Each year Steven Halpern, editor of TheStockAdvisors.com, surveys the leading financial newsletter advisors asking for their favorite stocks for the coming year. This article is part of his 24th annual Top Picks Report.
America Movil (NYSE: AMX) is the top conservative idea for 2007 from Nick Vardy, editor of The Global Bull Market Alert. He notes, "Mexican billionaire Carlos Slim vies with India's Lakshi Mittal as the world's third-wealthiest man, just behind Bill Gates and Warren Buffett.
"Slim made his fortune through his Latin American telecommunications empire that includes American Movil. Spun out from Telefonos de Mexico five years ago, America Movil is Latin America's cell phone goliath with close to 110 million subscribers.
"Holding a 70% share of the Mexican market, its wireless network reaches about two-thirds of Latin America's population, and the firm continues to grow its already expansive footprint.
"Squeezed out of Venezuela by Hugo Chavez's anti-American campaign, U.S. operator Verizon is not only exiting that market, but also selling its assets in Puerto Rico and the Dominican Republic. But Verizon's loss is America Movil's gain.
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