Amanda Jones is a London-based investment adviser with a clientele of ultra- high-net-worth individuals in the UK, the US, and the EU. Within the equity portion of her portfolios, she rarely deviates significantly from the country weightings of the Morgan Stanley Index, even though more often than not she tilts the allocation in the right direction. Hence, she can claim a good tactical track record despite having added little value in terms of return through tactical allocation. Because most investors have an implicit home bias, her European clients tend to view their portfolios as significantly overweight the US (nearly 50% of the index) and are happy because the US market outperformed the Morgan Stanley ex-US Index by about 4% per year over the 10 years ending September 2018. Conversely, her US clients are unhappy because Amanda persistently projected US outperformance but maintained what they instinctively perceive as a significant underweight in the United States. Citing year-to-date performance as of 28 September 2018US up 9%, Morgan Stanley Index ex-US down 1%, with 10 of 15 European markets down in local currencies Amandas US clients are pressuring her to aggressively increase allocations to US equities. Although experience has taught her to be wary of chasing a strong market, Amanda vividly remembers losing clients in the late 1990s because she doubted that the explosive rally in technology stocks would be sustained. With that in mind, she has looked for and found a rationale for a bullish view on US stocksvery robust year-to-date earnings growth. Required Explain the psychological biases Amanda and her clients are exhibiting?