Problems with behavioral finance include:

The behavioralists tell us nothing about how to exploit any irrationality.

The implications of behavioral patterns are inconsistent from case to case, sometimes suggesting overreaction, sometimes underreaction.

As with technical trading rules, behavioralists can always find some pattern in past data that supports a behavioralist trait.

Multiple Choice

$2$ only

$1$ and $3$ only

$1$ only

$1,2,$ and $3$