As every investor knows, buy low, sell high is the way to generate profits in the securities markets. Nevertheless, a lot of (retail) investors are rather buying high and selling low. But why do these investors act this way? From my point of view these investors are driven by greed and fear. They invest late in a trend or in a security with a high upward momentum as they think this trend or momentum will continue and they want to participate from the exceptional return pattern from the past (greed = fear of missing out/FOMO). Unfortunately, past returns are no