'Subject: Wall Street Weak (17-Jul-1998) -- Project DumbAss nomination
Date:
Wed, 22 Jul 1998 00:30:50 GMT
From:
Barb Knox <barbara-knox@usa.net>
Newsgroups:
comp.software.year-2000
Here's a transcript of parts of the PBS TV show "Wall Street Week" which aired
last Friday, for inclusion in the Project DumbAss archives. Laugh or cry,
your choice...
[Wall Street Week, 17-Jul-1998]
[From interview with Alan Skrainka, Chief Market Strategist at Edward Jones]
Host: There's been some controversy lately and particularly this week in the
news with the brokerage industry testing for the year 2000, uh, how do you
feel? Are we, is this going to be a major negative for the economy?
Alan: Well I think Y2K is serious, it's important; but I, I don't buy the
doomsday scenario. The largest companies that make up the backbone of
Corporate America have been aware of this problem, have been spending money to
solve it, so I think it's going to be like a snowstorm -- it's gonna feel real
bad for about two weeks and then the sun'll come out.
Host: We just have about half a minute, but given you deal with them, what's
the biggest mistake individuals make in their investing?
Alan: Well I think it's trading in and out of the market. Nobody can predict
the market; nobody can time when to get in and when to get out. The best
strategy is to, just to buy great companies and hold them for the long term.
Host: You make it sound so simple. I'm sure our viewers will take note. I
do hate to interrupt, but our time is up...
[End of interview] |
