If fear of missing out (FOMO), the much-celebrated and somewhat over-used moniker that investors are bombarded with, ever finds a distant cousin, it would surely be pleasure of missing out (POMO). Whether we perceive it clearly or not, the rough-and-tumble world of retirement planning constantly exhibits many forms of POMO. Retirees and soon-to-be retirees sometimes delay gratification and wait for the right signals to arrive on the horizon before they zero in on allocations. In the retail investments space, POMO has a particularly large following. ‘Missing Out’ is a strategic move that seasoned participants practise with regard to initial offers of all sorts—initial public offerings (IPOs) and new fund offers (NFOs) are prime examples. But not all primary issuances tempt them right at the beginning. Over-arching valuations, for instance, often keep the retirement-minded away from such offerings. Participation is also determined by principles of asset allocation. If one’s risk profile does not permit a certain kind of investment, one needs to stay away from...