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

To: Alfredo Nova who wrote (11989)	1/19/1999 1:10:00 PM
From: Steve Fancy	Respond to of 22640

Alfredo, Couple things...first, I don't invest on analyst opinions. Always interested in what they have to say, but I make my own decisions. Second, in regard to options...I'm not generally a call buyer. I prefer selling puts. This is what you do if you want time to work for you rather than against you. Further selling puts is a great way to potentially pick up stock at a discount to current market prices. For instance, someone recently sold 10 puts on UBB for around 2. If the stock pulls back to say 9 at expiration, that person will own the stock at 8. If the stock is above 10 at expiration, it's money in the bank. I have been buying calls on selected Brazilian telco's and UBB because they seem to be no-brainers. Perfect time to buy when they are close to 0. With options, if careful, you can generate much higher returns with the same amount of cash than owning stock. I do however respect anyone who doesn't feel comfortable with them. It's easy to lose money also. Selling in the money puts (something I don't generally do) is basically like owning the stock with much less cash out front. That said, I do also own the equivalent of 400 shares of TBR pre-split. Regarding UBB, you hit the nail on the head. It's trading at a fraction of book...a great longer term investment as well as potential short termer. Appreciate your input also...hope you hang around. sf

To: Alfredo Nova who wrote (11989)	1/19/1999 1:19:00 PM
From: Steve Fancy	Read Replies (3) \| Respond to of 22640

We got about two inchs of snow last night...I have 3 foot drifts in my driveway....unbelivable. I've got to get it cleared so my wife can get out. Will be back with the news. Don't expect much on voting news till the end of the day...most likely after the bell. Nice gain in TNE so far today. Looking for 20 by April expiration on this one. sf