Do you have FOMO (Bitcoin, TSLA, whatever?)

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neb2020
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Do you have FOMO (Bitcoin, TSLA, whatever?)

Post by neb2020 »

Maybe I need some BH therapy or support group.

Do you have FOMO on not chasing the latest shiny coin that worked out so well? Bitcoin? TSLA? I'm not saying dump your entire portfolio, but even with my play money I did not invest/speculate in Bitcoin and TSLA. I did play with commodity funds and got eaten up alive by Contango, so the only 1 rebellious streak ended up with 0% growth (approx). Yet, we have noobs getting rich off Bitcoin and TSLA.

Do you have FOMO? Be honest. I admit I have some FOMO. I thought of buying Bitcoin back in 2019 when it was $5k-ish but dragged my feet because of implementation issues. A friend told me about hot TSLA stock, but I ignored it. I hate to say it but if I had got into Bitcoin or TSLA with my play money (5% portfolio) even 5 years back, I may have doubled my portfolio today. I've been a good BH and my returns have suffered as a result. How do you deal with the guilt and FOMO?
Marseille07
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Re: Do you have FOMO (Bitcoin, TSLA, whatever?)

Post by Marseille07 »

I'm being honest and I don't have FOMO because I don't understand the pricing. Given a choice of 40K USD vs 1 BTC, I take 40K USD every time (or 17K or 6K, doesn't matter to me).
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Re: Do you have FOMO (Bitcoin, TSLA, whatever?)

Post by manatee2005 »

neb2020 wrote: Sat Jan 09, 2021 2:08 am Maybe I need some BH therapy or support group.

Do you have FOMO on not chasing the latest shiny coin that worked out so well? Bitcoin? TSLA? I'm not saying dump your entire portfolio, but even with my play money I did not invest/speculate in Bitcoin and TSLA. I did play with commodity funds and got eaten up alive by Contango, so the only 1 rebellious streak ended up with 0% growth (approx). Yet, we have noobs getting rich off Bitcoin and TSLA.

Do you have FOMO? Be honest. I admit I have some FOMO. I thought of buying Bitcoin back in 2019 when it was $5k-ish but dragged my feet because of implementation issues. A friend told me about hot TSLA stock, but I ignored it. I hate to say it but if I had got into Bitcoin or TSLA with my play money (5% portfolio) even 5 years back, I may have doubled my portfolio today. I've been a good BH and my returns have suffered as a result. How do you deal with the guilt and FOMO?
I invested in both Bitcoin and TSLA and I am mad that I did not invest more. If I invested more (and I had the money) I would be living in a mansion right now. So you have to realize that you will never be happy and occupy yourself with other things.
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Re: Do you have FOMO (Bitcoin, TSLA, whatever?)

Post by FlyHighAnalyzeThis »

I think it’s easy to look back and see all the winners you could have picked. However, most people don’t talk about the losers or selling early. Plus TSLA’s P/E ratio is over 1500 which is ridiculously high.
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Re: Do you have FOMO (Bitcoin, TSLA, whatever?)

Post by Scott S »

Definitely not. If I had tried to get in on these things, I surely would have lost money betting on the wrong ones.
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Re: Do you have FOMO (Bitcoin, TSLA, whatever?)

Post by 000 »

No, but I do have ROMO: Regret Over Missing Out. I actually thought about buying TSLA early in 2020 before its great run. There are other examples, sadly. I've learned that when I spot an opportunity I need to move quickly rather than waiting for a great price.
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Re: Do you have FOMO (Bitcoin, TSLA, whatever?)

Post by Schlabba »

neb2020 wrote: Sat Jan 09, 2021 2:08 am Maybe I need some BH therapy or support group.

Do you have FOMO on not chasing the latest shiny coin that worked out so well? Bitcoin? TSLA? I'm not saying dump your entire portfolio, but even with my play money I did not invest/speculate in Bitcoin and TSLA. I did play with commodity funds and got eaten up alive by Contango, so the only 1 rebellious streak ended up with 0% growth (approx). Yet, we have noobs getting rich off Bitcoin and TSLA.

Do you have FOMO? Be honest. I admit I have some FOMO. I thought of buying Bitcoin back in 2019 when it was $5k-ish but dragged my feet because of implementation issues. A friend told me about hot TSLA stock, but I ignored it. I hate to say it but if I had got into Bitcoin or TSLA with my play money (5% portfolio) even 5 years back, I may have doubled my portfolio today. I've been a good BH and my returns have suffered as a result. How do you deal with the guilt and FOMO?
I like reminding myself that I don’t need bitcoin. I don’t need Tesla.

With my current savings rate and the total market funds I know when I’ll reach 25 times expenses. Reaching that is not any better or worse whether other (noobs) have great success with Tesla or Bitcoin.

For me reaching that 25 times expenses will be in just a few years, I don’t know how I would handle it if it was 15 years into the future.
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Re: Do you have FOMO (Bitcoin, TSLA, whatever?)

Post by livesoft »

Now folks may appreciate the California Gold Rush more than when they read about it way back in school.
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Re: Do you have FOMO (Bitcoin, TSLA, whatever?)

Post by dmcmahon »

Meh. There is always some investment that coulda woulda shoulda been better than my portfolio. And there always will. You can’t beat yourself up with mighta beens. Look forward not backward.
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Re: Do you have FOMO (Bitcoin, TSLA, whatever?)

Post by vstariradev »

Going into Tesla and bitcoin in easy. Choosing when to go out is hard. Say you go in with a meaningful sum, will you sleep well or be over occupied with thoughts about selling at the right time ?
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Re: Do you have FOMO (Bitcoin, TSLA, whatever?)

Post by Ragnoth »

My current allocation let’s me sleep well. I own all the TSLA that I need through index funds, and hold a very small amount of bitcoin from an old experiment with mining (back when it was valued in the tens of dollars, instead of the tens of thousands). I’m extremely bearish on both of them, but I’m not going to sweat it if I continue to be wrong.
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Re: Do you have FOMO (Bitcoin, TSLA, whatever?)

Post by camillus »

In order to capitalize on long shots, you have to be the type of person to take long shots. The majority of those people lose, unfortunately. You are more likely to hear about and remember people hitting it big than you are the cautionary tales. There's such a thing as survivor's bias.

For every jackpot/lottery winner, there's a thousand people living paycheck to paycheck spending their weekends at the casino.

FOMO doesn't account for "risk" very well.

I have life goals, and my strategy is best calibrated to achieve those life goals.
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Re: Do you have FOMO (Bitcoin, TSLA, whatever?)

Post by TheoLeo »

As a boglehead you know that you will only achieve average returns in the short run. However, over the course of decades, staying invested at all times in a widely diversified low cost portfolio is actually very powerfull on an absolute return basis and on a risk adjusted return basis compared to continiously making concentrated bets and trying to time the market. The person who makes 1 million in bitcoin or Tesla is the same person who loses 1 million on Nikola, Quantumscape, Virgin Galactic, altcoins or bets on commodities.
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Re: Do you have FOMO (Bitcoin, TSLA, whatever?)

Post by visualguy »

These things are only "obvious" in hindsight. Say I have FOMO now and I allocate some meaningful "play" money. What would I put it in? I have no idea, just like I didn't know way back if Tesla was already overpriced and about to stagnate, or was about to go up like crazy, or something in between. Many jump into ARK funds now. Does it still make sense? I have no idea, and not enough confidence to put a meaningful amount in them.
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Re: Do you have FOMO (Bitcoin, TSLA, whatever?)

Post by manatee2005 »

Ragnoth wrote: Sat Jan 09, 2021 3:17 am My current allocation let’s me sleep well. I own all the TSLA that I need through index funds, and hold a very small amount of bitcoin from an old experiment with mining (back when it was valued in the tens of dollars, instead of the tens of thousands). I’m extremely bearish on both of them, but I’m not going to sweat it if I continue to be wrong.
If you only bought 1000 coins when it was in the tens of dollars you'd have $40 million now.
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Re: Do you have FOMO (Bitcoin, TSLA, whatever?)

Post by camillus »

manatee2005 wrote: Sat Jan 09, 2021 5:25 am
Ragnoth wrote: Sat Jan 09, 2021 3:17 am My current allocation let’s me sleep well. I own all the TSLA that I need through index funds, and hold a very small amount of bitcoin from an old experiment with mining (back when it was valued in the tens of dollars, instead of the tens of thousands). I’m extremely bearish on both of them, but I’m not going to sweat it if I continue to be wrong.
If you only bought 1000 coins when it was in the tens of dollars you'd have $40 million now.
I have $10,000 to invest today. Where should I put it? I'll settle for $20 million. :wink:
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Re: Do you have FOMO (Bitcoin, TSLA, whatever?)

Post by ccf »

I had a series of wins in 2020. Not life changing, but I did shave 2 years off of my retirement date.

All of the winning made me feel like I could keep winning.

A whole lot of other people feel the same exact way, the things that everyone thinks are going to pay off for them are all the same things, and the breathless "X is a sure thing" posts are only increasing.

Now the excitement has warn off and I feel like I've come back down to earth. I very much want to retreat to safety. If I could snap my fingers and be back in an entirely Boglehead portfolio, like I was in 2019 and every year before that, without paying 35% in short term gains I'd do it immediately.

I keep thinking of Cisco in 2000. Everyone knew it was a sure thing. You couldn't lose. It was essential internet infrastructure and the internet was obviously only going to get bigger.



Image
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Re: Do you have FOMO (Bitcoin, TSLA, whatever?)

Post by 4nursebee »

ccf wrote: Sat Jan 09, 2021 5:57 am I had a series of wins in 2020. Not life changing, but I did shave 2 years off of my retirement date.

All of the winning made me feel like I could keep winning.

A whole lot of other people feel the same exact way, the things that everyone thinks are going to pay off for them are all the same things, and the breathless "X is a sure thing" posts are only increasing.

Now the excitement has warn off and I feel like I've come back down to earth. I very much want to retreat to safety. If I could snap my fingers and be back in an entirely Boglehead portfolio, like I was in 2019 and every year before that, without paying 35% in short term gains I'd do it immediately.

I keep thinking of Cisco in 2000. Everyone knew it was a sure thing. You couldn't lose. It was essential internet infrastructure and the internet was obviously only going to get bigger.



Image

Can you flavor the stock run of Cisco more? What were the bull bear arguments, who had them? How does it compare to Tesla today? What were analysts saying? What were technicals like?

What if one were to keep Cisco in their minds to serve as an anchoring bias against any future out performance?
Would it not be better to anchor something on the other side, something like a Netflix or an apple?

If one thinks we are in a Cisco 2000 period, shouldn’t they sell everything and hide for a while?

There are some very bright people that have called for a bog move up in Tesla and btc for a while. Some call for higher.
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Re: Do you have FOMO (Bitcoin, TSLA, whatever?)

Post by ccf »

I think someone who was an experienced investor in 2000 could describe the tech bubble better than I.

I chose Cisco in 2000 as an example not because of the bubble, but because friends and family were opening E-Trade accounts left and right and investing money that was previously precious savings in this particular sure thing (and Nortel and Lucent and). Cisco's market cap eclipsed Microsoft's. 20 years later, Cisco is still a strong company and a dominant player in its market but that run up still looks bananas and it is no Microsoft.

Nobody knows what will happen, not even bright people. Some will win, some will get burned. That is why we are Bogleheads, right?
Last edited by ccf on Sat Jan 09, 2021 7:16 am, edited 7 times in total.
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HMSVictory
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Re: Do you have FOMO (Bitcoin, TSLA, whatever?)

Post by HMSVictory »

Not at all. I do not and will not subscribe to greater fool theory. I ignore what everyone else is doing (its probably dumb).

This is nothing new. Has been going on for centuries. Devil take the hindmost is an excellent book on the history of speculation.

Who wants to buy some Tulips??????????
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Re: Do you have FOMO (Bitcoin, TSLA, whatever?)

Post by Triple digit golfer »

manatee2005 wrote: Sat Jan 09, 2021 2:13 am
neb2020 wrote: Sat Jan 09, 2021 2:08 am Maybe I need some BH therapy or support group.

Do you have FOMO on not chasing the latest shiny coin that worked out so well? Bitcoin? TSLA? I'm not saying dump your entire portfolio, but even with my play money I did not invest/speculate in Bitcoin and TSLA. I did play with commodity funds and got eaten up alive by Contango, so the only 1 rebellious streak ended up with 0% growth (approx). Yet, we have noobs getting rich off Bitcoin and TSLA.

Do you have FOMO? Be honest. I admit I have some FOMO. I thought of buying Bitcoin back in 2019 when it was $5k-ish but dragged my feet because of implementation issues. A friend told me about hot TSLA stock, but I ignored it. I hate to say it but if I had got into Bitcoin or TSLA with my play money (5% portfolio) even 5 years back, I may have doubled my portfolio today. I've been a good BH and my returns have suffered as a result. How do you deal with the guilt and FOMO?
I invested in both Bitcoin and TSLA and I am mad that I did not invest more. If I invested more (and I had the money) I would be living in a mansion right now. So you have to realize that you will never be happy and occupy yourself with other things.
Had you invested more, would you have been able to hold onto it long enough or would you have sold sooner?
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Re: Do you have FOMO (Bitcoin, TSLA, whatever?)

Post by burritoLover »

Where are you wasting money in your life - Starbucks daily, cable tv you never watch, always upgrading to latest phone, whatever - cut those out and take that money and invest in your long shots.
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Re: Do you have FOMO (Bitcoin, TSLA, whatever?)

Post by Triple digit golfer »

manatee2005 wrote: Sat Jan 09, 2021 5:25 am
Ragnoth wrote: Sat Jan 09, 2021 3:17 am My current allocation let’s me sleep well. I own all the TSLA that I need through index funds, and hold a very small amount of bitcoin from an old experiment with mining (back when it was valued in the tens of dollars, instead of the tens of thousands). I’m extremely bearish on both of them, but I’m not going to sweat it if I continue to be wrong.
If you only bought 1000 coins when it was in the tens of dollars you'd have $40 million now.
No, he'd more likely have sold them when they were in the 20s or 30s of dollars and have $20-30,000.

That's why missing out doesn't bother me and it shouldn't bother anybody suffering from FOMO (God, I hate that term).

What makes you think you'd hold onto something after a 100% or 200% run up that you were extremely hesitant to invest in to begin with?

So let's say absolute best case scenario, you take 5% of your $1 million pottfolio, make 100%, and sell. Because you've made your money, you won on your bet. Whew! You can breathe now!

Now you've got $1,050,000. Fantastic, but not life altering for anybody to add 5%.

Weeks go by and the itch happens again. You take $50k and then lose half. Well, hopefully you've learned your lesson. But let's say you get greedy and try again. Same thing. Yie back to your $1 million and you're not happy because you anchored to the $1,050,000. You try again, this time dipping into your original million and you lose again.

Rinse and repeat until you do learn your lesson.
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Re: Do you have FOMO (Bitcoin, TSLA, whatever?)

Post by acegolfer »

neb2020 wrote: Sat Jan 09, 2021 2:08 am Maybe I need some BH therapy or support group.
...
but even with my play money I did not invest/speculate in Bitcoin and TSLA.
You asked for an advice. Apparently, you have FOMO. The best thing you can do is to understand the futility of stock picking. If you can't get that, then your next best move is get rid of play money.
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Re: Do you have FOMO (Bitcoin, TSLA, whatever?)

Post by Vanguard Fan 1367 »

In my younger days I did have FOMO. I thank the lecturer who recommended Bogle’s books. Now I am happy that I am not missing out on the returns of low fee index investing.
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Re: Do you have FOMO (Bitcoin, TSLA, whatever?)

Post by BuyAndHoldOn »

Marseille07 wrote: Sat Jan 09, 2021 2:12 am I'm being honest and I don't have FOMO because I don't understand the pricing. Given a choice of 40K USD vs 1 BTC, I take 40K USD every time (or 17K or 6K, doesn't matter to me).
Same....I never could get comfortable holding (hodling?) any cryptos; Tesla's stock also baffles me.
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Re: Do you have FOMO (Bitcoin, TSLA, whatever?)

Post by z3r0c00l »

No more than FOMO of not winning the lotto because I didn't play. If I did buy them I am also certain I would have sold early at a modest gain, and then had stronger FOMO about not staying with it. "Curious game, the only winning move is not to play."
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Re: Do you have FOMO (Bitcoin, TSLA, whatever?)

Post by hagridshut »

neb2020 wrote: Sat Jan 09, 2021 2:08 amDo you have FOMO? Be honest. I admit I have some FOMO. I thought of buying Bitcoin back in 2019 when it was $5k-ish but dragged my feet because of implementation issues. A friend told me about hot TSLA stock, but I ignored it. I hate to say it but if I had got into Bitcoin or TSLA with my play money (5% portfolio) even 5 years back, I may have doubled my portfolio today. I've been a good BH and my returns have suffered as a result. How do you deal with the guilt and FOMO?
I knew about Bitcoin in 2009, and even considered buying some. However, I thought it was going to be too much trouble, decided not to buy or mine, and consequently missed out on what would have been life changing gains. Had I acquired BTC in 2009, I would have achieved my retirement goal multiple times over by the end of 2013.

I don't have FOMO, but I definitely feel regret, much like someone else mentioned earlier in the thread.

On the other hand, I took advantage of my knowledge of Crypto and Machine Learning to buy shares of NVDA, several years after the start of Bitcoin. If you aren't mining the gold, the next best option is to sell equipment to the miners. NVDA was my biggest and only major win, but that was enough to move my retirement date ahead by well over a decade. I have no real cause to complain at this point.
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Re: Do you have FOMO (Bitcoin, TSLA, whatever?)

Post by tomphilly »

I get FOMO missing bitcoin, tesla, ARKK etc but I remind myself of a few things:

1. Even if I'd gotten in early on these I would have sold long ago anyway. How many people stick around when they're at a 100% gain?
2. Folks with the mindset to drop money into these gambles also drop money into many other unsuccessful prospects
3. These winners are total gambles and many that invest in them have no idea what they're doing - their justification is "I have faith" or "stonk only goes up". I like strategies that are researched and thoroughly examined.
Last edited by tomphilly on Sat Jan 09, 2021 9:11 am, edited 3 times in total.
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Re: Do you have FOMO (Bitcoin, TSLA, whatever?)

Post by RobLyons »

Nope. I've got my BH blinders on. Friends that did invest in BTC and TSLA in the past experienced the rollercoaster highs and lows and now highs again that I'm not interested in.
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Re: Do you have FOMO (Bitcoin, TSLA, whatever?)

Post by Jags4186 »

I have massive ROMO (regret of missing out). And while people like to show Cisco charts, I prefer to share the chart of another dotcom darling, Qualcomm:

Image

I have a feeling Tesla will act more like Qualcomm than Cisco.

What’s interesting right now, is that “hot stocks” have, and continue to, grow and have real businesses. It’s markedly different this time vs the dotcom boom because these companies exist, make money, and are making money at the expense of other companies. These aren’t “imagine the future” type of companies. I just know that I have awful luck picking, and whatever I choose to invest in will immediately crash.
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Re: Do you have FOMO (Bitcoin, TSLA, whatever?)

Post by Ramjet »

I get my kicks thru the Hedgefundie portfolio
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Re: Do you have FOMO (Bitcoin, TSLA, whatever?)

Post by Nowizard »

No, I suspect that we have some of each in a fund or two, and am very satisfied with the progression of two-stocks bought in March, 2020 after the temporary meltdown.

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Re: Do you have FOMO (Bitcoin, TSLA, whatever?)

Post by ccf »

Jags4186 wrote: Sat Jan 09, 2021 9:14 am These aren’t “imagine the future” type of companies

I think that "imagine the future" is exactly what the Tesla optimism is and exactly what Bitcoin optimism is.
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Re: Do you have FOMO (Bitcoin, TSLA, whatever?)

Post by saintsfan342000 »

Sort of. I sure wish I’d invested long ago. But realistically, none of those shiny things flashed on my radar until they’d already taken off, were making headlines, and become office water cooler topics of conversation. That’s the worst time to invest in things.
Already impartial now
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Re: Do you have FOMO (Bitcoin, TSLA, whatever?)

Post by Tamalak »

There's no parallel universe in which I would have invested in this stuff, because there's no way I would have done enough research to identify them as future winners
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Re: Do you have FOMO (Bitcoin, TSLA, whatever?)

Post by visualguy »

saintsfan342000 wrote: Sat Jan 09, 2021 9:42 am Sort of. I sure wish I’d invested long ago. But realistically, none of those shiny things flashed on my radar until they’d already taken off, were making headlines, and become office water cooler topics of conversation. That’s the worst time to invest in things.
Not necessarily. Tesla was still an awesome investment at that point, for example. The problem is that there was no way to know. I certainly didn't expect it to reach anywhere near the heights that it reached.
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Re: Do you have FOMO (Bitcoin, TSLA, whatever?)

Post by grettman »

You don’t have FOMO. You likely have MO.

You missed out. So did I and I don’t care.
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Re: Do you have FOMO (Bitcoin, TSLA, whatever?)

Post by ohboy! »

ccf wrote: Sat Jan 09, 2021 6:43 am I think someone who was an experienced investor in 2000 could describe the tech bubble better than I.

I chose Cisco in 2000 as an example not because of the bubble, but because friends and family were opening E-Trade accounts left and right and investing money that was previously precious savings in this particular sure thing (and Nortel and Lucent and). Cisco's market cap eclipsed Microsoft's. 20 years later, Cisco is still a strong company and a dominant player in its market but that run up still looks bananas and it is no Microsoft.

Nobody knows what will happen, not even bright people. Some will win, some will get burned. That is why we are Bogleheads, right?
Seems a little different given that decent interest could be made on a savings account at the time.

Now people have access to a lot of liquidity, leverage, and even the onramp to trading generally has become substantially easier with it even having gone as far as being gameified. Add in the money printing and it’s quite a different game all around.
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Re: Do you have FOMO (Bitcoin, TSLA, whatever?)

Post by Dave55 »

Not one bit. I am the worse speculator and I have a track record from my 30's to prove it. I could care less about Tesla, Bitcoin or any type of speculations.


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Re: Do you have FOMO (Bitcoin, TSLA, whatever?)

Post by ohboy! »

Jags4186 wrote: Sat Jan 09, 2021 9:14 am I have massive ROMO (regret of missing out). And while people like to show Cisco charts, I prefer to share the chart of another dotcom darling, Qualcomm:

Image

I have a feeling Tesla will act more like Qualcomm than Cisco.

What’s interesting right now, is that “hot stocks” have, and continue to, grow and have real businesses. It’s markedly different this time vs the dotcom boom because these companies exist, make money, and are making money at the expense of other companies. These aren’t “imagine the future” type of companies. I just know that I have awful luck picking, and whatever I choose to invest in will immediately crash.
Not sure I get your post given that Qualcomm as a business does quite well now and Cisco made way more money in 2019 than Tesla.
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Re: Do you have FOMO (Bitcoin, TSLA, whatever?)

Post by PA86 »

Yes, yes I do. I put a few hundred dollars of fun money in.
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Re: Do you have FOMO (Bitcoin, TSLA, whatever?)

Post by 5280Tim »

You can always point to something in the past that creates regret if you allow it to. I got some insurance money after college that, if I had used it to buy AAPL, would be worth around $20 million. I didn’t, and it doesn’t bother me. It’s like looking at powerball jackpots and have regrets about not buying those numbers. You’ll drive yourself crazy.

I don’t understand Bitcoin enough to have FOMO. I don’t regret missing out on something that I don’t understand. You know who does have serious regrets about Bitcoin? The Bitcoin pizza guy. He spent 10,000 Bitcoins in 2010 to buy two pizzas from Papa Johns. Those would be worth close to $400 Million today!
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Re: Do you have FOMO (Bitcoin, TSLA, whatever?)

Post by FrankTheViking »

Almost put 10k in bitcoin in 2019 I think when it was trading around 3k. Thought there was no way it couldn't get back up to 10k or so eventually. Didn't do it because first and foremost I do not understand it to the T. Second I worry quantum computing will end up cracking the algorithm. Falls under first and foremost as well I suppose.

Kind of a bummer watching it go up and up but the FOMO is gone. You miss opportunities everyday to drastically increase or reduce your wealth. My day to day life is not altered by not buying in, nor would it be if I did. Happy with what the 10k did in my portfolio throughout 2020 instead. May educate myself more in the future and start investing 5-10% in crypto down the line, regardless life is good. :sharebeer
No EF. 80% Total U.S. / 20% Total International. 100% equity. Is there a gun to your head? Is there a tiger in the room? No? What's the problem?
MinnGuyInvesting
Posts: 226
Joined: Fri Dec 11, 2020 9:24 am

Re: Do you have FOMO (Bitcoin, TSLA, whatever?)

Post by MinnGuyInvesting »

I used to have FOMO on Apple stock in the early 2000's.
I didn't like Apple myself, so I concentrated on being a skeptic of it.

At a certain point, I asked myself, "Why do I care about a product I care so little about?"
I soon decided the best way to handle my emotion on a stock I didn't like was to hedge it by buying a share. "If you can't beat them, join them".

Well, Apple stock has been very good for me ever since. My kids and wife like the product, I don't "get it", but I'm happily making $$$ on it.

I was also skeptical of Tesla, but in a similar fashion, last year I dipped in, then bought a little more. Mainly used some dividend money from ETF's to fund it. It's got a good return, but it's not a big enough potion of my portfolio to matter.

Same with Bitcoin. Invested in it very late in 2019. Thought it was too late, but with each passing day, I look like I was an earlier adopter than I was.
What do I have to lose? Just half or 70% of the "small" amount I invested, but with each week that it goes up, the risk of me losing on it decreases.
Index ETF's 41% |ARK Funds 36% | AAPL 4% | TSLA 3% | GOOGL 1% | AMZN 1% |Other stocks 3% | BTC/ETH 4% | | | | Tracking my porfolio: https://www.bogleheads.org/forum/viewtopic.php?p=5745280#p5745280
KlangFool
Posts: 19172
Joined: Sat Oct 11, 2008 12:35 pm

Re: Do you have FOMO (Bitcoin, TSLA, whatever?)

Post by KlangFool »

OP,

No. I have enough. I only need a 5% nominal return. I had far exceeded my goal. I do not need to gamble.

What is your number? What is the return rate that you need to reach your goal? If you have enough, why should you care to gamble?


KlangFool
MinnGuyInvesting
Posts: 226
Joined: Fri Dec 11, 2020 9:24 am

Re: Do you have FOMO (Bitcoin, TSLA, whatever?)

Post by MinnGuyInvesting »

KlangFool wrote: Sat Jan 09, 2021 10:03 am OP,

No. I have enough. I only need a 5% nominal return. I had far exceeded my goal. I do not need to gamble.

What is your number? What is the return rate that you need to reach your goal? If you have enough, why should you care to gamble?


KlangFool
You're in a good spot.
No need to introduce more risk.
Index ETF's 41% |ARK Funds 36% | AAPL 4% | TSLA 3% | GOOGL 1% | AMZN 1% |Other stocks 3% | BTC/ETH 4% | | | | Tracking my porfolio: https://www.bogleheads.org/forum/viewtopic.php?p=5745280#p5745280
HenryPorter
Posts: 257
Joined: Sat Dec 05, 2009 2:09 am

Re: Do you have FOMO (Bitcoin, TSLA, whatever?)

Post by HenryPorter »

Anyone remember this magazine cover?

https://investorplace.com/wp-content/up ... 06/ee5.jpg
Candor
Posts: 358
Joined: Sat May 28, 2011 4:25 pm

Re: Do you have FOMO (Bitcoin, TSLA, whatever?)

Post by Candor »

I did a lot of day-trading and momentum stock trading in 1999-2000 and learned I don't have the temperament for it. Buy and hold indexes for me ever since and it has worked out just fine. Don't miss it a bit.
Last edited by Candor on Sat Jan 09, 2021 10:55 am, edited 1 time in total.
Time is your friend, impulse is your enemy. - John C. Bogle
Soon2BXProgrammer
Posts: 1641
Joined: Mon Nov 24, 2014 11:30 pm

Re: Do you have FOMO (Bitcoin, TSLA, whatever?)

Post by Soon2BXProgrammer »

I have no FOMO because its not worth to the risk to me, because I can win without it.
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