In previous articles, we’ve touched on the phenomenon known as FOMO (fear of missing out). Fear of missing out can not only lead to dangerous spending habits, but can even impact your strategies for investing.
“Naturally, people want to get in on the mountains of money they see others making on certain investments. Take a look at the Bitcoin boom, for example”, says Richard Meyer Cayne of Meyer International in Bangkok, Thailand. “It’s important, however, that you seek advice and investigate further before jumping onto investment trends like these, or you may find yourself doing do to your own detriment”.
Snapchat IPO is valued at $22 billion! Bitcoin now at $35,000!
These are the types of headlines that make people shake their heads at the thought of not having gotten in when they could have. Sensationalism has long been a tool of media outlets to bring in readers, even respected business news outlets.
Then there’s everything you hear through the grapevine at cocktail parties the world over- a friend of a friend quadrupled their initial investment on some avocado-coffee tree plantation or a crypto wallet wristwatch.
Sure, new advancements like Bitcoin are intriguing, but just how much of that groundbreaking spike in price is rooted in any form of actual value as opposed to mere speculation. Will the next cryptocurrency to come down the pipeline also enjoy such spectacular gains?
Who remembers Snapchat? The hype surrounding Snapchat had everyone feeling like they needed to get in on the action. Google wanted to buy it right out of the gates. Even Facebook had their noses in it.
So, when it IPO’ed at around $30 per share, it seemed like a sure thing. And yet, since then it has yet to see any real gains.
Consider the possibility that those investors who initially missed out on Google and Facebook IPO’s finally felt like they had another chance. Or perhaps they failed to look past the pie-in-the-sky valuations and weigh them against the actual streams of revenue and operations of the company.
Just because everyone else is doing something, doesn’t mean it makes for a smart investment strategy, not to mention the fact that in all reality, everyone else probably isn’t chasing after it the way you think they are.
We don’t rush out and buy a wifi enabled toothbrush just because it’s the latest trend among out friends, and our investment strategies should certainly be no different.
While it’s entirely possible that the next cryptocurrency could actually be a sound investment opportunity, it’s important that we take the time to do our due diligence before jumping in. That’s why it’s imperative that you contact a trusted financial advisor like Richard Cayne before letting FOMO get the better of you.
Richard Meyer Cayne of Asia Wealth Group Holdings, the Meyer Group, Meyer Asset Management and Meyer International Ltd has been involved in wealth management planning for decades. Originally born in Montreal Quebec, Canada, he later relocated to Tokyo, Japan for over 15 years and now resides in Bangkok, Thailand. While he runs the Meyer Group and serves as the high credibility CEO of Asia Wealth Group Holdings Ltd, a London, UK Stock Exchange-listed Financial Holdings Company, as well as the Managing Director of the Meyer Group of Companies www.meyerjapan.com. and has additionally been the managing director of multiple organizations that specialize in helping high net worth individuals with succession planning .
Having worked with clients all over the globe with everything from portfolios to bonds to mutual funds to offshore investing to investing in retirement for your golden years, Richard Cayne of Meyer International can help you invest the right way and protect your cash. Richard has been a financial advisor involved in wealth management planning solutions and asset management in Asia for over 25 years and while living in Tokyo, Japan, he assisted many high net-worth Japanese families create innovative international tax and wealth management planning solutions. The financial holding public company of which he is CEO can be seen at Asia Wealth Group Holdings Ltd or the stock exchange link:
Asia Wealth Group Holdings Ltd – Richard Cayne Thailand. Meyer Asset Management Ltd has been in the wealth management space since March 2000 and uses fundamental analysis along with modern portfolio theory.
His image worldwide as a professional advisor has been sterling and he maintains a firm command and understanding of all things finance-related.