Investment Decision You recently start to work as an investment adviser in Ulster Asset Management, and during a meeting you suggest your client, Mr Malone to invest in around 30 equities drawn from several industries. He told you that "I trust my stock-picking ability and believe that l should invest my funds in the four best ideas. Why invest in 30 companies when I can identify the four best projects?" Critique his statement. In reality, investors do not always process information correctly. Discuss the behavioural biases in this category. Discuss the investor irrationality related to regret avoidance, as well as its impact on size and book-to-market effect