World’s richest man Mexico's Carlos Slim

Mexico's Carlos Slim 70years, named the world's richest man on Wednesday, has amassed a fortune of $53.5 billion, beating Microsoft founder Bill Gates to top the list of the world's richest people, according to a new ranking published by Forbes magazine.

Slim’s business empire includes some of Mexico's best-known department stores, its biggest telecoms operator, hotels, restaurants, oil drilling, building firms and Inbursa bank -- making it hard to go a day in Mexico without paying him some money. Outside Mexico Slim has holdings in such prestigious groups as retailer Saks and New York Times Co.

In 1987, when stocks nosedived during one of Mexico's many crises, Slim saw opportunities where others feared disaster, picking up low-priced shares and selling when they recovered.

"We know that crises are always temporary and there is no evil that lasts 100 years, there is always an overshoot," Slim once said. "When there is a crisis that provokes an adjustment, an overreaction comes along and things get undervalued."

Businessmen, he says, do more good by creating jobs and wealth through investment, "not by being Santa Claus."

http://in.reuters.com/article/businessNews/idINIndia-46816720100310?pageNumber=1&virtualBrandChannel=0

http://www.forbes.com/lists/2010/10/billionaires-2010_Carlos-Slim-Helu-family_WYDJ.html  Carlos Slim Helu & family

http://www.forbes.com/2010/03/10/worlds-richest-people-slim-gates-buffett-billionaires-2010_land.html?boxes=Homepagelighttop  The World's Billionaires

My View: Above data has been taken from various sources and the important lesson I learn from reading is People who can make use of crisis to best effect have made better fortune. But many common investors buy euphoria almost near top and sell in panic near bottom, bad or good time never last. There was a time when Legendary Warren Buffet was sitting on cash 2005-2008 for a major crisis and he was criticize for that and there were rumors that time that he applied for ONGC public issue he waited for 2009 panic to bailout big companies to make fortune for his investor. Today I am unhappy as majority of Indian investor here want quick money and they lose their hard earned money what is the use of banning lottery, racing and cricket betting now many in stock market want to do that. There is no secret to make money overnight. many time traders ask me, “Can you tell me best way to make money in Intraday without losing money” If I knew way of making money without investing money why I would spend 16hours daily on research travel to many town and cities to give seminars and do investor meet or why would I write a article like this. I would have come in Forbes rich list for my 22years experience in stock market; I have never seen a rich technical analyst said a visionary and u can never find one.