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Technology Stocks : Y2K (Year 2000) Stocks: An Investment Discussion -- Ignore unavailable to you. Want to Upgrade?

To: Jeffrey S. Mitchell who wrote (7639)	11/7/1997 12:37:00 PM
From: CalculatedRisk	Read Replies (1) \| Respond to of 13949

Jeff, I had lunch with the Director of IT for a Fortune 500 company on Tuesday. We discussed a number of topics, but I couldn't help bringing up Y2K <G>. (He is being offered the CIO position at another Fortune 500 Company and wanted my advice) To summarize: His company is in great shape. They are mostly replacing their legacy systems. For the remaining legacy systems, they have a well defined project to fix the Y2K bug that is taking about 5% of their IT budget through next year (similar to NB). The project is on track, uses in-house programmers, and will be completed by the end of 1998. I told him about the incredible valuations of Y2K companies. His comment was: "Those investors must think I am stupid!" I have known this young man for 25 years - he is very capable and definitely not stupid. But his comment opened my eyes! Really it comes down to this: I believe the people responsible for resolving this problem will succeed. Investors in Y2K believe these people are stupid. Regards, Bill