Dr. Edward Yardeni on the stock market and Y2K

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I just saw this article at Sanger's Review of Y2K News Reports. Title, link and a quote from it...

"Millennium bug 'could end Wall Street bull run'"

http://www.independent.co.uk/stories/D0202903.html

Mr Yardeni predicted a build-up of bad news on the bug from June onwards as companies begin to make their SEC filings on whether they were millennium bug compliant.

"There are already 34 millennium bug lawsuits outstanding in the US and we'll see a lot more of that," he said.

Mr Yardeni said he thought the present euphoria in Internet stocks was symptomatic of "one of the greatest speculative bubbles on Wall Street of all time".

"If the stock market dives, which I think it will do in the second half of this year, then it will take the US consumer and economy with it," he warned.

"I don't know when exactly it will top, but I have no problem at all with lightening up and taking profits right now," he added.

-- Kevin (mixesmusic@worldnet.att.net), February 02, 1999

Answers

"I don't know when exactly it will top, but I have no problem at all with lightening up and taking profits right now," he added.

Sounds like a good idea.

-- me (justme@aol.com), February 03, 1999.


This is your wake-up call DGI's. What have you got to lose besides a few bucks interest?

-- Dave (dave22@concentric.net), February 03, 1999.

For the latest Y2K Reporter (Adobe Acrobat format) from Dr. Yardeni, check out:

Y2K Reporter Index

Yardeni's one of the folks who got my attention last year about Y2K. He's been one of the best market analysts of the past decade; I have a 1994 issue of MONEY with him and Abby Joseph Cohen on the cover forecasting (correctly) the continuing bull market. When I read Yardeni's cautions about Y2K and its potential impacts, I started doing more research and haven't seen anything to contradict him yet. Heck, even "superbull" Cohen has gradually turned a lot less bullish of late.

-- Mac (sneak@lurk.com), February 03, 1999.


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