When looking at a prospect's portfolio, you notice that certain positions are significantly under water, have much higher risk profiles and have been held for much longer than normal. You also notice that the trading volume has decreased by more than 40% during the past year. 

a) Name the Bias 

b) Identify whether it is cognitive or emotional 

c) Describe a problem or mistake it leads to 

d) Share one piece of advice that can help the investor

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