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

To: Steve Fancy who wrote (12237)	1/22/1999 10:59:00 AM
From: KonKilo	Read Replies (2) \| Respond to of 22640

Question: If TBH is the basket stock for the 12 Baby Bras, what is TBR?

To: Steve Fancy who wrote (12237)	1/22/1999 11:01:00 AM
From: wl9839	Read Replies (2) \| Respond to of 22640

Another chapter in the Itamar faction versus Brasilia. Interesting how this story has dropped off the radar screen for the last couple of days. Politics Fri, 22 Jan 1999, 1:54pm EDT Brazil to Notify World Bank of States Debt Default Brazil to Notify World Bank of States Debt Default Sao Paulo, Jan. 22 (Bloomberg) -- Brazil's ministry of finance said it will formally notify international lending agencies such as the World Bank that two states are defaulting on their obligations with the central government, making it harder for them to obtain credit abroad, Folha de S. Paulo newspaper reported. The move comes after Minas Gerais and Rio Grande do Sul, Brazil's second and fourth most populous states, announced they would suspend payments on debts they owe to the federal government. The ministry said that after the notification, the states may loose as much as $379.7 million in funds from foreign creditors. The state of Minas Gerais said this month it didn't have the cash to make its monthly payments on the $15 billion it owes the federal government. (Folha 1/22; 1-7) ------------------------------------------------------------------------ ©

To: Steve Fancy who wrote (12237)	1/22/1999 11:11:00 AM
From: steve kammerer	Read Replies (2) \| Respond to of 22640

Steve, I think you missed my point. At $65 US the stock IS valued where it was in summer when it was $130 US. The difference is the currency change. That means that for us who are long to make any profits: 1. currency needs to go back to 117 (unlikely). 2.The stock has to make the climbs we were looking for when it was $130US. Back then we were looking toward $200 US. That equates to $106US in todays' environment if Real holds at current levels. That makes it a real (no pun intended) stretch to get to actual profit levels for those that bought last Spring much less break even. stevek