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Technology Stocks : TAVA Technologies (TAVA-NASDAQ)
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To: threadneedler who wrote (17542)5/22/1998 5:55:00 PM
From: John Mansfield  Read Replies (1) of 31646
 
Threadneedler,

Good comments! I think that Y2k and it's consequences will last at least for the coming 4 years.

This is one of the reasons why Y2k stocks are languishing at the moment. This has to do with 'denial' by the financial community regarding Y2k, IMO. It is a reasoning along the following lines (just think an average stock broker for instance, who might be thinking the following):

- 'Y2k is not a real big deal; all those IT guys are clever guys and must be working on it for a long time now; they must make it;
- I can not be wrong - bought a mortgage; I am advising all my clients that stocks are the best long term investment; etc etc;
- (subconciously...) Because I can't be wrong, Y2k can't be a big deal;
- Although some minor things might go wrong around 1/1/2000;
- But still Y2k remediation work will be finished around 1/1/2000;
- So all those Y2k companies will only have some 20 months to realize projected high P/E; and then their growth will be over;
- So Y2k companies are a bad investment
- So I won't invest in them or sell them '.

Well you see some assumptions in this stockbroker's reasoning is simply not correct. From all articles that I have read so far; it is clear that Y2k remediation will be far from over on 1/1/2000.

Regards,

John
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