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Technology Stocks : Discuss Year 2000 Issues
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To: flatsville who wrote (8933)12/23/1999 8:11:00 AM
From: hdl  Read Replies (1) of 9818
 
I own foreign closed end funds-including many dealing with Asia , besides Japan, Latin America, and Africa. They are a very big % of my portfolio. I have considered the U.S. market very overvalued for a long time. Of course, it has become way more overvalued the last few years. Because of possible Y2K problems, I am thinking about selling although they trade at big discounts to their net asset value. Alternatively I could short webs or open end funds dealing with the countries I am long in to hedge.Which hedge is best? If I just sit tight do I have a risk of a big loss? Has the risk already been discounted? Have foreign countries done enough to take care of the Y2K problem? Did they have a major problem or are they less computerized and have newer computers and more non-computer backup so they don't have as much to worry about as the U.S. and Western Europe? A timely response would be appreciated.
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