Telebras (TBH) & Brazil Message Board

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Strategies & Market Trends : Telebras (TBH) & Brazil

TBH 0.550

+2.8%

Jan 9 9:30 AM EST

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To: dougjn who wrote (124)	8/7/1997 4:50:00 PM
From: David R. Doerr	of 22640

It does look like the market did take into effect some discount on the stock with devaluaiton rumors. Brazil's current account deficit and large external financing requirement constrain growth and pose the risk of interest-rate hikes later in the year. If rates do rise, the stock could take a dive back down. It's really tough to forecast what will happen on both the political and currency front. TBR fundamentals seem to be solid, thats why I'm simply holding the position, not adding to it. From a technical point, I think if we test the highs, the breakout could happen without much effort. Investing in foreign lands has sooooo many factors, the classic risk/reward scenario.

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