Telebras (TBH) & Brazil Message Board

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Strategies & Market Trends : Telebras (TBH) & Brazil

TBH 1.030

-3.7%

Nov 7 3:59 PM EST

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To: janie kotara who wrote (7358)	9/2/1998 11:04:00 AM
From: Steve Fancy	Read Replies (1) of 22640

Hello Janie, thanks for the welcome back. Yes, the markets have been miserable and I never thought we'd see 85 again either. As far as buying now or later, I still believe the sum of the parts will be greater than the whole but that would be based on the closing price the day before the split. Many technical folks are looking for a retest of DOW 7400 followed by another rally to confirm a bottom. I'd like to think we've seen the lows but the next week or so are probably dependent on the same old, same old...global concerns. We may also see concerns grow over a Clinton impeachment as Starr's report goes to congress...maybe next week. Bottom line, I intend on doing something before the split but am not convinced yet. FWIW, I am hearing that a new Bear Stearns report is suggesting a potential year end sum-of-the-parts of $67 due to a Brazil risk premium, but if I understood, they feel the risk premium is too high and have revised their year end '98 target to $103 and year end '99 to $152. Will post the report if I can get my hands on it. Will be checking for info from MS-DW today also. Regards, sf

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