Pragmatic Capitalism has the article IDGAF > FOMO.
We’re now entering silly season in the markets. People are buying cryptocurrencies that no one understands and have very little actual utility. People are chasing stocks higher on a daily basis. Emerging market stocks, tech stocks and all the other riskiest parts of the stock markets are the biggest winners of the year. And a large part of this is due to FOMO – Fear Of Missing Out. After 8 years of straight up stock market gains, rising home prices and now a crypto boom like the world has never seen, there is a palpable feeling of irrational exuberance overtaking the markets.
This is the thinking that kept me safe while others were going crazy over the tech bubble of the 1990s and the real estate bubble of the 2000s. I am trying like heck to keep myself safe in the current bubble. Only time will tell if I will succeed. Another name for what I try to do is called value investing.