Cutting Through the Investment FOMO | AWM Insights | Financial and Investment News

Are there days you feel like everyone is making money, except for you? The stories of friends turned day traders, the insane rise of the NBA’s Top Shop NFT (non-fungible tokens) craze and of course, Bitcoin skyrocketing can leave even the most seasoned investor with a bit of FOMO.

Open Twitter, Reddit or YouTube and everyone is spewing advice on what to invest in next.  In this information age, there is practically an infinite number of places and people giving financial advice.

As Warren Buffett famously says, “It’s only when the tide goes out that you learn who has been swimming naked.”

Everyone appears to be an expert until they’re not. How do you know who to trust? We breakdown the answers in this week’s podcast.

Episode Highlights

• (02:33): Where are you getting your advice? What are their incentives?
• (04:32): Study of where people go to for their investment advice
• (08:32): Questions you should ask before accepting advice
• (15:50): How to conduct real due diligence on investment advisors
• (22:04): Advice every investor deserves