Discuss Year 2000 Issues Message Board

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Technology Stocks : Discuss Year 2000 Issues

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To: flatsville who wrote (6112)	6/23/1999 1:29:00 PM
From: C.K. Houston	Read Replies (4) of 9818

<Were these respondents "individual" investors? Regular guys and gals so to speak? Did Yankelovich provide any demographics on them?> Not much detail. Here's whole article. Survey: 6% Of Investors Plan To Exit Market Before Y2K NEW YORK -- Some 6% of investors say they are likely to take money out of the stock market before the year 2000 because they are concerned about computer problems, according to a survey commissioned by the Securities Industry Association. The poll of 803 investors between April 28 and May 19 showed 2% already have taken money out in anticipation of problems. Of the 6% who are planning to do so before the millennium, the survey suggests that only about half will actually follow through, said Hal Quinley, a managing director of Yankelovich Partners, which supervised the survey commissioned by the SIA, a trade group of Wall Street firms. The survey showed 88% of those interviewed are confident Wall Street firms will manage the year 2000 computer issue successfully, 57% believe it will be a short-term problem resolved within the first two weeks of January, and 5% think problems will continue throughout next year. The change of dates could create a problem for companies and governments world-wide if their computers cannot recognize the "00" at the end of 2000. The SIA this spring completed a test simulating the dates leading up to and encompassing the new year, and said that its results show the industry is prepared for the millennium. Securities and Exchange Commission officials have said investors' perceptions of the year 2000 issue could wreak more havoc than any real glitches, especially if enough people withdraw from the market out of fear.

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