Research Has Shown That Investors in the Stock Market Are

Research has shown that investors in the stock market are often subject to a small-numbers bias, meaning that they believe that:

A) the stock market is a zero-sum game, where long-term gains cancel out with long-term losses.
B) the likelihood of earning a steady positive return in the market over the long run is very small.
C) high returns over the past few years are likely to be followed by more high returns over the next few years
D) high returns over the past few years are likely to be followed by low returns eventually over the next few years.