How FOMO is wrecking investing

Investment Perspective - The majority of investors consider themselves long-term investors, but their actual time horizon often reflects a much shorter period, typically around one year or less [1][2] - Historically, a more accurate definition of long-term investing would be a time horizon of at least ten years to effectively ride out market cycles and achieve favorable odds of success [3] Behavioral Insights - Fear of Missing Out (FOMO) has become a significant issue in investing, exacerbated by the rapid dissemination of information about others' financial successes [4] - Engaging in FOMO leads investors to outsource their critical thinking to others, which can be detrimental as those they follow may not have sound judgment [5] - Constantly chasing perceived financial success of others can hinder one's ability to achieve long-term financial well-being [5]