Stephen Rosenman

America Movil Should Benefit from Peso Resurgence

Chris B: AMX has managed their business exceedingly well in a tough economy but has been brutalized by adverse forex. They got hit twice: first by exchanging profits into weak pesos and second by exchanging pesos into far stronger dollars for the ADR. That has changed which should make for a much stronger year. In this case, forex is critical. If forex problems had not occurred, that $14 billion dollar forex charge would have disappeared more than doubling their earnings.
Unfortunately, when I wrote the piece, the tables and graphs did not transfer over. You can see them under my instablog at Seeking Alpha.