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Slim’s Pickings: Don’t Invest Like the Richest Man in the World

You'd be better off avoiding these five Carlos Slim holdings

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America Movil

Industry: Telecom
Stake: $33.8 billion
Returns: -14%

Slim owns and is chairman of America Movil (NYSE:AMX), the largest mobile network operator in the Americas — and that has been the main reason for his recent slip in wealth.

In the past month, he lost almost 10% thanks to the telecom stock’s 20% slide in price; since late 2010, AMX has dipped 32% while the S&P 500 has climbed 13%.

As Bloomberg explains, shareholders have been fleeing Slim’s company as its “dominance in Latin America and especially its home country of Mexico is under fire, with lawmakers and regulators pushing for tighter controls.”

Of course, America Movil has been looking to expand beyond the Americas, recently snatching up exposure to Europe with stakes in KPN (PINK:KKPNY) and Telekom Austria (PINK:TKAGY). Since those moves, though, shares of each company have slid 65% and 36%, respectively.

If you think the hullabaloo over regulations is overblown, though, AMX does have a huge footprint (it’s the fourth-largest telecom company in the world in terms of equity subscribers) and has grown revenue for 12 consecutive quarters.

Article printed from InvestorPlace Media,

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