For most readers, “FOMO” or “fear of missing out”, might be a phrase you’ve heard bandied about the homestead by your millennial teenagers as they head off to university and is formally defined as, “a feeling of anxiety that an exciting or interesting event may currently be happening elsewhere”. Whilst there is no formal recognition that FOMO exists in the professional world, if you asked any investor they would certainly agree that stock market participants share the same fear of missing out as that of their children. If we were to link FOMO to a stock market term, then it would be called a “crowded trade”.

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