Telebras (TBH) & Brazil Message Board

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Strategies & Market Trends : Telebras (TBH) & Brazil

TBH 1.030

-3.7%

Nov 7 3:59 PM EST

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To: Steve Fancy who wrote (12230)	1/22/1999 10:46:00 AM
From: steve kammerer	Read Replies (2) of 22640

From this summer when Real was at 117 during the TBR auction to this morning with it being at 172, that's about a 47% devaluation. TBH hit around $130 US around then. Taking 47 % as almost 50% we ge a devalued price in dollars of $65US. It's kind of amazing that that is ball-park area where we are now. It's also disturbing if this means that our stock decline has been almost all through currency devaluation and not so much emotion as I thought. Since I am long at mostly $120 - $133 US this means to me that the stock is still there at that level in Brazilizn terms. Comments? stevek

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