How to Profit from the Y2K Recession: By Converting the Year 2000 Crisis into an Opportunity for Your Investments and Business

EAN/UPC/ISBN Code 9780312207069


New millennia, historically, have caused extreme reactions. Something about seeing those double zeros on the calendar flips people into new realms of logic and mystical belief. This time, though, the manic millenarians have a scientific basis for their doomsday scenarios: Computers across the world will interpret the "00 at the beginning of the new century as 1900 instead of 2000. John F. Mauldin believes the societal upheavals of this glitch will lead to "double-digit unemployment, a stock market down 50 percent from its highs, and hundred-billion-dollar deficits." Fortunately, he believes, there"s a way to come out ahead on these calamities, as we can see them coming. He suggests you sell your bull-market stocks and mutual funds and take your lumps in capital-gains taxes. Then he offers a number of funds and strategies that capitalize on a falling stock market. This all involves market timing, a strategy most investors have been conditioned to believe is futile. You can"t read this book and not be frightened. The Y2K problem is scary; what it could do to the world economy is scarier; what it could do to your financial security is scarier still. And the profit-making strategies are probably the scariest part of the book. You have to make a leap of faith one way or the other: believe the world economy will keep chugging along, or batten down the hatches and prepare for a derailment. How to Profit from the Y2K Recession certainly gets you ready for the latter. --Lou Schuler