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Strategies & Market Trends : Bob Brinker: Market Savant & Radio Host
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To: Boca_PETE who wrote (4646)4/19/1998 2:30:00 PM
From: Trebor  Read Replies (2) of 42834
 
Where I felt Bob B. missed the boat on Saturday's show was when he dismissed the fears of three callers concerned over Year 2000 computer problems and their potential impact on economies and markets. With all due respect to Bob, I don't think he has studied up on this issue. He said Y2K hasn't affected the economy yet, but in fact it has and will continue to do so. Companies are spending hundreds of millions on this problem -- non-producing dollars that could otherwise be invested in R&D or brought to the bottom line in the form of earnings.
Bob says the only homage he will pay to Y2K is to not take a plane flight on New Years Day 2000. What will happen to airline stocks if passengers around the world also decide to boycott air travel until and unless airlines and air traffic control towers assure us they are Y2K compliant (which to my knowledge no one has done)? What will happen to automotive stocks when people put off buying a car until the car makers guarantee their products are Y2K compliant -- which again, no manufacturer has done. What will happen to corporate profits when companies find themselves buried in litigation and class action lawsuits when we move into the "search for the guilty, punishment of the innocent" phase of this dilemma.
And this isn't even to mention the BIG problem, which isn't in the U.S. but in less developed nations where governments, financial institutions and manufacturers haven't even begun to think about Y2K and can't possibly totally fix the problem at this late date. Bob is right that Y2K won't be the "end of the world." But to dismiss it's implications out of hand is, IMHO, very naive.
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