Jack Sparrow, a Vancouver-based investor, had a fascination for Seven Generations Energy Ltd. shares. He bought 200 shares of Seven Generations Energy during the IPO for $21 on October 30, 2014. During July 2015, the share price fell below $14 for the first time. Jack was not willing to sell the shares below the purchase price and he decided to wait for the price to climb up. Explain the behavioural finance concept Jack is exhibiting and how this is influencing his decision making.