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Strategies & Market Trends : Telebras (TBH) & Brazil
TBH 0.945-1.1%Nov 26 3:59 PM EST
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To: Fernando Saldanha who wrote (11333)1/9/1999 2:03:00 AM
From: Steve Fancy  Read Replies (1) of 22640
 
Fernando, thanks for the heads up. I assume the 34.5 billion does not include the 9 billion they recently received from the IMF. Why do they keep factoring out that cash that if I understand was added directly to the Central Bank's reserves? Do you feel a devaluation is likely? If so, where do you think they may go with it...10%, 15%? What immediate impact do you feel this would have? Seems that many Brazilian stocks are already trading at 50% of any reasonable value.

Thanks,

sf
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