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The Art of Understanding Investor BehaviorInvestment management is not just about crunching numbers and analyzing data; it is also about understanding the human element. Behavioral finance and decision theory play a crucial role in this process, as they delve into the psychological and emotional factors that influence investment decisions. By studying these concepts, investment managers can gain valuable insights into why investors behave the way they do, and how to navigate the complexities of the market.The Influence of Cognitive BiasesOne of the key aspects of behavioral finance is the study of cognitive biases, which are inherent flaws in human decision-making.…