Can you profit from Y2K?
It may sound like a tag line to a bad infomercial, but there is a growing consensus that Y2K can actually make us money if we play our cards right. You can make money from Y2K, according to Jean-Guy Desjardins, of TAL Global Asset Management.
Speaking at a conference in Montreal last week, Mr. Desjardins said that Y2K is just one of many factors that will impact financial markets in the Year 2000.
“Most likely, Y2K will be a blessing in disguise,” he said. “It will probably lead to short-term market volatility, creating a wealth of buying opportunities for investors.”
Sharing the podium was market researcher Michael Adams, President of Environics and best-selling author of Sex in the Snow. Mr. Adams said that his research shows that 47% of Canadians suffer from “apocalyptic anxiety”, the belief that the world is rushing towards some undefined disaster. Younger Canadians between ages 15 to 24 are apparently the most worried.
“This apocalyptic anxiety is aggravated by the fact that we are not sure how disaster will strike,” said Adams. “Will it be an ecological, technological, financial, social, natural or even religious disaster? Perhaps the Y2K bug and sto market upheaval? To steal a phrase from Franklin Delano Roosevelt, Canadians have nothing to fear, but fear itself.”
Roosevelt’s advice remains the best when considering Y2K. The are a couple of specific things you can do. If you play the market, watch for these ‘buying opportunities’ that Y2K may present. And be a Good Samaritan and reassure the younger people in your life with Roosevelt’s wise words.