Predictions of worldwide economic collapse are nothing new. But unlike a lot of the apocalyptic stuff you see in some supermarket tabloids, Y2K is a real problem with genuine economic consequences. The government and private industry are spending billions to adjust computer systems, and some analysts forecast only minor inconveniences on Jan. 1. But worriers can find plenty of support for their worst fears. Some investors see that as an opportunity.
Fear is the big thing.
It's going to happen anyway, so you should get out and get back in when it's low. When that happens, he'll be ready to buy his favorite stocks at depressed prices, he says. I'm going to pull it out, then put it right back in. If it doesn't go down, I don't lose anything. Lloyd isn't putting any new money in stocks, opting instead for short-term bond funds and money market funds.