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An old Wall Street saying is 'Cut your losses and let your profits run.' However, investors often do the opposite. It seems that people are reluctant to admit they made a mistake in purchasing a stock that subsequently performs poorly. This behavior is most consistent with:

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An old Wall Street saying is 'Cut your losses and let your profits run.' However, investors often do the opposite. It seems that people are reluctant to admit they made a mistake in purchasing a stock that subsequently performs poorly. This behavior is most consistent with:






 
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