Telebras (TBH) & Brazil Message Board

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Strategies & Market Trends : Telebras (TBH) & Brazil

TBH 0.571

-12.7%

Dec 17 3:59 PM EST

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To: md1derful who wrote (8570)	9/28/1998 1:24:00 PM
From: Ganesh	Read Replies (1) of 22640

O.K. Doc, I got ahead of myself on that last one.... But I know that the TBR selloff was initiated by these funds. And I think they are still short. Soros' funds were trading at a seven percent premium to NAV until not long ago. Today selling price is a discount of one percent, and that will be, no doubt five per cent, soon. That means that investors are liquidating, lest they liquefy. I know of a Boston based hedge fund that liquidqted everything they have, today. I know of another Boston based money manager, Harvard Management (Yes-they manage the endowment)that supposedly lost $1+ billion this month on similar "LTCM style" arbitrage trading. Banks are pulling all the repo lines. They won't let these guys trade anymore. Have you heard now about the real UBS losses? Not 600 million anymore. 1.5 billion! I've heard lots of rumours about many others going under. And one of them, (I don't know which) but perhaps many of them, has borrowed the stock to short Telebras. I just want revenge, that's all, Doc. See you all in Bahia when you've earned a three week vacation on your Telebras investments.

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