论文标题
共同19日大流行期间投资者的内心：来自Stocktwits数据的证据
Inside the Mind of Investors During the COVID-19 Pandemic: Evidence from the StockTwits Data
论文作者
论文摘要
我们利用社交媒体投资平台上的大量投资者\ textit {stocktwits}研究了对股票市场回报的投资者信念，情感和分歧。 Stocktwits数据的丰富和多模式特征使我们能够探讨投资者，部门甚至行业之间情感和分歧的演变。我们发现，在所有投资理念，地平线和2020年3月23日之间，所有投资哲学，地平线和经验的情感（分歧）都急剧下降（增加），在那里，历史市场高涨，然后是创纪录的下降。令人惊讶的是，这些措施在3月底之前有着急剧的逆转。但是，这些措施在各个部门的表现都是异质的。财务和医疗保健部门分别是最悲观和乐观的部门。
We study the investor beliefs, sentiment and disagreement, about stock market returns during the COVID-19 pandemic using a large number of messages of investors on a social media investing platform, \textit{StockTwits}. The rich and multimodal features of StockTwits data allow us to explore the evolution of sentiment and disagreement within and across investors, sectors, and even industries. We find that the sentiment (disagreement) has a sharp decrease (increase) across all investors with any investment philosophy, horizon, and experience between February 19, 2020, and March 23, 2020, where a historical market high followed by a record drop. Surprisingly, these measures have a sharp reverse toward the end of March. However, the performance of these measures across various sectors is heterogeneous. Financial and healthcare sectors are the most pessimistic and optimistic divisions, respectively.
