I expect you have all heard this acronym by now. It is certainly alive and kicking in the investment world. Many stocks have skyrocketed in recent months*. So how should you cope with the fear of missing out – the FOMO – associated with not owning every single one of them?
Envy is one thing. But making big mistakes because of envy is the real trap here. Rather than dwell on all the alternative paths that you didn’t take, focus on what you have done. Is it working well enough? If so, keep doing it, while always trying to hone and improve. Leave the FOMO to the Robinhood crowd.
* Of course, the evening after we recorded this the market sold off sharply. It was probably our fault, sorry.
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