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
From the Publisher
"The time for analysis of the Year 2000 problem is over. John Mauldin knows that, and has given us a thoughtful, practical analysis of the pitfalls and opportunities that this situation provides us. In addition to providing helpful hints to those who seek to take advantage of the Y2K problems in all sectors, How to Profit from the Y2K Recession
is a useful tool for many who are confronted with technical Y2K problems of their own. Most important, however, he reminds us that in the face of trouble, we can only rely on God, our family, and our friends to bring us out of the morass." --Congressman Pete Sessions, Vice-Chairman, House Subcommittee on Government Management, Information, and Technology
"John Mauldin gives us an understandable analysis of a complicated problem. His approach, in my opinion, is balanced, sane, and thoroughly researched." --Bob Mumford, president of Lifechangers, Inc.