In investing as in life, capitalizing on every opportunity is simply impossible. Many times, we think about all the hypothetical returns we missed out on, which does nothing more for us than waste time. Worse, it creates this sense of FOMO that may lead us to chase the next ever-elusive “hot” stock or investment trend with limited to disastrous results.
Here are a few actionable steps to avoid acting purely due to the fear of missing out.
Now, let’s look at what we discussed in this episode:
- What is FOMO?
- Where does FOMO come from?
- 5 steps to avoid acting due to FOMO
Here’s a breakdown of how this episode unfolds…
The research suggests that losses are twice as impactful on people, psychologically, as gains.
Be patient. Focus on the long term and I have extreme confidence and I've seen it many times, that people accelerate toward their goals and it doesn't end up being just a linear thing.
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