Consider the concept of behavioral finance and three examples of behavioral biases that you might have read about, namely anchoring, recency and overconfidence.
a) Briefly describe each of these three biases.
b) Explain the investor behavior that each of these biases lead to.
c) What market anomaly does each of these biased investor behavior result in?
d) How would a fund manager exploit each of these market anomalies to his/her benefit?