Telebras (TBH) & Brazil Message Board

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Strategies & Market Trends : Telebras (TBH) & Brazil

TBH 0.570

-4.5%

Dec 26 3:59 PM EST

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To: Ricardo Bekin who wrote (330)	10/30/1997 11:11:00 PM
From: chirodoc	Read Replies (2) of 22640

<<<<<A few hours ago the Central Bank in Brazil doubled interest rates. ....this is the same action that was done in HK. i believe that these central bankers are talking on the phone till late in the evening saying "what in the F#%^K are we going to?" .......the answer, raise rates to defend the currency. they are worried about the type of meltdown that happened in the ASEAN countries. malaysia, as you know, did not do this and the currency was beaten to a pulp. ........also, note that today the brazilians announced that two small brazilian banks are being purchased by americans. they are tyring to show true deregulation of the financial markets to impress investors--the opposite of what was done in malaysia. ....i personally think it will work. yes, it may take a few weeks to a few months to run this out. but, imho brazil does not have the type of deep structural problems that we see in HK--just a burgeoning debt. ......i personally am a long term investor and feel that i will start buying tbr in this range. i am guesing that downside range is 70-90.

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