Telebras (TBH) & Brazil Message Board

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Strategies & Market Trends : Telebras (TBH) & Brazil

TBH 0.472

+2.6%

Jan 16 9:30 AM EST

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To: Steve Fancy who wrote (8427)	9/23/1998 10:05:00 AM
From: Madharry	Read Replies (1) of 22640

Two interesting articles in WSJ on tuesday. One intimates that the Latin American crisis was caused by leveraged funds who speculated in Russian Debt and Equity and then were forced to sell the more liquid investments to cover their positions. This in turn cause latin America to become overwhelmed with selling. at the same time nervous executives were walking around the trading floor of the large investment houses telling people not to be heroes and to place offers 10-15% below the previous sale rather than 2-3% less as is normal. Makes me better understand why telebras went to 46 and unibanco to 7. The other article lists a number of companies expected to weather LA economic problems no matter what. OPn the list TELESP fixed lines which has cash in excess of liabilities.(according to the article, can anyone verify this?)

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