According to the Theory of Recency Bias, Investors Tend to Believe

According to the theory of recency bias, investors tend to believe that the financial markets will:

A) revolve around their long-term average performance.
B) react over the next year in direct opposition to the performance of the prior year.
C) have a maximum of 4 years of positive annual returns.
D) continue to perform as they have over the past couple of years.
E) have an average return for the next 3 years that equals the average return for the past 30 years.