I think SCU makes for a good case study on just how powerful FOMO really is.
The threads where full of posts suggesting it's a bad idea to buy , MC is high , the ann was nothing solid , SCU had no money & all from a few respected posters too.
But FOMO was to strong & now has left a fair few newbies out of pocket posting supposed info on why SCU is good or saying they have lost out.
What i get out of this is that price action is what draws in FOMO buying.
This does not only apply to shares , it applies to everything in life. The 71 Ford XY GTHO phase 3 had a price tag of about $80k in 2000 , by 2007 headlines where quoting sales above $600k & a rear example even going just under $1 mill.
The hype was huge at the time , nearology had non GT examples shooting up in price & then came the bunt in price for all vintage muscle car's no matter what year or make.
Just after the GFC , XY's took a tumble from lofty highs & you could of picked up one for under $300k , prices still haven't recovered since that FOMO buying.
The tulip bubble is probably the best example of FOMO , tulips had value of more the houses at it's high , also ended badly with heaps of people getting burnt.
Do we feel like if we are not part of the action that we are missing out on something special or do we just lose all ambition & logic when we see something gaining in price so much..
