By James Briggs, Data Scientist
The de-facto standard in many natural language processing (NLP) tasks nowadays is to use a transformer. Text generation? Transformer. Question-and-answering? Transformer. Language classification? Transformer!
However, one of the problems with many of these models (a problem that is not just restricted to transformer models) is that we cannot process long pieces of text.
Almost every article I write on Medium contains 1000+ words, which, when tokenized for a transformer model like BERT, will produce 1000+ tokens. BERT (and many other transformer models) will consume 512 tokens max — truncating anything beyond this length.
Although I think you may struggle to find value in processing my Medium articles, the same applies to many useful data sources — like news articles or Reddit posts.
We will take a look at how we can work around this limitation. In this article, we will find the sentiment for long posts from the /r/investing subreddit. This article will cover:
High-Level ApproachGetting Started - Data - InitializationTokenizationPreparing The Chunks - Split - CLS and SEP - Padding - Reshaping For BERTMaking Predictions
If you prefer video, I cover everything here too:
The logic behind calculating the sentiment for longer pieces of text is, in reality, very simple.
We will be taking our text (say 1361 tokens) and breaking it into chunks containing no more than 512 tokens each.
A tensor containing 1361 tokens can be split into three smaller tensors. The first two would contain 512 tokens each, with the final tensor containing the remaining 337 tokens.
Once we have our chunks and transformed them so that they are ready to be consumed by BERT (more on that soon) — we pass them through our model and retrieve the sentiment scores for each chunk.
Finally, an average is taken for each sentiment class — providing us with an overall sentiment prediction for the entire piece of text (all 1361 tokens).
Now, explaining the high-level approach is one-thing. Writing it out is another. So let’s start work through an example.
First, we need some data to process. I found this rather long post on /r/investing:
I would like to get your all thoughts on the bond yield increase this week. I am not worried about the market downturn but the sudden increase in yields. On 2/16 the 10 year bonds yields increased by almost 9 percent and on 2/19 the yield increased by almost 5 percent. Key Points from the CNBC Article: * **The “taper tantrum” in 2013 was a sudden spike in Treasury yields due to market panic after the Federal Reserve announced that it would begin tapering its quantitative easing program.** * **Major central banks around the world have cut interest rates to historic lows and launched unprecedented quantities of asset purchases in a bid to shore up the economy throughout the pandemic.** * **However, the recent rise in yields suggests that some investors are starting to anticipate a tightening of policy sooner than anticipated to accommodate a potential rise in inflation.** The recent rise in bond yields and U.S. inflation expectations has some investors wary that a repeat of the 2013 “taper tantrum” could be on the horizon. The benchmark U.S. 10-year Treasury note climbed above 1.3% for the first time since February 2020 earlier this week, while the 30-year bond also hit its highest level for a year. Yields move inversely to bond prices. Yields tend to rise in lockstep with inflation expectations, which have reached their highest levels in a decade in the U.S., powered by increased prospects of a large fiscal stimulus package, progress on vaccine rollouts and pent-up consumer demand. The “taper tantrum” in 2013 was a sudden spike in Treasury yields due to market panic after the Federal Reserve announced that it would begin tapering its quantitative easing program. Major central banks around the world have cut interest rates to historic lows and launched unprecedented quantities of asset purchases in a bid to shore up the economy throughout the pandemic. The Fed and others have maintained supportive tones in recent policy meetings, vowing to keep financial conditions loose as the global economy looks to emerge from the Covid-19 pandemic. However, the recent rise in yields suggests that some investors are starting to anticipate a tightening of policy sooner than anticipated to accommodate a potential rise in inflation. With central bank support removed, bonds usually fall in price which sends yields higher. This can also spill over into stock markets as higher interest rates means more debt servicing for firms, causing traders to reassess the investing environment. “The supportive stance from policymakers will likely remain in place until the vaccines have paved a way to some return to normality,” said Shane Balkham, chief investment officer at Beaufort Investment, in a research note this week. “However, there will be a risk of another ‘taper tantrum’ similar to the one we witnessed in 2013, and this is our main focus for 2021,” Balkham projected, should policymakers begin to unwind this stimulus. Long-term bond yields in Japan and Europe followed U.S. Treasurys higher toward the end of the week as bondholders shifted their portfolios. “The fear is that these assets are priced to perfection when the ECB and Fed might eventually taper,” said Sebastien Galy, senior macro strategist at Nordea Asset Management, in a research note entitled “Little taper tantrum.” “The odds of tapering are helped in the United States by better retail sales after four months of disappointment and the expectation of large issuance from the $1.9 trillion fiscal package.” Galy suggested the Fed would likely extend the duration on its asset purchases, moderating the upward momentum in inflation. “Equity markets have reacted negatively to higher yield as it offers an alternative to the dividend yield and a higher discount to long-term cash flows, making them focus more on medium-term growth such as cyclicals” he said. Cyclicals are stocks whose performance tends to align with economic cycles. Galy expects this process to be more marked in the second half of the year when economic growth picks up, increasing the potential for tapering. ## Tapering in the U.S., but not Europe Allianz CEO Oliver Bäte told CNBC on Friday that there was a geographical divergence in how the German insurer is thinking about the prospect of interest rate hikes. “One is Europe, where we continue to have financial repression, where the ECB continues to buy up to the max in order to minimize spreads between the north and the south — the strong balance sheets and the weak ones — and at some point somebody will have to pay the price for that, but in the short term I don’t see any spike in interest rates,” Bäte said, adding that the situation is different stateside. “Because of the massive programs that have happened, the stimulus that is happening, the dollar being the world’s reserve currency, there is clearly a trend to stoke inflation and it is going to come. Again, I don’t know when and how, but the interest rates have been steepening and they should be steepening further.” ## Rising yields a ‘normal feature’ However, not all analysts are convinced that the rise in bond yields is material for markets. In a note Friday, Barclays Head of European Equity Strategy Emmanuel Cau suggested that rising bond yields were overdue, as they had been lagging the improving macroeconomic outlook for the second half of 2021, and said they were a “normal feature” of economic recovery. “With the key drivers of inflation pointing up, the prospect of even more fiscal stimulus in the U.S. and pent up demand propelled by high excess savings, it seems right for bond yields to catch-up with other more advanced reflation trades,” Cau said, adding that central banks remain “firmly on hold” given the balance of risks. He argued that the steepening yield curve is “typical at the early stages of the cycle,” and that so long as vaccine rollouts are successful, growth continues to tick upward and central banks remain cautious, reflationary moves across asset classes look “justified” and equities should be able to withstand higher rates. “Of course, after the strong move of the last few weeks, equities could mark a pause as many sectors that have rallied with yields look overbought, like commodities and banks,” Cau said. “But at this stage, we think rising yields are more a confirmation of the equity bull market than a threat, so dips should continue to be bought.”
We will use this for our example.
The next thing we need to do is initialize our model and tokenizer. We’re going to be using PyTorch and the HuggingFace transformers library for everything.
Fortunately, initialization with the transformers library is incredibly easy. We’re going to be using a BERT model for sequence classification and the corresponding BERT tokenizer, so we write:
Because we’re working with finance-heavy language, we have loaded the
ProsusAI/finbert model — a more finance savvy BERT . You can find the model details here.
Tokenization is the process of converting a string of text into a list of tokens (individual words/punctuation) and/or token IDs (integers that map a word to a vector representation of that word in an embedding array).
With the transformers library and BERT, this typically looks like:
txt = "<this is the large post included above>"tokens = tokenizer.encode_plus( txt, add_special_tokens=True, max_length=512, truncation=True, padding="max_length" )
Here we are using the tokenizers
encode_plus method to create our tokens from the
add_special_tokens=Trueadds special BERT tokens like [CLS], [SEP], and [PAD] to our new ‘tokenized’ encodings.
max_length=512tells the encoder the target length of our encodings.
truncation=Trueensures we cut any sequences that are longer than the specified
padding="max_length"tells the encoder to pad any sequences that are shorter than the
max_lengthwith padding tokens.
These parameters make up the typical approach to tokenization. Still, as you can see, they’re simply not compatible when we are aiming to split a longer sequence into multiple shorter chunks.
For that, we modify the
encode_plus method to not perform any truncation or padding.
Additionally, the special tokens [CLS] and [SEP] are expected at the start and end of a sequence, respectively. As we will be creating these sequences separately, we must also add these tokens separately too.
encode_plus method looks like this:
Which will return a dictionary containing three key-value pairs,
We have also added
return_tensors='pt' to return PyTorch tensors from the tokenizer (rather than Python lists).
Preparing The Chunks
Now we have our tokenized tensor; we need to break it into chunks of no more than 510 tokens. We choose 510 rather than 512 to leave two places spare to add our [CLS] and [SEP] tokens.
We apply the
split method to both our input IDs and attention mask tensors (we don’t need the token type IDs and can discard them).
Now we have three chunks for each tensor set. Note that we will need to add padding to the final chunk as it will not satisfy the tensor size of 512 required by BERT.
CLS and SEP
Next, we add the start of sequence [CLS] and separator [SEP] tokens. For this, we can use the
torch.cat function, which concatenates a list of tensors.
Our tokens are already in token ID format, so we can refer to the special tokens table above to create the token ID versions of our [CLS] and [SEP] tokens.
Because we are doing this for multiple tensors, we place the
torch.cat function into a for-loop and perform the concatenation for each of our chunks individually.
Additionally, our attention mask chunks are concatenated with 1s rather than 101 and 102. We do this because the attention mask does not contain token IDs but instead a set of 1s and 0s.
Zeros in the attention mask represent the location of padding tokens (which we will add next), and as [CLS] and [SEP] are not padding tokens, they are represented with 1s.
We need to add padding to our tensor chunks to ensure they satisfy the 512 tensor length required by BERT.
Our first two chunks don’t require any padding as they already satisfy this length requirement, but the final chunks do.
To check if a chunk requires padding, we add an if-statement that checks the tensor length. If the tensor is shorter than 512 tokens, we add padding using the
We should add this statement to the same for-loop where we add our [CLS] and [SEP] tokens — if you need help with this, I’ve included the full scripts at the end of the article.
Reshaping For BERT
We have our chunks, but we now need to reshape them into single tensors and add them to an input dictionary for BERT.
Stacking all of the tensors together is done using the
We then format these into an input dictionary and change the input IDs tensor datatype to
long, and the attention mask tensor datatype to
int — as required by BERT.
That is our data ready for passing into BERT!
Making our predictions is the easy part. We pass our
input_dict as a
**kwargs argument to our
model — **kwargs allows the model to match
attention_mask keywords to variables within the model.
From here, we can see that we get a set of three activation values for each chunk. These activation values are not our output probabilities yet. To transform these into output probabilities, we must apply a softmax function to the output tensor.
Finally, we take the
mean of the values in each class (or column) to get our final positive, negative, or neutral sentiment probability.
If you’d like to extract the winning class, we can add an
There we have our sentiment predictions for longer pieces of text!
We’ve taken a long piece of text containing 1000s of tokens, broke it down into chunks, manually added special tokens, and calculated the average sentiment across all chunks.
More often than not, looking at the full-length of a text is absolutely required to understand the sentiment of the topic being discussed. We have built a method to make that possible and allow us to work around typical text size limitations.
If you’d like to see the code in full — you can find it in the references below (there are two notebooks, but number two contains the exact code used here).
Thanks for reading!
 D. Araci, FinBERT: Financial Sentiment Analysis with Pre-trained Language Models (2019)
If you’d like to learn more about sentiment analysis with transformers (this time with TensorFlow), check out my article on language classification here:
Bio: James Briggs is a data scientist specializing in natural language processing and working in the finance sector, based in London, UK. He is also a freelance mentor, writer, and content creator. You can reach the author via email (email@example.com).
Original. Reposted with permission.