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

To: djane who wrote (7326)	8/31/1998 10:09:00 PM
From: djane	Respond to of 22640

Telling excerpt from thestreet.com. Tax loss selling thestreet.com Simons [Neuberger & Berman mutual fund manager] has done some selling. He unloaded his position in Northwest Airlines (NWAC:Nasdaq) last week. "Our fiscal year ended today. Last day of the year we could take a tax loss," he says. "There are some things we have losses in that we don't want to sell." But he decided to sell Northwest and redeploy the money to something else. "Ninety percent of reason was to take the tax loss." The recent selling is indiscriminate, Simons says. "Everybody wants to raise cash" he says, "Most managers have been conditioned to fear inflation and higher rates, but now the specter of deflation has raised its head." With a more global economy and global market, American portfolio managers don't feel as on firm ground; they are trying to assess what's going on in Russia and Asia

To: djane who wrote (7326)	8/31/1998 10:11:00 PM
From: djane	Respond to of 22640

Gov't may restrict imports, source says Aug/31/98 at 02h03 pm ET Bras¡lia, 31 - The exports incentive measures to be announced by the government next week may be followed by others restricting them. However, no guidelines have been adopted as of yet. The idea that raising exports is not sufficient to offset the country's external accounts has been calling the attention of several sectors of the economy. Telecommunications minister, Luiz Carlos Mendon‡a de Barros, admitted yesterday that the government should be more selective in relation to imports, especially to "predatory competition". "It's his personal opinion, not the government's," said a member of the government's economic team, who agreed however, that there are some officials sharing the same view. Import restrictions, which were abandoned during president's Fernando Collor de Mello's administration, and followed by president Fernando Henrique Cardoso, may be what is missing in the fight to protect the country's economy, analysts said today. As the outlook on the world's economy deteriorates, the government expects a strong reduction in the offer of credit lines to emerging markets, which leaves it with no other choice than reduce its dependency on foreign markets to finance its internal accounts. (By Beatriz Abreu) Copyright c 1996 Agˆncia Estado. All Rights Reserved.