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šŸ§  Brain Hacks: FOMO, greed and where we go wrong as investors

In this episode Kate Campbell & Evan Lucas are talking about the fear of missing out, what causes investing manias, and how badly things can go when money and greed mix.

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About this episode

Have you ever felt FOMO when it comes to your finances?

Do you compare your finances to other people you haven’t even met?

Do you think this has affected your decision-making process?

On today’s Brain Hacks episode, Kate Campbell and Evan Lucas discuss the fear of missing out, what causes investing manias, and how badly things can go when money and greed mix.

āœ… What can we do to mitigate or overcome these biases?

  • Beware of stock tips, forums, media, spruikers
  • Come back to your investment plan
  • Long-term investment horizon
  • Can you explain what the investment product or company does to a friend?
  • More complex doesnā€™t equal better returns
  • Work on ways to be happy with our own journey and not constantly compare our finances to our friends and people on social media

In our latest series, “Brain Hacks with Kate Campbell & Evan Lucas”, the duo discusses common behavioural biases impacting our financial futures and strategies to combat them. Just look for the šŸ§  episodes every Wednesday.

šŸ™‹šŸ½ā€ā™€ļø ASK KATE & EVAN A QUESTION: https://bit.ly/3QtiY00

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At the time of publishing, the author of this article does not have a financial or commercial interest in any of the companies mentioned.

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