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

To: David Petty who wrote (11621)	1/13/1999 9:44:00 PM
From: wl9839	Read Replies (1) \| Respond to of 22640

Question regarding dividends-It appears that there has been at least three separate dividend announcements regarding TBR (I assume the reporters have not yet realized it should be TBH) having differing record dates (but no pay dates) and amounts. Merrill Lynch denies responsibility for sorting out whether these are duplicative announcements or whether they are all real. I had thought that BONY might delay payouts to keep a regular schedule as opposed to this ad hoc approach. Does anyone have any better info on the dividend situation?

To: David Petty who wrote (11621)	1/15/1999 9:08:00 PM
From: TBF	Read Replies (2) \| Respond to of 22640

Macro economics + common sense + luck are sometimes better than detailed analysis. Brazil played out very similar to the panic in Asia. However, I read parts of the study by Goldman Sachs and which clearly indicated fundamental value. This was confirmed by bids by U.S. communication companies. I also go lucky buying PAP (indonesian ADR) at 5 when their were riots in Indonesia. It has a PE of about 7 or 8 and is one of the world's low cost paper producers. Regretfully my MXF and semi-conductor stocks have done lousy. I agree that TBH should be able to rech 80-100 by year end if interest rates drop and the government makes progress in budget cuts.