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Strategies & Market Trends : Value Investing

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To: Madharry who wrote (3765)	4/6/1998 3:28:00 AM
From: Michael Burry	Read Replies (1) of 78530

I plan to be just like Mike, be a long term holder now, and wait three years and see what happens I would update my position as an avid buyer below 120. The situation is even better now, and hence my buy point has risen. Brazil says that all 12 will be NYSE ADR's. A knowledgeable poster on the TBR thread doubts this, but nevertheless the privatization is going as scheduled. 3 years from now, I can't imagine more of a lock than buying TBR at 120 or below now. Brazil is growing, cutting short-term rates, and its foreign reserves are above October levels. This Japan shakeout is meaningful for Brazil, but less so for Telebras holders. Good Investing, Mike

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