Summary: Seeing others (apparently) get rich creates pressure to join, and makes caution look like cowardice. FOMO, amplified by social media and frictionless brokerage apps, is what “killed” South Korean retail portfolios in 2026. It also inflates bubbles: in the AI boom, merely adding “AI” to a company’s name attracts money, and leveraged AI ETFs appear, not because it’s justified but because investors fear missing the gains.

Key ideas

Disagreements & open questions

Takeaways

survivorship-bias · leverage · market-bubbles