Added to my Telefonos de Mexico (TMX) position.  I am now up to a 1/2 position. 

This stock is just so darn cheap.  It has a p/e of 8.5 (forward p/e of 8.1) and a dividend yield of 3.6%.  I like those stats. 

Why is Telmex cheap?  The company has a fantastic monopoly with plenty of government protections.  Those protections are at risk.  While that is true, deregulation happens slowly (especially in Mexico).  Carlos Slim and Telmex are both important to the Mexican government and economy. I do no think the government will enact any deregulation that will scuttle TMX cash flow.  And I believe that Telmex will adjust by making sure its dominant position includes the internet; Carlos Slim Helu is still Chairman of Telmex and he gets technology and the future.  See Business week interview with Slim here.

Disclosure: Nothing in this blog is meant to be a recommendation to buy or sell.  I do not give investment advice.  Do your own research.  Do not rely on anything in this weblog to make investment decisions.  I do not log all my trades here. I only those that I think might be interesting. Consult your own investment professional before buying or selling any security.
 
I own Telmex ADRs (TMX).  I do not own Grupo Carso (Carlos Slim's holding company) but am investigating buying it.