Carlos Slim: Success Secrets of the Wilxy Mexican
Zac Bissonnette @ Blogging Stocks
Read this interesting piece about Calos Slim's "success secrets" and the traits he shares with the others in the filthy wealthy club - who else but Bill"ion" Gates and Warren Buffet.
"It's hard to spend a day in Mexico and not put money in his pocket. The 67-year-old tycoon controls more than 200 companies...in telecommunications, cigarettes, construction, mining, bicycles, soft drinks, airlines, hotels, railways, banking, and printing. In all, his companies account for more than a third of the total value of Mexico's leading stock market index, while his fortune represents 7% of the country's annual economic output.
His secret? Monopolies. He has a stranglehold on the telephone industry in Mexico, and has drawn the inevitable comparisons to the robber barons of the early industrial days of the United States...I do note an interesting similarity between Warren Buffett, Bill Gates, and Carlos Slim, the world's three richest men: Gates built his fortune by creating a product that everyone needed and has many monopolistic qualities. Buffett built his by buying brands with "strong moats" at reasonable prices. Slim has sought to eliminate competition in the industries he operates in."
So, the similarity Zac sees is that they dug a moat, dug in deep and just kept making their fortresses stronger every day...
Hmmm...
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