1. Explain the investing process. What is asset allocation? What criteria are used to determine asset allocation decisions? Explain each criteria and how the criteria will influence the asset allocation decisions. Once an asset allocation decision is made, how do we proceed to security selection? That is, how do we determine which securities to include in our portfolio 2. Identify and briefly explain two of the behavioral biases we discussed in class and provide examples of how those biases influence your behavior or the behavior of others. 3. Explain how JP Morgan attempts to exploit investors behavioral biases. What two biases do they focus on. How do they implement strategies to take advantage of the biases? As JP Morgans behavioral offerings increase in size (amount of funds invested by investors), what would you expect to happen to the profitability of their investments? Will they become more or less profitable? How or why? 4. What is meant by valuation by comparables? What is the purpose of comparing valuation levels of multiple companies? Please provide an example of how you might use the valuation by comparables approach