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CFA Level 3
Portfolio Management and Wealth Planning

Behavioral Factors in Private Wealth Management

Very Easy Private Wealth Management Behavioral Factors

Mark is a private wealth manager who has been observing his client’s behavior during investment discussions. He notices that his client often expresses hesitation about investing in equities due to a recent downturn in the stock market. Mark suspects that his client's behavior is influenced by a common psychological bias. Which of the following behavioral factors could be affecting Mark's client’s investment decisions?

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