Christine and Thomas Devine live in the UK. They currently rent an apartment in North London. They have decided to engage you as a financial adviser to assist them with financial planning. In the initial meeting with you, Thomas makes the following statements, which you describe clearly in your notes: 1. "I have used the Internet extensively to research the UK housing market over the next five years and believe that now I is the best time to buy a house."

2. "I do not want to sell any bond in my portfolio for a lower price than I paid for it."

3. "I will also not sell any of my company stock because I know the company well and believe it has excellent future growth prospect."

For each of these three statements: a) Identify the behavioral factor that you believe underlies Thomas' view and b) Briefly (minimum two to three sentences) explain how that underlying factor is influencing the Devine's investment decision-making.