Joe Duran
speaker
64 appearances
1 recordings
1 series
first heard Sep 2018
last heard Sep 2018
Joe Duran’s voice in public audio — every appearance, attributed to the second.
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Appearances
You certainly could take the time to go and have a lovely dinner and advertise about it.
It's just not what you choose to do.
It also has real significant implications in investing, which can really harm you more.
Yes, as long as it's what you want to do.
So I always say to people who are in this predicament and, you know, we all have kids and we see it with our kids.
This is what we call FOMO now.
It's become a thing.
Fear of missing out.
And you can have fear of missing out in a lifestyle sense, wanting what people have, even though you might never, ever, ever be able to get it.
Watching somebody on a private jet, even though, you know, you probably can't afford it.
and ending up making sacrifices to get to that private jet that might not be right for you.
So I always say, regulate your choices to things you actually want.
But in an investing sense, you can bet that just like people don't advertise what things cost or what it costs them to make it, they don't advertise the mistakes they make in investing either.
And in this environment where the market's been doing really well, a lot of people will start boasting about how well things are going.
And in investing you have two fears that you've got to always regulate.
One is the fear of missing out.
In other words, market's already gone up so much and they bought Apple when it was at 90, now I better pile in two.
already having messed up, but now you're going to go make the mistake of piling on and not necessarily the best time.
Or you have the fear of losing money.
And when that happens, you know which fear is actually stronger.
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