Carlos Slim Helú

Biography

Bought companies during Mexico's 1982 economic crisis when prices were low, building Grupo Carso. Later led Telmex and América Móvil.

The lesson

Summary: buy good assets during downturns when others are selling, then manage them efficiently.

How it helps you

Saving cash lets you buy equipment or stock cheaply when the market is down.

Practical steps

1. Set aside a fixed share of income every month.
2. Watch for discounted used equipment.
3. Buy only what produces income.
4. Keep costs tight after buying.

Sources

• Britannica: Carlos Slim