Paul,
< I am trying to maximize any financial gain from the positive aspects from a Y2K investors point of view. I am currently building plans around an assumption the market will crash once Greenspan tells Congress they had better be prepared for significant adverse economic consequences.I belive this may in the August 99 Humprhey Hawkins testimony.>
I'll probably get out of the market earlier than you. I'm going to closely monitor media Y2K coverage. Right now, it's mostly people on the net who understand what's going on. And even then, it's a relatively small group. But, it's changing pretty fast. I didn't expect the strong FORTUNE, Forbes and Business Week articles.
I've resigned myself to HUGE capital gains taxes. I'll be selling about half my portfolio by early October. You know I don't like fourth quarters anyway!
I'll be taking some of that money to apply towards a new home, gold, silver, straight-cash, taxes, food ... yeah ... I'm gonna start stockpiling.
I'm pretty much planning on being out of the market by April 1999. In my case, I'd rather be safe than sorry. So, I'm not projecting out as far as you.
To me the key is going to be media coverage. How heightened it becomes. How it's handled. If the perception of government, bank, market failure is there ... bank runs could occur. All it takes is perception of failure.
I personally feel bank runs will occur ... the question is ... when?
Cheryl |
