FOMO

[jfan]

Just curious to have people's opinion in terms of controlling one's behaviour with respect to FOMO?

 

Environmental design?

 

Process design?

 

Barriers to prevent bad behaviour or cheating?

 

Emotional hacks?

 

Rewarding adherence to a pre-set process?

 

Thanks for your thoughts.

[LC]

Trying to imagine what I would think looking back on this decision in 25 years.

[Gregmal]

Just buy a marginal amount and then watch it. Same goes for fear driven selling. Sell a little and see how it sits with you a short while later.

[Guest cherzeca]

I agree that buying a toehold can make sense. selling half and taking profits always makes sense.  but this is a psychological issue, and you have to figure out your own best method of dealing with regret. for some, regret of not-doing is bigger than doing.

[BG2008]

Just buy a marginal amount and then watch it. Same goes for fear driven selling. Sell a little and see how it sits with you a short while later.

 

This is an incredible and practical tool.  Years ago, I used to respect people who do a ton of work upfront before they buy.  There really is something about buying 1% of a company that really forces you to watch the company.  Ownership of stock forces me to do more work. 

[rb]

How about Just Say No!

[rb]

Just buy a marginal amount and then watch it. Same goes for fear driven selling. Sell a little and see how it sits with you a short while later.

 

This is an incredible and practical tool.  Years ago, I used to respect people who do a ton of work upfront before they buy.  There really is something about buying 1% of a company that really forces you to watch the company.  Ownership of stock forces me to do more work.

There's that old saying that you never know a company until you own the stock.