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

To: David Petty who wrote (11450)	1/12/1999 12:53:00 PM
From: Alfredo Nova	Respond to of 22640

David, I read a very interesting report from First Boston, dated 7/22 and 7/30 on the Telebras privatization. It mainly commented how the privatization went and who got what. First Boston research is now available on Schwab website for a very modest fee. TCP seems quite appealing: cellular business, owned by WCOM, down 50% since IPO. Do we now any valuation numbers: price/book, price/sales, estimated PE? thanks, Alfredo

To: David Petty who wrote (11450)	1/12/1999 1:40:00 PM
From: Steve Fancy	Read Replies (1) \| Respond to of 22640

David, so where do you buy? The selling is becoming extremely overdone. It's not even moving on it's own concerns at the moment...simply moving with the DOW after initial down open. I think it's going to bottom shortly. I sure like listening to myself type don't I. 60 is absolutely ridiculous. Watching for the 3:00 close, but I'll probably be a buyer yet today. Missed the opportunity last time as you frequently point out. Look at TSP...17! What a joke. sf

To: David Petty who wrote (11450)	1/13/1999 6:54:00 AM
From: RockyBalboa	Read Replies (1) \| Respond to of 22640

OT, David, AOL Options ... puts? I will yell once more if I "feel" a true bottom. However there is no assurance that I'm correct. If there is a bottom, UBB and the smaller cellulars should make up for spectacular trading buys. I agree with SF that the cellulars are no good for a longer-term portfolio. In the meantime, the 5-y petrobras euro debt trades with a 10%+ yield (a 650+bp spread to Euro debt), a level not seen for months. Recently I felt only tops, not bottoms. The European stock "investors" (gamblers) are getting fried alive in these days. The geman dax span in the first few days of 1999 is 5500 (high) to 4995(low) and we hit the low and sit at 5000 right now. The charting bottom is 4100-4300 (cough!). Another OT, there is free money (on the short side) in DBCC. Much free money. All a matter of timing and good mo play. C.