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For investment-related decisions, the foremost critical factor is the speculator's recognition and response. For a private speculator, basic leadership process could be viewed as a constant process which has significant impact of the brain science while making purchase choices. In traditional financial theory, the investors are likely to be logical decision makers going along with the expected energy theory. Behavioral finance, in contrary to this, criticizes the logical viewpoint and it is argued that the investors have a tendency to deviate from rationality when they make purchase choices. Several behavioral biases that could happen in investment decision making over the historical past have been reviewed in this research paper.