It was the dot.com implosion of the stock market when I started in the business as a financial advisor and people were coming off a massive stock market crash. One that was preceded by people piling into tech stocks and tech stocks mutual funds. Some people who retired in 1999 had to return to work in 2003 as a result.
Then in 2007 I remember many people calling me because they wanted to liquidate their portfolios and buy property, their neighbors house, or the bare lot across town. Just like tech stocks of 1999, real estate of any kind was a “no lose” investment people just had to have in 2007.
In both cases the result was disastrous. The term FOMO, or the Fear of Missing Out, was coined in 2004 as a result of trying to understand why people pile into things at the worst possible time. It is our visceral reaction to seeing something doing well, fearing we should have a piece of that action, and then subsequently deciding to seize it right before a massive correction.
Mike Dever from Brandywine recently wrote in his article Ring the Bell, “FOMO is not a strategy. It is a tax that gets paid by emotional people to rational investors.”
To be honest with you, right now, this very moment in time 2025, is feeling just like that. So much so I have been consulting with my peers and friends in the business, and yep, they too are seeing the same thing I am. Some people are starting to think they should be more aggressive. They should buy gold (reached all time historic highs in 2025) or heaven forbid Bitcoin (reached all time historic highs in 2025) or one of the magnificent 7 as they call them (every single one has reached all time historic highs in 2025).
People want to abandon their plan and rush to grab outsized returns before they go away, or they wrongly believe the fun will never end. “This time is different” being their mantra. I’m going to be harsh here, but they will all most likely lose their shirt in the process. Some people just don’t seem to learn from past mistakes.
It is why TenBridge Partners works so hard to refocus our clients on what is most important, sticking to their plan and not deviating from what is tried and true while working toward their ultimate unique goals. We don’t talk about the market very much or excessively focus on investments here. We buy quality, we stick to the plan, and we focus on what is important – you.
In my career I have helped hundreds of people achieve their goals and live wonderfully through their retirement and end of life. It has never been achieved by buying the hot stock or jumping onto a passing fad. It has been achieved by meticulous work and a step-by-step proven process.
While all these historic heights are being achieved, there is much to be concerned about. People taking outsized risks or responding to FOMO the least of them. For example, our income and wealth gaps are larger than they have ever been. Healthcare premiums are skyrocketing. Housing costs are outpacing income growth. Federal debt is growing fast and just the interest payments alone are getting hard for our country to afford. These in and of themselves aren’t reasons to panic, but they are reasons to take a short breath to calm the mind and look at the investment landscape with critical eyes and a slant toward high quality.
TenBridge Partners is growing like crazy and we love it. You have entrusted us with people you care about and want to see succeed, your referrals a reflection of the love and care you have for those you know will benefit from a solid financial plan. We know there are more people out there who need us, who need a calming voice and a clear path forward.
Everyone needs a financial plan AND they need to stick to it.
We may or may not be on the verge of a major market correction, but we are overdue for one and the writing does seem to be on the wall. Something out of the blue could change, both for the positive and the negative. You can’t predict these things. So, what is the best course of action? Sticking to your plan.
Lee Colan said it best: “A good plan gets you into the race, but sticking with it propels you into the winner’s circle.”
We have looked at our investment strategy here at TenBridge with a critical eye and thorough questioning. We like what we see, and we are going to stick to the plan. We don’t want you to make changes either and if you are feeling FOMO or fear, reach out and we can talk about it.
Many of you went through dot.com and 2008 together with us. Those were painful times; we remember them well. I fully anticipate we will go through similar times together again. But what worked in those times will work in the times ahead, and we are here to go through them with you.
Every client at TenBridge Partners has a strong successful financial plan; a strategy to fully embrace and enjoy the good times and to weather the bad times. With our mutual clear understanding of the future and how to achieve your goals, it makes the little bumps along the way no more annoying than turbulence on our vacation airline flight path. The only chance of failure being ourselves and deviation from the plan.
Part II of this missive is coming soon. It will be a summary of our investment review authored by Scott Thurman.
From the desk of
Erik Lawrence CFP®
The information contained in this correspondence is intended for general educational purposes only and as a means for facilitating a conversation. Please consider our door always open to discuss your particular situation and how this information might benefit you and fit your specific needs.