“BERTAHAN ATAU MUNDUR?”: ANALISIS PERILAKU DAN MINDSET INVESTOR DI TENGAH MARKET CRASH DAN PANASNYA ISU GLOBAL

Abstract

This study examines investor behavior and mindset during extreme market crashes and global uncertainty in the VUCA era (Volatility, Uncertainty, Complexity, and Ambiguity), with the aim of understanding how investors respond to intense market pressures such as the decline of the IHSG in early 2026 following MSCI index rebalancing. The research employs a quantitative method with descriptive and explanatory approaches, using primary data collected from 63 active investors through purposive sampling. The findings indicate that Indonesian investors demonstrate relatively high macroeconomic awareness, with 55.6% recognizing economic instability. Despite market volatility, 58.7% of respondents remained consistent with their investment strategies, while 50.8% viewed price declines as opportunities, commonly referred to as “buy the dip.” Furthermore, the results suggest an improvement in financial literacy, as investors become more independent, less influenced by FOMO (44.4%), and better able to manage their emotions, thereby reducing the likelihood of panic selling. Overall, Indonesian investors show strong psychological resilience and critical thinking in navigating market uncertainty.