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

To: Steve Fancy who wrote (12023)	1/19/1999 11:37:00 PM
From: Alfredo Nova	Read Replies (1) \| Respond to of 22640

Steve, thanks for the explanation about calls and puts. I will try to focus on it, but my very excellent broker at JC Bradford tried one day to explain those to me without success. I agree with your point of view on analysts. I am trying to have access to at least four major brokerage houses online, so I can read their stories , but just like you said, I have only rarely bought a stock exclusively for the analyst report. I always always always look at the numbers. Look at S&P numbers, which go back sometimes 10 years, and I love this new thing on Charles Schwab Select called Provestor from Marlet Guide. It is however helpful to have analysts following a company. It was encouraging for me to buy Unibanco that DLJ followed it and so did Merrill Lynch. The previous targets on UBB were 49 and 37 dollars, with the stock much higher. They can however only miss targets so many times in a row on a stock. Eventually, the numbers will be seen if they are good. Interestingly, DLJ has downgraded Unibanco last week (I get only short versions on DLJ direct, while the DLJ private clients should have the whole thing in real time). But how can you reasonably downgrade a stock which was down, at 10, 75% from its high? Blue chip, high dividend, no debt, large cap company? This reminds me of Robert Mondavi, which I bought in the low 20s after 4 different brokerage houses downgraded the stock, only to ignore the steady growth in revenues and eps, the superb brand name and management etc Of course the stock has doubled since and is now upgraded by a bunch of people. One question to you: what do you think of Banco Santander's merger? Would you buy the stock? See on Merrill Lynch what they say. I love their very timely research and well written notes, saluti e grazie Alfredo