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Bernard and Rebecca Moore both age 4 5 , are meeting with their financial advisor, Mike Lenard. The couple own shares in ConnectNet, a social
Bernard and Rebecca Moore both age are meeting with their financial advisor, Mike Lenard. The couple own shares in ConnectNet, a social media company. ConnectNet has experienced five years of earnings growth above the media industry average. However, in the three most recent months, ConnectNet's earnings have been below analysts' expectations. Bernard believed that the shortterm earning fluctuation reflected the "real potential" of this media firm, and he suggested selling ConnectNet.His wife Rebecca disagreed, she wanted to keep ConnectNet in their investment portfolio, because the social media industry is constantly growing, and ConnectNet had performed very well during the last five years. Lenard presented his research conclusion to the Moore, and advised them to keep ConnectNet in the portfolio. what kind of bias does Bernard's investment decision regarding ConnectNet reflect and explain why?
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