what is the difference in converting 520 branches or 575 into compliance--nothing. The two banks being "bought" are on a very small scale. Once a company is complete with their y2k "fixes", they can look for some values in the market. getting stronger up north and south is great. currently working for the bank and we are just now rolling out the new systems to three regions. the new systems will probably create some efficiencies in the branching network, but bbt is still far behind on the tech curve--ok b/c not in their strat obs to be bank america/ tele bank--have a problem, your statement saying you owe 10,000.00 when you only owe 100.00 well =================================================================i promised myself i wouldn't go off on a tangent-hell i couldn't help it
but anyway bbt has y2k under control, and converting a few more branches will have little affect on the y2k since bbt is just replacing existing "hardware" and "software" "everywhere"
good purchase at a decent price
market prediction: y2k scare will send market into sharp decline by Sept 1999. people will just become to scared. bonds will rocket. with all of the people in the market that have yet to experience a down market- weak investors will flee when market loses 18%. with further and further panic to follow. people in todays market have a gambling attitude(a 100 dollar stock will trade between 70-130====effectively only a 30 bet. wrong the whole 100 is at stake and in a panic easily 50%. Baby booming bluehairs will remember the stories of the last big one and get a little scared with their life savings. could be a real disaster. key is timing. sell high buy low.
enough doomsday feelings- market will rebound sharply as wise bargain hunters dive in. that is where i hope to be. look at the fund companies carrying a large liquid position-they want in later in the year too.
any responses welcomed-didn't mean to sound like a short b/c i am not. currently hold 30% of my port in bbt
year. I also believe the whole issue will be just the fear raiser this overblown market will need to sharply correct. I also believe BBT and other great companies are going to be available at much cheaper prices.
Like you, BBT makes up a huge portion of my portfolio. But unlike you, mine is close to 80% so I am scared $*$*less. Have thought about taking the plunge and selling it all (401K shares) with the chance to buy back in early 2000 at lower prices.
I hope your 401K allows you to move in and out quickly. The BBT 401K has a delay on it which makes trading BBT difficult (at least timely trading difficult) I understand that some 401K's can be transferred into rollover IRA's even though you still are working at your company. You may want to investigate this.