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

To: Tony van Werkhooven who wrote (12366)	1/26/1999 9:37:00 AM
From: Worswick	Respond to of 22640

Ah, the blank. Ref. yours: "Clark- it seems to be a game of musical chairs, where only the US is left out- ready to buy from all comers, with all purchases financed by dollars flowing overseas. If that ever came to a halt, then...... The biggest risk is probably a strong euro. Now fill in the blank. Tony The blank Tony is that having spent many, many months in Europe in the last ten years....the European "establishment" and their institutions are like a cozy Southern town in the US circa 1955. The establishment all knows each other; and,no one will rock the boat. If you think cronyism existed in Hong Kong or Thailand amongst the Chinese business communities Europe is rife with 5x that cronyism. Wait....until we learn the positions of the mid sized European banks. This is not one of the rotaries finest moments. Best to you, Clark