Identifying Cognitive Bias in Active Equity Investing

Jane is a senior portfolio manager at an equity fund, focusing on active equity investing. Recently, she has been reviewing her investment decisions and noticing patterns in her and her team's behavior. She is particularly concerned about the cognitive biases that could be impacting their investment choices. She believes that understanding these biases is crucial to enhancing their performance. Given this context, which of the following cognitive biases is most likely to lead Jane and her team to overreact to recent poor performance of a stock?