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

To: md1derful who wrote (7062)	8/24/1998 10:23:00 AM
From: DMaA	Read Replies (2) \| Respond to of 22640

What profiteth a man if he gains the whole world but can't sleep at night.

To: md1derful who wrote (7062)	8/24/1998 10:27:00 AM
From: MGV	Read Replies (2) \| Respond to of 22640

I think there is a high probability that we hit the high 70s again. When I read the street.com article posted by RK, I realize that all of the negative sentiment regarding emerging markets in general hasnt shaken out yet. Regarding the point I raised Friday about TBR earnings, I am not concerned about a history of cooked books or a to-be-uncovered credibility problem. Its very possible, given the privatization distractions, that TBR's businesses have been running on de facto auto pilot this year. If so, loose oversight might mean a less than stellar quarter. In a market looking and finding reasons to sell, it would put further short term pressure on TBR and make it even more of a bargain in my view. At this point, I'm a buyer under 80, not before. If I don't get anymore, so be it. By the way, other events that are probable ant that would depress TBR in the short term include: Venezuela deval. More saber rattling about a Chinese deval. The Yen falling towards 160 Further delay in Japanese reform package Clinton resignation or Democ. Party pressure for him to do so Increasing political fallout in Russia A catastrophic response from terrorists in W. Europe (not probable but quite possible)