Read the following quote from Peter Bernstein, a financial historian and author of Against The Gods: The Remarkable Story of Risk,

You never get poor by taking a profit. It would follow that cutting your losses is also a good idea, but investors hate to take losses, because, tax considerations aside, a loss taken is an acknowledgment of error. Loss-aversion combined with ego leads investors to gamble by clinging to their mistakes in the fond hope that someday the market will vindicate their judgment and make them whole.

Please use 50-100 words to comment on the connection between the above quote and the prospect theory developed by Kahneman and Tversky.