Hank Schmidt is a wealth manager based in Estevan, Saskatchewan. On September $20$th he bought $400$ shares of Estevan Minerals and Melfort Technology Limited. September $21$st turned out to be a big day in the markets $-$ on that day Estevan put out a press release stating that the company would have to write down the value of its rare earth deposits at its Southern Saskatchewan mine. On the same day Melfort won a patent lawsuit worth $$50$ million. As a result of these news items Estevan's share price went down by $22\%$ and Melfort's share price rose by $20\%.$ Hank often told people that his excellent research led to his investment in Melfort Technology. He did not go on to mention that his research consists of watching 'Squawk Box' on CNBC$.$ Hank also says that the drop in share price at Estevan Minerals was nothing to worry about. After all, he and his company had invested a large amount of capital in a good stock, so eventually the value would have to climb again. Explain the behavioural finance concepts Hank may be exhibiting and how this is influencing his decision making. give ctation and references