Source: Assassin at Night
This is a wonderful opinion article about stock investment by the derivatives tycoon "Assassin Night Walk". But it is also applicable to the crypto industry, especially for players who are new to crypto investment.
The following is the text of "FOMO and Derivatives":
Since the millennium, the most profound change in social development has been FOMO.
FOMO, fear of missing out, fear of missing out.
What are you afraid of missing?
Afraid of missing the party, afraid of missing the event. Afraid of missing the wonderful moment. Afraid of missing the opportunity for promotion. Afraid of missing the best age for children's physical and intellectual development.
Deep inside, the biggest fear is missing out, which is not getting the best choice opportunity due to insufficient information.
FOMO has existed since ancient times, but it was not obvious in the past.
In an era without the Internet, everyone’s circle of friends was limited, and their channels for obtaining information were also limited.
The only people who can be compared are those around us and in our social circle.
After 2000, when social media became popular, FOMO suddenly broke out.
Things that you didn’t care about in the past because you couldn’t see them, you now know about them through WeChat Moments and Facebook.
You can see what the people around you did on the weekend, what fun places they went to, and what delicious restaurants they ate at.
You can see the achievements of your colleagues, or the various certificates their children have obtained.
You can even compare with anyone. The gossip about Wang Sicong and the Weibo of various celebrities all tell you about their private lives.
The danger of FOMO is that you compare your normal life with other people's highlights.
So you feel that your life is not exciting or that you have not achieved enough.
So it's painful.
Social media has created a platform, which sounds nicer called "showing off", but in fact it means showing off.
So everything started to be compared, including food, daily necessities, parties, travels, and even some inner feelings, parent-child relationships, husband-wife relationships, and sense of happiness, all became things that can be compared.
The most direct consequence of FOMO is that you can’t stop. The more you fear missing out, the more you keep checking social media.
The second thing FOMO brings, and the one that causes greater harm, is anxiety.
If I don’t go to a friend’s party, will I lose the opportunity to meet my future husband?
If I don’t attend a company event, will I lose the opportunity to meet the company’s senior management and get promoted?
If we don’t push our children to succeed now, will it delay their future success? Is it because they didn’t enroll in a certain after-school class that they will not be successful in the future?
If you are still living a tight life now, is it because you haven’t bought some investment products?
If I am unhappy now, is it because I am missing some self-cultivation course?
Behind every kind of anxiety, there is a corresponding business model.
Anxiety is the fishing line, and those who are willing to take the bait will be caught.
The most obvious example is the chicken baby industry.
This is because parents all suffer from FOMO, fearing that if they don’t work hard, they will fall behind and their children’s lives will be ruined.
If you don't study hard, you may not be successful in the future and need to go to cram school.
I study too hard and am afraid of becoming a nerd, so I need to take extracurricular interest classes.
Those who are good at liberal arts need to make up for the programming and cannot have any weaknesses.
Those who are good at programming need to improve their English, because everyone will need to know English in the future.
Those who are naughty should go to traditional Chinese studies, learn the Three Character Classic, the Rules for Disciples, and understand the relationship between ruler and subject, father and son.
I am afraid that I can't do it if I follow the routine, so I have to attend summer camp to develop independence.
No matter what kind of child he is, you can find out his shortcomings, add some sales talk, and use anxiety to achieve sales goals.
The same is true for the financial industry.
God says that if you don’t manage your finances, you will not only lose the opportunity for financial freedom, but also have disharmonious family relationships and be exhausted from working 996.
No matter how good a product is or how much it’s on promotion, the bonus will be gone after two days.
There are thousands of products on the market, but this is the one you can’t miss.
Isn’t that a coincidence?
Recently, there have even been a bunch of ETFs that are clearly designed to harvest anxiety.
For example, BUZZ. The core idea of investment is to follow the crowd without thinking, because you can’t let everyone get rich without you.
There is also FOMO: move in and out of trending areas. Just like buying trendy brands, buy whatever is trending.
FOMO has the greatest impact on long-term planning and self-awareness.
Every day we are overwhelmed by a large amount of information.
There is a lot of information, but without the ability to select and make decisions.
Without flow state, I can’t calm down and think about things.
The more anxious and frustrated you are, the more disappointed you are with yourself.
In the long run, the more you fear missing out, the more likely you are to miss out on everything.
