Are We Still In A FOMO Regime?

Are we still living in a FOMO regime? How would one go about determining such a thing? Those aren't random questions. At various intervals, you'll hear me talk about "fear of the right-tail," where than means market participants are more concerned about missing a rally than hedging downside. That's a fairly common occurrence in the era of unchecked gains for AI beneficiaries and generalized "sky's the limit" sentiment around mega-cap names which, notwithstanding antitrust litigation, are thou