Investment Bias in Millennial New Investors (Phenomenological Study of Millennial Generation in South Tangerang City)

Habiba Alfiani, Mirwan Surya Perdana


This pandemic turned out to bring good news to the investment world, where the increase in the number of investors occurred very significantly. However, some time ago JCI experienced a decline caused by investor panic, based on this it is known that psychological factors also deserve to be considered in line with the increase in the number of investors that occurred. This study aims to find out what millennial investors consider, especially in the city of South Tangerang, in their portfolio strategy decisions which include buying, selling and retaining, as well as knowing what biases are in these decisions. This research uses qualitative methods with a phenomenological approach, with the research subjects as many as 10 new investors who belong to the millennial generation. The results of this study show that this millennial investor shows that both emotional and cognitive biases exist in the process of determining the decision of this millennial generation portfolio strategy.


behavioral finance; emotional bias; millennial generation

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This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.