Yeah, people are idiots, even smart people. They get blinded by the possibility of getting rich quick that they ignore the potential downsides.

I personally thought cryptocurrency would be big and considered buying some BTC when it was worth a few hundred. But then I stopped to think about it and decided it’s basically gambling that more people will jump on the bandwagon, so I’m basically profiting off suckers and betting that I’m not the sucker. So I steered clear. I followed the same logic for NFTs and other fads, and instead invested in broad index funds. I could’ve been rich, but I also could’ve lost it all by trying to time the ups and downs.

I’m happy with my decision. I’m on track for a decent retirement and haven’t had much financial anxiety.