Mr. King is a single, 45-year-old corporate lawyer. He earns annual salary of $400,000. His current investment portfolio is worth approximately $3.5 million. It reached this value because of his previous high-risk technology investments. Mr. King is a quick decision maker and very confident about his investment selection.

Based on your knowledge on behavioural finance, please identify Mr. King's primary biases and list your strategy to advise Mr. King