Inside the Mind of a Stock Market Crash

@article{Giglio2020InsideTM,
  title={Inside the Mind of a Stock Market Crash},
  author={S. Giglio and M. Maggiori and J. Stroebel and Stephen P. Utkus},
  journal={Mutual Funds},
  year={2020}
}
  • S. Giglio, M. Maggiori, +1 author Stephen P. Utkus
  • Published 2020
  • Economics
  • Mutual Funds
  • We provide a data-driven analysis of how investor expectations about economic growth and stock market returns changed during the February-March 2020 stock market crash induced by the COVID-19 pandemic. We surveyed wealthy retail investors who are clients of Vanguard in mid-February 2020, around the all-time stock market high, and then again on March 11 and 12, after the stock market had collapsed by over 20%. The average investor turned more pessimistic about the short-run performance of both… CONTINUE READING

    References

    Publications referenced by this paper.
    SHOWING 1-10 OF 16 REFERENCES