On August 4th, I wrote about two companies, Aston Bay Holdings ($BAY.V) & Aurania Resources ($ARU.V), that I FOMO'd into without performing sufficient due diligence. In my piece, I mentioned that FOMO was one of the top mistakes investors feel they have made and that it rarely ends well.

Fortunately for me, Aston Bay proved to be a lucrative play as the stock had a meteoric rise over the past week. I was fortunate to enter at $0.09 and take back my initial investment and a little profit at the $0.25 mark and now I am quite content to let the rest ride and hope the drill bit will eventually prove what many are suggesting - that this is a significant discovery.

My lack of knowledge regarding the company's history caused me some embarrassment on Twitter, when an insider cashed in some options that were set to expire, and my knee-jerk reaction was to tweet I would be selling on Monday. Regardless of my profit, it was a valuable lesson on the dangers of investing without having sufficient knowledge first. I consider every mistake I make to be a learning experience, and if others can learn from my mistakes, then all the better as far as I am concerned! As Samuel Levenson said, "You must learn from the mistakes of others. You can't possibly live long enough to make them all yourself."

Gratitude to @ceotechnician & @ericcoffin_hra on Twitter who were gracious enough to set me straight regarding my tweet (without making me feel like a complete loser)!

Those that know me well are aware of my issues with insomnia, and I slept for over 11 hours that night (usually I'm grateful for ~5 hours), so clearly some exhaustion contributed to a lack of clarity - normally I would have investigated those SEDI details much deeper before tweeting any commentary. No excuses, I'm on a public forum and should know better than to tweet when I am tired, but if there is one thing I try and remember when interacting with others, it's this:

FOMO is a dangerous impulse investors need to overcome; I did find these poll results rather interesting as "hours" to me personally indicates I'm FOMO'ing in:

I will be posting some of my research regarding Aurelian shortly, but to sum that one up: I'm glad I took a small position and am eager to see where that one goes as well - but as I dug deeper into the company, I definitely became more aware of the risks involved that weren't so apparent at first.

FOMO is a powerful psychological force. If you struggle with overcoming it too, I would suggest reading an article like the one below the next time the urge strikes - because sometimes it takes a stranger's wisdom to talk us down from the ledge:

I'm happy to see that my BAY mistake has inspired some discussion on Twitter and I hope it will give you some food for thought too, because I suspect we are all guilty of an impulsive buy at one point or another.

A reminder to us all that if you learned from it, then it wasn't a mistake.

Enjoy the rest of your weekend!

My original post on the two companies:

https://commonstock.com/post/14941f58-ad71-4f83-8c29-ce4b95c98bd4 by @jennymanydots