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To: Hawkmoon who wrote (1427)1/15/1999 4:07:00 PM
From: Zeev Hed  Respond to of 30916
 
Ron, I am ready, but not there yet. I think that another 30% hair cut from here is still possible, particularly if the sudden optimism about Brazil evaporates, once people realize that a 25% hair cut the to real must be met by some devaluation in the rest of South America. That could restart the "domino" of competitive devaluation.

Zeev