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

To: md1derful who wrote (7143)	8/26/1998 8:49:00 PM
From: MGV	Respond to of 22640

Hello Doc - I went to the Yahoo board for the first time in a while. I read your ideas about the listing being the catalyst for movement in TBR. I know Steve agrees with that as well. I don't necessarily agree. I think the overwhelming weight on TBR is the very negative sentiment concerning all emerging markets. Most of it begins with perception but, perception can cause self-fulfilling prophecies. Russia is not Brazil, as stated in the WSJ but, the perception is hurting Brazil nonetheless. I have said this before but, I feel very strongly about it. I don't think we should expect any upside in TBR or even alleviation of downside risk until Japan does the right thing. That is the event that will shift the negative sentiment.