We've all been there. Maybe it was the breakroom at work. Or a graduation party. Perhaps a picnic with some new friends, or the bar on Friday night. Invariably, at some point in our lives, we're going to run into that guy (or gal) who thinks they've got it all figured out. And they are more than happy to tell us about it. Perhaps no topic is as likely to bring up the volume from these people as the stock market, especially recently. They bought TSLA at $50, Apple in 2010 and bitcoin at $5/coin. And you, did not. This FOMO, or "Fear Of Missing Out," is likely even stronger in today's day in age. As many of us connect with Facebook, Instagram, and Twitter, we see one friend just bought a new car, another is swimming with the dolphins, and a third is headed to Fiji on vacation. We wonder why we aren't doing that?
Don't listen to them. Even the greatest investors have taken big losses on multiple investments as they search for ones that will see even bigger gains. Trust me, I've seen the account statements. And what I've realized is that it's usually the person you have to crane your neck to hear that you should be listening to. The one who humbly admits their losses, and the lessons learned, more easily than their gains. Often, these people are hard to find, because they're not talking, at least not loudly. But if you can find one, I suggest listening very, very carefully. Stay focused on your goals and your accounts. And don't let the noise of today's social media tell you to be doing anything different.