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

To: djane who wrote (7212)	8/27/1998 7:24:00 PM
From: djane	Respond to of 22640

Brazil shares end 9.95 pct down at 21-month low Thursday August 27, 5:36 pm Eastern Time SAO PAULO, Aug 27 (Reuters) - Brazilian stocks fell through the floor on Thursday as a global financial panic forced investors to dump emerging market assets in Latin America's most liquid equities market, brokers said. The key Bovespa index (^BVSP - news) ended down 9.95 percent at 6617 points, its lowest in 21 months. ''We fell to a limit today,'' said Corretora Sao Paulo trader. ''But it can get uglier because we're engaged in a vicious cycle.'' Asian markets could follow the Latin America plunge when they open on Friday, causing Brazilian equities to post further losses later in the day, he warned. The blue-chip index on Thursday posted its biggest closing drop since Oct. 27, when the Bovespa dropped 14.97 percent. Alarmed by the plunge back then, the Bovespa decided to introduce a circuit breaker on the following day. The breaker suspends trade for 30 minutes if the index falls more than 10 percent. On Thursday, the index plummeted 10.49 percent shortly before the close, but no halt was called because there was less than half-hour to go before the session's end. Turnover was lighter than average, with about 562 million reais ($480 million) of shares changing hands. Brokers said some global investors cashed their holdings in Brazilian equities to make up for losses posted in other emerging markets. ''What complicates matters is that big funds are using Brazilian assets to pay for their losses in Russia, for example. It is not that something is particularly wrong with Brazil,'' said one local broker. Brazil's currency market reflected the equity weakness on Thursday. The real dropped 0.35 percent to close at 1.1763 against the dollar with forex dealers anticipating U.S. currency leaving the country. As of Wednesday, net outflows from the commercial market in August totaled $5.6 billion. In the stock market, the top blue-chip issue, Telebras preferred (TELB4.SA), lost 10.95 percent to 84.60 reais. It was trading at more than 140 reais less than a month ago, when the telephone system was privatized. Shares in power firm Eletrobras preferred B (ELET6.SA) lost 13.64 percent to 19 reais, while oil company Petrobras (PETR4.SA) also fell 13.1 percent to 126 reais at the close. Preferred shares in iron ore miner Vale do Rio Doce (VALE5.SA) declined 5.46 percent to 15.41 reais. The Bovespa index was down 35 percent so far this year by Thursday's close. Copyright c 1998 Reuters Limited. All rights reserved.

To: djane who wrote (7212)	8/27/1998 7:26:00 PM
From: djane	Read Replies (1) \| Respond to of 22640

IMF to meet Latam finance officials on crisis Thursday August 27, 5:33 pm Eastern Time WASHINGTON, Aug 27 (Reuters) - The International Monetary Fund has invited Latin American finance ministers to attend a meeting in Washington next week to discuss the impact of the latest world financial turmoil on their economies, officials and diplomats said on Thursday. ''We have proposed a meeting with a group of Latin American finance officials to discuss the impact in the region of recent developments in the global economy,'' an IMF spokesman said. Argentina's Economy Minister Roque Fernandez has already confirmed that he will attend the meeting scheduled for Sept. 3 and 4, an Argentine diplomat said. In Brasilia, Finance Minister Pedro Malan's office also said he would attend the meeting with IMF managing director Michel Camdessus. Officials from Mexico, Chile, Venezuela, Colombia and Uruguay had also been invited, the IMF spokesman said. An Argentine diplomat said Camdessus invited the ministers to discuss the turmoil set off by the rouble crisis, which has caused an emerging markets rout that has hurt Latin American stocks and put pressure on the region's currencies. Copyright c 1998 Reuters Limited. All rights reserved.

To: djane who wrote (7212)	8/27/1998 7:34:00 PM
From: djane	Respond to of 22640

Good post from the Yahoo thread. Maybe we're the modern-day, global Warren Buffetts? Strong demographic argument to investments in China, India and Brazil over the next 50 years... Message 3837 of 3837 Reply cocoa, treekanguru Aug 27 1998 7:22PM EDT you did good. just continue to build up your position over time, whether it goes up or down (dollar cost averaging). Think about it...you don't get many chances in your investing life to be able to buy a 20%+ grower at 4x cash flow. Our good old buddy warren buffett says that all you need to become fabulously rich is to take advantage of two or three outstanding investment opportunities. Sounds simple. The reason why most people don't get there is because they don't have patience to wait for the opportunity and waste their capital in mediocre ideas in the process. Buffett bought coke in 1988 when nobody wanted it in 1988 at barely 10x earnings. Now everybody owns it at 50x earnings after 20%+ earnings growth year after year over the last 10 years! Today, nobody wants TBR, even though growth prospects are high and sustainable, and you are asked to pay an outrageously low price for buying this growth. With every day TBR/H goes down, I believe a little more that this stock is one of those truly golden investment opportunities buffett had in mind.