A number of behavioral finance theories posit that investor's belief adhere closely to new information. Adopting the prospect theory, the belief adjustment theory and the regulatory focus theory, this paper explores hypothetic linkage between information and investment belief. With the 2×2×2between-subject factorial experiment design, this study investigates six hypotheses. 313 senior and graduated students from business school participates the experiment. The results indicate, first, that the nature of information, information sequence and presentation framework influence the investment belief of subjects. Second, subject's orientation of regulatory focus affects the attitude toward information interpretation as well.