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Strategies & Market Trends : Telebras (TBH) & Brazil
TBH 0.956-0.1%Nov 25 3:59 PM EST
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To: James F. Hopkins who wrote (591)12/17/1997 10:44:00 AM
From: Uncle Mikey  Read Replies (1) of 22640
 
Regarding the value of TBR: I don't think anyone is promoting this stock based on the modern condition of the phone system, everybody knows it is antiquated. The attraction here is that the company is uniquely positioned to delivery phone service in the future, and many big players are eager to buy a piece of it to get their foot in the door. And...in spite of the poor condition of the phone system, earnings are growing 18% and the stock is selling at 11X earnings.

Sure it's risky, and anyone who played it as they would an American company, based on it's PE and PEG, is fooling themselves. The risks are greater here, that's why it's selling at a discount. But the potential far exceeds any American stocks that I can think of. That's the way it always is, the stocks with the most potential also present the most risk. If there was no risk the stock would be selling for $150 and there would be little upside left in it.

But OVERPLAYING this stock by taking huge positions is a dangerous game. For me, it occupies a position in what I consider the "speculative or highest risk" portion of my portfolio, just 1.5% of my portfolio is invested in TBR.

All of that said, I have to fight back my urge to double my position because I think so highly of this stock.
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