Because of a boom in technology stocks in the late $1990$s$,$ even

novice investors experience huge growth in their portfolios. As

technology stocks kept going up$,$ many investors believe that their

successes was due to their stock$-$picking ability rather than

unsustainable growth in one sector of the economy. The result for

many was huge losses. This scenario illustrates the concept of

overconfidence bias.

availability bias.

confirmation bias.

anchoring$-$and$-$adjustment bias.

representativeness bias.Because of a boom in technology stocks in the late $1990$s$,$ even

novice investors experience huge growth in their portfolios. As

technology stocks kept going up$,$ many investors believe that their

successes was due to their stock$-$picking ability rather than

unsustainable growth in one sector of the economy. The result for

many was huge losses. This scenario illustrates the concept of

overconfidence bias.

availability bias.

confirmation bias.

anchoring$-$and$-$adjustment bias.

representativeness bias.