Photo by Johann Walter Bantz on Unsplash
“I should have bought more Bitcoin.”
“I wish I had put all my savings into Doge.”
“I made a mistake not going all in on Tesla.”
These are just few of the texts I have seen from friends and people online. So many people talking about missed opportunities. I have to write this post again even though I have written about this here. People will like they missed out on gains, so they will have the tendency to go all in so that they don’t miss out. Instead of taking diversified bets, we feel that we could’ve gone all in. And that is okay. It is human. The problem is, we don’t know what will “go to the moon”. No one, no one can predict what investment would be going up 100%, or 1%. If you didn’t go all in one something, it is rational. It is okay. You are not missing out. Let the people who are making gains have fun.
The problem is you may lose all your money if you decide to take risky bets. I know the conventional advice is that you are young, you can take high risk bets and you will be fine. It is not bad advice but if you lose your money by YOLO’ing on Dogecoin, it will discourage you from investing again in good things. Money is hard to come by. People will think all this mania was a sham. You can’t keep finding opportunities that will go 100% up in 2 days. It does not happen. It is not sustainable.
You are in this for the long haul. You want to be the guy/girl standing even after 10–15 years, not just make quick bucks. That is where the focus should be. There will be plenty of missed opportunities, but there will always be new. It is the game. Make sure you don’t get discouraged by losing money on risky investments and not coming back because that is the biggest loss. Be the last man standing. It is a marathon. Take risks, but don’t put all your money in one thing which you don’t understand. If you make money making diversified risky bets, that is great. But be prepared for the case you may lose.
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