Telebras (TBH) & Brazil Message Board

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Strategies & Market Trends : Telebras (TBH) & Brazil

TBH 0.437

-3.0%

11:53 AM EST

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To: Mayer Tchelebon who wrote (1445)	4/4/1998 12:31:00 AM
From: Michael Burry	Read Replies (1) of 22640

The sell-off is overdone and irrational. That the subsidiaries will trade as ADR's is huge news that would normally have shot the stock higher. Does everyone understand what this means? There will be a liquid, well-regulated market at home for the offspring of the split. That is simply huge. I doubt the recent sell-off was due to an obvious rumor. Japan is rocking Brazil - possibly with good reason - and Telebras - with no good reason. This is opportunity. The only question is how low will we be able to pick it up. As some one else said, just like the good old days. Mike

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