Remember when people thought Beanie Babies were going to make them rich? The craze may seem ridiculous now, but the investing behavior behind it is still very much alive. In this episode, we look at what the Beanie Baby bubble can teach us about speculation, FOMO, and the temptation to chase the next big thing. From dot-com stocks and crypto to meme stocks and NFTs, the investment may change, but human behavior often doesn't.
In this episode, you'll learn:
Why speculative bubbles keep happening
How to tell the difference between an investment and a fad
Why FOMO can lead investors to make costly decisions
What Beanie Babies can teach us about today's hottest investment trends
Why diversification, disciplined saving, and patience matter more than finding the next big thing
How a long-term financial plan can help keep speculation from derailing your retirement goals
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