2025 CFA Level I Exam: Topic 9. Portfolio Management - Learning Module 5. The Behavioral Biases of Individuals

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	1. Categorizations of Behavioral Biases compare and contrast cognitive errors and emotional biases
	2. Cognitive Errors discuss commonly recognized behavioral biases and their implications for financial decision making
	3. Emotional Biases discuss commonly recognized behavioral biases and their implications for financial decision making
	4. How Behavioral Finance Influences Market Behavior describe how behavioral biases of investors can lead to market characteristics that may not be explained by traditional finance

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