American Depository Receipts: Value Message Board

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Strategies & Market Trends : American Depository Receipts: Value

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To: Michael Burry who wrote ()	8/28/1997 12:47:00 PM
From: Michael Burry	of 33

Telebras (TBR) I feel stock of the state-owned Brazilian telephone company has been unfairly punished by momentum players. Given recent advances in the timecourse for privatization, the company is coming closer to realizing its true value at the same time the Brazilian market is falling and momentum traders are driving down the stock. The stock may fall to 110, but long-term, there is value here. Comments? Good Investing, Michael Burry

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