Why does FOMO behavior/ "herd" investing behavior/ desire to get rich quickly/ always appear in each of us?
- In each of our minds there always exists something called the ego. The greedy ego/desire to surpass others in terms of money and fame. That is "more" in a materialistic society.
That's not necessarily a bad thing because it is this "better" quality that helps people always try to work and be creative, helping society grow stronger and material life improve.... Like the implication of Dow theory, to have a stronger development cycle, there needs to be a struggle, an adjustment, a "pull back" in a trend.
But everything has two sides, especially when we use them in an ignorant mind.
Maybe few of us observe our own minds and realize: "WHEN WE SEE SOMEONE GET RICH. THAT WE FEEL POOR.â Although, we are still living in a life with that salary, still driving that car every day, still eating 3 meals, still sitting at that coffee shop, our wife and children are still in good shape. One of those strange things about the human mind that has always been like this.
Because of this "strange" psychology, from there arise "wants" that do not belong to us.
We begin to have the behavior of "being curious about other people's lives", "finding out what they are doing", or "WHAT IS HE INVESTING TO GET RICH SO FAST"... greed, anger, and ignorance begin. The head forms invisibly in the mind.
And to let the feeling of "WE FEEL POOR" stop, replaced by "WE MUST BE RICH LIKE SOMEONE, WE MUST EARN MORE... then we start to invest money unnecessarily." reason such as:
- Buy stocks carelessly
- If you see someone shouting about a coin/token, buy it.
- When you see someone buying a bond, you also rush to buy that bond.
- When you see the media reporting something, you buy it more.
- Desire for high interest rates to deposit in capital raising companies...etc...
And investing without knowledge/without understanding/in an unconscious herd manner.
And the thing "WE FEEL SO POOR"
Always remember: in investing, WEALTH IS NOT FOR THE MOST.