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

To: Steve Fancy who wrote (12298)	1/23/1999 3:52:00 PM
From: David Petty	Read Replies (1) \| Respond to of 22640

Hiya Steve! Been very busy lately so I kinda quit posting... did not really have anything pithy to say in regards to this insanity. I guess the thing that would blow the whole thing apart would be the return of hyper-inflation, something that may be all to easy to return to since it had been pretty much a part of Brazil (LA) for so long... As I have said before, I do appreciate your hard work and the reports but we are in some pretty powerful currents right now and I am not sure which shore we are going to land on. My bet is that one step before the door to hell closes behind us, we see a true sun break through with stairs leading to the light and we start climbing. This week's UBB numbers sure looked ok at first perusal... Tony sent me their financial statement (1997) but I have not looked at very thoroughly. As you have said before, the prices we are looking at seem already to be at (or close) to worst case scenarios (on say TNE, UBB, TSP, TCP, TCS, TSD). This will end up just fine eventually (these stocks do have earnings- discounting some of the inevitable restructuring charges that Embratel and others are taking for a couple of quarters), but for now we just ought to play some of the swings. Take care!