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: Chip McVickar who wrote (9558)	11/10/1998 3:21:00 PM
From: Steve Fancy	Read Replies (1) of 22640

Chip, yes this was posted earlier, but thanks. I need to be careful in that I attacked another writer early this summer who didn't seem to understand and he turned out to be right...at least till now. This article sounds to have been written by someone who has a bone to pick with Brazil. The capital outflows, though significant have slowed to a crawl...in fact showing signs of finally reversing with the number of positive days per seek seemingly increasing. The writer may feel the bailout package is naive, but Greenspan, Rubin, Summers and the G10 don't seem to feel that way. I'll put my money with on the latter. The problem with Brazil is that you really have to have followed it closely for a while to understand. This writer sounds like he may have just opened the stat books. I doubt the decline today has anything to do with this story in that he's just rehashing old data and I believe a decline was generally expected with the delay's in the IMF announcement. sf

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