envy
When bond and hedge fund managers warn of doom and gloom ahead for markets, it looks more like wishful thinking than objective analysis.
Source: Bloomberg
Note: Indexed to 100.
Daily Wail
It wasn't just Theresa May that suffered embarrassment in the U.K.'s snap elections; it was a very bad week to be Rupert Murdoch.
Source: Bloomberg

And don't miss Lisa Abramowicz on fraying emerging-market debt: "There are some well-known problem spots among developing countries, such as Brazil and Venezuela, which are carefully studied by hedge funds and active fund managers. But other less-publicized countries that have checkered histories when it comes to repaying debt are starting to borrow more money."

This column does not necessarily reflect the opinion of Bloomberg LP and its owners.

To contact the author of this story:
Max Nisen in New York at

To contact the editor responsible for this story:
Mark Gongloff at