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Strategies & Market Trends : Roger's 1998 Short Picks

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To: Ploni who wrote (10236)6/18/1998 12:27:00 AM
From: Joey Two-Cents  Read Replies (2) of 18691
 
Even if the presses had to go all day and night and produced triple didget inflation bank depositors will be paid. In the case of a major crash I'd be curious about the brokers and money managers with theiv
$ 1M SIPC insurance. Also, I'd be curious next year if the media starts to hype Y2K what effect that will have on banks.

True story. My wife works in Midtown Manhattan and she went to a Chase branch to make a withdrawl. The teller told her that the branch had been robbed earler that morning and that about a dozen people came in and inquired whether their money was still safe and withdrew their money. Never underestimate the stupidity of people. I can see trouble next year from the hysteria that will be created by the media. People don't understand stocks and understand computers even less. Remember perception is reality.
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