Markets and Y2k today 10/27/99greenspun.com : LUSENET : TimeBomb 2000 (Y2000) : One Thread
Just figured its worth starting a thread today on what might be an interesting reflex in the market to Compaq announcing problems from Y2k.
IBM did it last week but its was dismissed as IBM looking for a way to explain away their problems, but another major player says the "Y" word and this should have alot of people talking about it.
Might not cause anything major to happen on the street, but something is gnawing my insides telling me this is worth watching. Got CNBC ?.
-- hamster (email@example.com), October 27, 1999
FROM UNDER THE ROCK:
Hamster: What did they SAY???
-- worm, livin (firstname.lastname@example.org), October 27, 1999.
Just read the story on http://news.excite.com/news/r/991027/00/business-compaq-earns.
*** After the report, Capellas warned analysts and reporters in a conference call to expect some slowing in sales of high-end computer servers late in the fourth quarter as customers pause to fix existing equipment for possible Year 2000 glitches.*** I thought everyone was already done fixing their systems...???
-- STFrancis (STFrancis@heaven.com), October 27, 1999.
Followed the URL on the Compaq story. Reuter's say the story is unavailable.
-- Rich Miller (email@example.com), October 27, 1999.
Oddly enough they have played down the Y2k side of it and looked at the quarterly results only and like it.
Y2K is still not in the sites of the markets.
Dont know what its going to take the markets to worry about y2k, but nothing so far is doing anything.
-- hamster (firstname.lastname@example.org), October 27, 1999.
Ever read a book titled "Extraordonary Popular Delusions and the Madness of Crowds"?
My favorite chapter is about the "tulipmania" amoung the Dutch in the 1600. Most people were convinced that there was no limit to how high the value of tulip bulbs could go.
IMHO todays stockmarket is the "tulipmania" of our day.
My favorite quote from the book "Anyone taken as and individual is tolerably senisible and reasonable- as a member of a crowd he at once becomes a blockhead".
-- John Beck (email@example.com), October 27, 1999.