The acronym for the “Fear of Missing Out”, FOMO, within the field of investing, pertains to the feeling of anxiety on missing out on what an individual or the market thinks to be a potentially lucrative investment. It is seen by many analysts to be the most challenging of all FOMOs to conquer. This term is used by individuals who spend everything they have to purchase the most recent or popular item or experience without being prudent or regard for one’s finances. Investment FOMO is thus chasing an investment that had already risen by 1,000%.
FOMO drives people to fall into revolving credit card debt, making credit card hawkers richer than they deserve to be, and those suffering from it impoverished. According to recent studies, FOMO is the primary reason why there is unhappiness among a number of people despite not being economically-challenged.