Fear of missing out, or, “FOMO,” is one of the biggest traps in the investing world. It’s always been a problem, whether we’re talking about the proverbial, “shoeshine guy,” giving out stock tips right before the crash of 1929, or the country club one-upmanship on the golf course, hearing about other people making what appears to be easy money provokes envy, which reduces our ability to think clearly & make rational decisions.
This week we’ve been introduced to a subreddit called, “WallStreetBets,” and how its activity has affected the stock prices of GameStop (GME) & AMC Entertainment Holdings (AMC). Now, if you still don’t know what Reddit is, or what subreddits are, count yourself lucky. You are not missing out. My social media has been blowing up with discussions, and I use that term in its loosest possible sense, on how to take advantage of it, how to figure out options trading, how not to miss out the, “next time,” or, probably worst of all, whether there...