Nope, no kids. I don’t really have any interest in kids. I’d be a horrible father. I’m too selfish. I have no nesting instinct whatsoever.
Actually, Slim’s father was extremely wealthy so he had a lot of capital to start with. Also, he was very well-connected politically which helped in his winning bid for Telmex from the Mexican government, which is the largest portion of his net worth. Also, he got to pay the purchase price to the government over a period of years with the earnings from Telmex – nice terms if you can get them. He’s a real operator. Don’t get me wrong – Slim’s done well; that’s stating the obvious. But most of his wealth stems from a set of advantages – prior wealth and political connections – that most will never have. I have a lot more respect for Buffett.
I’m in the middle of a private deal in Mexico right now so I’ve heard lots of sordid stories about Slim, Hank and the other Mexican Plutocrats… the corruption down there is truly staggering. And they’re mostly Catholics. Go figure.
Like you, I’m hoping to see lower asset prices as well. It would be good for the pocketbook as well as the long-term stability of the system. Until then, perseverance rules the day…
