Telebras (TBH) & Brazil Message Board

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Strategies & Market Trends : Telebras (TBH) & Brazil

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To: jayray who wrote (9399)	11/4/1998 12:31:00 PM
From: Steve Fancy	Read Replies (1) of 22640

Jay, I think that depends on your investment strategy. I have recommended to a couple family members who are long termers that they hold all 12 babies. Although we may see mass selling of a few of the baby ADR's, I suspect that by listing in Brazil first we've already seen much of any initial adjustment. Also, by taking all 12 babies you have the flexibility to change your mind down the road, whereas with TBH you're stuck. Initial speculation was that TBH had a finite life, making TBH potentially unpractical for long termers. TBH vs RTB...would be interesting to get Jeremy's viewpoint, but for folks who just don't want to mess with the 12 babies, I would probably prefer RTB, but liquidity is a concern. For folks who plan on getting out completely in the next 6 months to a year, TBH or RTB may make sense, otherwise holding all 12 seems the only way to go. One issue I'm not understanding is the reduced number of shares on a handful of the companies. I believe in Brazil they did a 12 for 1 stock swap, but apparently that will not be the case in the US? What are your thoughts? sf

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