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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers

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From: heinz44	1/22/2007 5:41:07 PM
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Get rid of these Latin American ADRs immediately! Yesterday, Venezuelan President Hugo Chavez moved to take over Compania Anonima Nacional Telefonos de Venezuela (CANTV). As I predicted in the February issue of Taipan (which went online today), he did so without first compensating its U.S. owner, Verizon Communications Inc. (VZ:NYSE), announcing that his government had absolutely no intention of paying market prices to investors. Given the effect that Chavez’s announcements thus far have had on stock valuations, he might as well pay market price for the shares… considering the market has been voting with its collective feet, sending stock prices for CABNT, which trades as an ADR under the symbol (VNT:NYSE), into a downward tailspin. The ADR has shed over 30% of its market value in less than two weeks. But CANTV is only the beginning. There’s a good dozen of other companies from “strategic sectors” -- among them power and media companies as well as banks -- on the short list to be nationalized. And Chavez’s communist chums in Bolivia and Ecuador are likely to follow the example of their Venezuelan big brother within the next couple of weeks. On top of VNT:NYSE, here is a list of petro- and narco-communist Latin American ADRs you should immediately eliminate from your portfolio: Venezuela: Banco Venezolano de Credito (BVZCY-OTC) CA la Eclectricidad de Caracas (ELDAY-OTC) Corimon (CMNFY-OTC) Sivensa Common Shares (SDNVY-OTC) Bolivia: Banco Bisa (BCNZY-OTC) Ecuador: Banco la Previsora (BDLPY-OTC) J. Christoph Amberger Editor, Taipan

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