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

To: steve kammerer who wrote (12246)1/22/1999 11:39:00 AM
From: Steve Fancy  Respond to of 22640
 
Steve, sorry. I think the real will rebound somewhat when this all done and over. We were looking for '98 year end values on TBH of anywhere between $150-$200. We know the buyers valued them much higher than that. Suppose the only reassuring thoughts I can offer is that those were basically starting prices reflecting fair value immediately after the auction. The story was expected to get better from there, with some feeling US$300 and up by year-end 99.

In the meantime you may want to look at selling covered calls into any significant rally. You can get quite the premium on TBH calls. Or another trick of mine is to sell calls on half the position when holding 1K or more shares.

sf



To: steve kammerer who wrote (12246)1/23/1999 3:16:00 AM
From: Z Analyzer  Read Replies (1) | 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. >>
How does a currency falling from 117 to 170 equate to the 50% fall which would be required to make the stock at $65 the same as $130 previously?


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