Telebras (TBH) & Brazil Message Board

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Strategies & Market Trends : Telebras (TBH) & Brazil

TBH 0.896

-0.9%

Nov 21 9:30 AM EST

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To: Worswick who wrote (11595)	1/13/1999 4:41:00 PM
From: Steve Fancy	Read Replies (1) of 22640

Clark, it's my still my feeling that a 60% plus devaluation was built in....therefore IMO there won't be a 1-1 relationship between devaluation and equity prices. I have a hard time seeing 25-35, but never would have thought we'd be talking 50 again. If they can make some serious headway on the fiscal package over the next 30 days or so, and assuming upbeat earnings start coming in, I'd like to think 40-45 will be the low. That's if it breaks 50. I heard the woman from ML (I think) talking about potential 3300 on the bovespa, but they didn't seem to be taking into account the depressed state of the market other than the last few days either. When you look at what I would have considered close to a fair value of around 14000 on the Bovespa, then factor in your devaluations, seems we have plenty of room to move up if and when investor confidence returns. That said, if if hits 25-35 you win the prize. The person with the most prizes when they die...wins.<g> sf

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