Jan 21, 2020
The fear of missing out (aka FOMO) is one of the strongest forces that can affect investment decisions.
The best investors are comfortable with accepting FOMO and staying in their lane (focusing on their individual race).
It can be difficult to not let "water cooler talk" affect our investment decisions when we hear about what our peers are doing.
In this podcast episode, I share my thoughts around dealing with investment FOMO.
Concentration gets you rich, diversification keeps you rich.
If you're winning YOUR race to achieving YOUR financial goals, it shouldn't matter what anyone else (or any other individual stock) is doing.
The real opportunity cost should be, "can I still achieve my financial goals" and "does this strategy increase or decrease my odds of success".
I hope you enjoy the episode!