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Strategies & Market Trends : Telebras (TBH) & Brazil -- Ignore unavailable to you. Want to Upgrade?

To: Peter who wrote (395)	11/13/1997 4:59:00 AM
From: Ira Vine	Read Replies (1) \| Respond to of 22640

People should rember that after the Mexican currency crisis a few years ago the Brazilian market was cut in half in a matter of weeks, even though there were no fundamentals to support this move. TBR went to 50. There was no fundamental reason for this then, and I don't think there is now. If you look at the swings in the Brazilian market over the last fifteen years they are astonishing, a 50% swing is not unusual. I think you just have to live with it until the fundamentals reassert themselves.