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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Wyätt Gwyön who wrote (12118)	4/18/2004 10:15:11 AM
From: russwinter	Read Replies (2) \| Respond to of 110194

Alan Abelson takes MoP apparatchik James Cramer to the cleaners in his column this weekend. He does it a classic style that very few attempt nowadays. Takes him down deep, and leaves him there tethered with no escape too. It's such a piece of work, I'm hoping somebody with the online access could post this portion of the column for all here to truly enjoy, made my weekend.

To: Wyätt Gwyön who wrote (12118)	4/18/2004 10:44:45 AM
From: gregor_us	Read Replies (1) \| Respond to of 110194

How about EWZ: China Decides to "Buy" Brazil This is amazing. China is looking ready to upgrade infrastructure in Brazil to the tune of 5 billion in Brazil, to secure their pipelines of soybeans, iron ore, etc. Incredible. And to think: the Brazil stock index "farted" this week over Citi and JPM? downgrades of their debt amidst the US interest rate panic--when Brazil's foreign reserves have rarely been fatter (I think). iShare: EWZ ? ________________________________________________________ China may invest $5 bln in Brazil ports, railways Reuters, 04.15.04, 4:16 PM ET BRASILIA, Brazil, April 15 (Reuters) - China could invest more than $5 billion in Brazilian ports and railways in a move to secure the delivery of its booming commodities imports from the Latin American country, Chinese officials said on Thursday. The plans are expected to be announced when Brazilian President Luiz Inacio Lula da Silva visits China next month and would represent a victory for Lula's drive to boost Brazil's ties with the world's leading developing nations. A group from the China International Trust & Investment Corporation (CITIC) -- China's largest financial conglomerate -- are visiting Brazil this week and met with Lula on Wednesday. "They (the Chinese) are waiting for the signing of the letter of intention after president Lula's visit to China," said Fernando Garnero, head of Brasilinvest, which is participating in the negotiations. He told Reuters the value of the Chinese investments could reach more than $5 billion. Chinese investments in Brazilian infrastructure would be a boon for Brazil and could boost the speed with which soaring exports like soy and iron ore reach China's market. China became Brazil's third-biggest single export market in the first quarter of this year, as exports jumped 51 percent from the same period a year earlier. "At this moment we are interested in Brazil's ports ... because port projects, as well as offering good returns, can help agricultural exports," said Wang Jun, head of CITIC. "A reduction in the cost of transport plays an important role both for China and for Brazil." Brazil's ports are in need of investment to expand capacity in order to keep up with the country's soaring exports. China is increasingly looking to Latin America for the commodities it needs to keep its economy booming. Reflecting the growing commercial ties between Brazil and China, this week's visit by CITIC was its first ever to Brazil. A specific project under consideration by the two countries is a railway line which would link Brazil to the Pacific Ocean, possibly to a port in Chile, cutting thousands of miles off the voyage to Asia. That would considerably cut the cost of shipment for exports to China. A specific interest for China is iron ore, which Wang said was key to the development of China. China's top steel maker, Baosteel <600019.SS>, said in February it was considering the construction of a steel plant in Brazil together with local group Companhia Vale do Rio Doce (CVRD) <VALE5.SA> (nyse: RIO - news - people), the world's top iron ore miner. At a cost of $2.5 billion, it would be the largest overseas investment by a Chinese company so far. Copyright 2004, Reuters News Service