Check your bank's Y2K status, keep all records


ARE YOUR finances prepared for Y2K? "The good news," says Working Woman, "is that the mad rush to prepare for 2000 has probably eliminated serious threats to your bank accounts and other holdings.

"Nevertheless, ask your banker exactly what steps are being taken to head off Y2K problems. Keep bank and brokerage statments, deposit slips, ATM receipts, etc.; report discrepancies immediately. Keep cash on hand; withdraw enough for the first few weeks of 2000.

"Also, there's little need to worry about your bank if your accounts are less than the $100,000 covered by federal deposit insurance."

WALL STREET WATCH: "The cold, hard fact is that two-thirds of this bull market's gains came from soaring P/E ratios. Analysts who project these stock gains ad infinitum are ignoring this fact." (InvesTech Market Analyst)

"Declining interest rates that supported the great bull market are no longer present." (Martin Pring's Review)

"There's a maximum risk of 5 percent left in this market, while the potential reward over the next six months is better than 20 percent." (Thomas Galvin, Donaldson Lufkin & Jenrette)

"Corporations have money to boost dividends, but they're not doing it. They prefer other ways to reward stockholders, such as share buybacks.

"Dividend hikes in three months ended September 30 tumbled 19 percent to 316 from 392 from the same period last year." (Barron's)

Pub Date: 10/20/99

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