We investigate the impact of informal peer conversations on investment decisions and examine whether a longer evaluation time frame for investment returns can partly solve the stock market participation puzzle. In a framed lab experiment within the context of incentivized investment decisions, participants engaged in conversations of varying nature (bearish, bullish, placebo) and considered different time frames for investment returns (1 year or both 1 and 5 years). We find that both bearish and bullish conversations decreased the likelihood of investing in risky assets, with a stronger effect on moderately risky assets. The unexpected conservative investment behavior observed in response to bullish conversations was predominantly driven by female participants. Additionally, incorporating a longer-term perspective on investment returns increased the likelihood and average investments in risky assets, hinting at a potential mitigating mechanism for the stock market participation puzzle.