This brief article in FORBES (July 7) warns of the coming wave of litigation. I found one point very important: the pressure on companies to make full disclosure on y2k liabilities and costs.
The stock market has not begun to discount this factor. I think it is because of denial. Men will not discount anything that might cost them everything, including their lives. At some point, though, the CPA's will have ro come to grips with reality: y2k will be very, very expensive to fix and/or litigate.
Corporate earnings will suffer. That will surprise this market.
Or will the CPA's just not tell the truth?