Question $40(2\mathrm{.}5$ points$)$

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John Bell, a money manager at a large regional investment firm, has been outperforming the market for several years. He's considering a large investment in Stock Q because the company's last three product introductions sold poorly. He thinks the company is well managed, but just had bad luck recently. He sorted through several analyst reports and found two that support his opinion. If he buys the stock, which behavioral mistakes may he be making?

Overconfidence.

Anchoring.

Gambler's fallacy.

Confirmation bias.

$2$ and $3.$

$1$ and $2.$

$1,3$ and $4.$

$1,2,3$ and $4.$