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

To: Steve Fancy who wrote (11405)	1/12/1999 12:44:00 PM
From: Alfredo Nova	Read Replies (2) \| Respond to of 22640

Steve, I am puzzled by the Deutsche Bank downgrade. My recent experience with downgrades: 4 different brokerages, including DLJ and Salomon Smith Barney, downgraded Mondavi in the summer when it was 32. The stock hit 20 and now was 40 recently. Granted that the Brazilian currency is volatile and that no Brazilian company has the stability of a prime winemaker in Napa, still UBB at 0.5 the book value is a steal. Bought some at 12.5 for the long term. Will try to achieve a Buffettian holding time of 7835 years from now... Alfredo