Mexico's New President is a “Nightmare for the Right”

Summary

The video discusses the election of Mexico's first female and Jewish president, Claudia Sheinbaum, and its potential impact on the country's economy and policies. The president-elect's left-leaning stance may lead to increased social welfare spending, green regulations, and a possible shift from US-centric trade policies. The speaker shares his insights on living and investing in Mexico, suggesting a cautious approach to business and real estate while considering the new political landscape, and emphasizes the importance of monitoring tax policies and potential changes.

Takeaways

• 🇲🇽 Mexico has elected its first female president, Claudia Sheinbaum, marking a historic moment in the country's political landscape.
• 🌎 Sheinbaum is also the first president with Jewish heritage and is considered left-wing, which has led to concerns among some conservatives.
• 💼 She has a background in environmental engineering and is expected to introduce more 'green New Deal' style regulations, potentially increasing the cost of doing business.
• 📈 She has promised to expand social welfare, particularly in healthcare and education, but this could be at the expense of fiscal prudence.
• 🛑 She pledges to uphold the North American Free Trade Agreement but wants Mexico's trade policies to be more diversified, not solely focused on the USA.
• 💼 Sheinbaum plans to significantly increase wages, which may not be based on free market principles and could affect business profitability.
• 🌿 She is committed to transitioning to renewable energy and has criticized market economics, which could lead to a more interventionist government approach.
• 💡 The president-elect wants a larger government role with increased spending and taxes on the wealthy, which may impact personal and business finances.
• 🤝 She aims to deepen relationships with Central and South American countries, indicating a move towards a more global-minded stance.
• 🏠 For foreigners considering living in Mexico, there may be implications regarding residence permits, citizenship, and real estate investment due to the new policies.
• 📊 The speaker suggests a focus on individual company investments in Mexico rather than index funds, due to the potential for better returns from localized investments.

Q & A

Who is Claudia Shane Bomb, the newly elected president of Mexico?

Claudia Shane Bomb is the first female president of Mexico, with a Jewish heritage, and is a left-wing president-elect with an academic background in environmental engineering and alternative energy.

What are some of the key policy promises made by President-elect Claudia Shane Bomb?

She has promised to expand social welfare spending, particularly in healthcare and education, uphold the North American Free Trade Agreement, increase wages significantly, and fund the transition to renewable energy.

How does the speaker view the potential impact of Claudia Shane Bomb's policies on businesses in Mexico?

The speaker suggests that the new president's policies, which include green New Deal style regulations and increased taxes on the wealthy, could make it more costly to do business in Mexico.

What does the speaker think about Mexico's international business relations under the new presidency?

The speaker believes that Mexico is likely to continue doing business with more places around the world, which could be positive for the country's economy.

What is the speaker's perspective on investing in Mexico, especially in light of the new president's policies?

The speaker advocates for a more localized investment approach, focusing on individual companies rather than an index fund, as a way to potentially achieve better returns.

How does the speaker view the potential impact of the new presidency on Mexico's stock market?

The speaker notes that some stocks in Mexico went down after the election but also recovered, suggesting that the impact on the stock market might not be entirely negative and that investors should look at long-term trends.

What is the speaker's opinion on the potential for tax increases under the new Mexican president?

The speaker anticipates that tax increases could be a possibility, which might not be favorable for corporations and could affect reinvestment prospects.

What does the speaker suggest about the impact of the new presidency on foreign residents and citizens in Mexico?

The speaker suggests that foreign residents and citizens might face the risk of being pulled into the Mexican tax system, which could complicate their financial situation.

How does the speaker view the potential for social policies under the new Mexican president?

The speaker does not provide a clear stance but implies that there could be significant changes in social policies, which might be liked or disliked by different segments of the population.

What is the speaker's advice for those considering living in Mexico under the new presidency?

The speaker advises potential residents to keep an eye on tax policies and consider the implications of becoming a tax resident, especially if they plan to live in Mexico part-time or full-time.

What does the speaker suggest about the future of real estate investment in Mexico with the new president in power?

The speaker does not rule out the possibility of new taxes or regulations affecting real estate, but also does not discourage investment, suggesting that it depends on individual circumstances and the long-term outlook.

Outlines

00:00

🗽 Mexico's Historic Election of First Female President

Claudia Shane, Mexico's first female president with Jewish heritage, has been elected, marking a historic moment for the country. The speaker discusses the potential impact of her presidency on social welfare, trade policies, and business costs. As a left-wing president with a background in environmental engineering, she is expected to introduce more 'green New Deal' style regulations. The speaker also shares his thoughts on living and investing in Mexico under the new administration, noting the president-elect's plans to expand social welfare, uphold the North American Free Trade Agreement, and increase wages, while expressing concerns about potential negative effects on the economy due to increased government intervention and taxation.

05:01

📉 Stock Market Reaction and Long-Term Investment Perspective

The speaker addresses the immediate reaction of the Mexican stock market to the election results, noting a drop in many stocks, including banks. However, he emphasizes the importance of long-term investment strategies over short-term market fluctuations. He shares his personal investment philosophy, focusing on trends and future potential rather than immediate gains or losses. The speaker also discusses the potential for Mexico's growth, referencing the opinions of successful investors like Bill Ackman, and suggests that Mexico's trajectory may be more favorable compared to the US in the coming years.

10:03

🏠 Implications for Residents and Property Investors in Mexico

This paragraph delves into the possible changes in tax policies and the impact on residents and property investors in Mexico. The speaker speculates on potential tax increases and the possibility of new taxes targeting foreigners or property owners. He advises caution for those considering buying property or starting a business in Mexico under the new administration. The speaker also discusses the complexities of Mexico's tax system for foreigners and the potential for changes that could affect part-time and full-time residents differently.

15:04

🌐 Global Business Outlook and Hiring in Mexico

The speaker shares his experiences and insights on hiring and doing business in Mexico, comparing it to other Latin American countries. He expresses concerns that the new president's policies might make hiring and running a business in Mexico less attractive due to potential increased regulations and costs. However, he acknowledges the resilience of certain sectors and the importance of monitoring the situation closely. The speaker also touches on the broader implications of the new administration's policies on Mexico's economic direction and the potential for social and economic changes.

Keywords

💡President-elect Claudia Shin

Claudia Shin is the first female president-elect of Mexico, as mentioned in the script. This is a significant historical event for the country, marking a shift in its political landscape. The term 'president-elect' indicates that she has been elected but has not yet assumed office. This is a central figure in the video's discussion about Mexico's future political and economic direction.

💡Jewish Heritage

The script highlights that Claudia Shin is not only the first female president but also the first with Jewish heritage to be elected in Mexico. This aspect of her identity adds to the historic nature of her election and may influence her policies and the country's international relations, particularly with Israel and Jewish communities worldwide.

💡Conservatives

The term 'conservatives' is used in the script to describe a political group that may view the election of a left-leaning president with apprehension. The speaker suggests that the new president's policies could be a 'nightmare' for conservatives, indicating potential ideological clashes and policy disagreements.

💡Green New Deal

The 'Green New Deal' is a policy framework that aims to address climate change and economic inequality through green jobs and infrastructure development. The script mentions that the new president may implement regulations in this style, which could increase business costs but also promote environmental sustainability.

💡Social Welfare Spending

The script discusses the president-elect's promise to expand social welfare spending, particularly in healthcare and education. This is indicative of a shift towards a more social democratic approach, aiming to improve public services and reduce inequality.

💡Free Trade Agreement

The 'Free Trade Agreement' mentioned in the script refers to the North American trade pact, which includes Mexico, the USA, and Canada. The president-elect's pledge to uphold this agreement is significant for international trade and investment in Mexico.

💡Near Shoring

The concept of 'near shoring' in the script refers to the practice of relocating business operations to nearby countries, often to reduce costs or improve efficiency. The speaker suggests that Mexico could benefit from this trend, diversifying its trade partners beyond the USA.

💡Renewable Energy

The script mentions the president-elect's commitment to fund the transition to renewable energy. This reflects a global trend towards sustainable energy sources and could lead to new investment opportunities and policy changes in Mexico's energy sector.

💡Market Economics

The criticism of 'market economics' by the president-elect, as noted in the script, indicates a potential preference for more government intervention in the economy. This could influence economic policies and may be seen as a critique of laissez-faire capitalism.

💡Interventionist Government

An 'interventionist government' is one that plays a significant role in regulating and directing the economy. The script suggests that the new president may favor such policies, which could lead to increased government spending and taxation, particularly on the wealthy.

💡Global Mindedness

The speaker in the script appreciates the president-elect's intention to deepen relationships with Central and South America, viewing this as a sign of 'global mindedness.' This approach is seen as beneficial for Mexico's international standing and economic opportunities.

💡Residence Permits

The script discusses the implications of the new presidency for foreigners considering residence permits in Mexico. It raises questions about potential changes to tax laws and immigration policies that could affect the desirability of living in Mexico for expatriates.

💡Investment in Stocks

The speaker in the script shares his perspective on investing in Mexican stocks, emphasizing a long-term view and the importance of diversification. He contrasts this with short-term trading and suggests that individual stock investments may outperform index funds in emerging markets like Mexico.

💡Momentum Thinker

A 'momentum thinker' is someone who invests based on the direction or momentum of a market or economy. The script uses this term to describe the speaker's investment philosophy, which focuses on countries or companies that are showing positive trends and growth potential.

💡Tax System

The script raises concerns about potential changes to Mexico's tax system under the new presidency, which could affect both Mexican citizens and foreigners. It mentions the possibility of increased taxes and a more stringent tax residency requirement.

💡Wealth Taxes

The script speculates about the potential for wealth taxes in Mexico, which would be a new form of taxation targeting the assets of the wealthy. This is part of the broader discussion about the president-elect's economic policies and their potential impact on different segments of society.

💡Property Tax

The script suggests that property taxes could be increased or new taxes could be introduced for foreign property owners in Mexico. This reflects concerns about how the new government's policies might affect real estate investment and living costs for expatriates.

💡Citizenship

The script touches on the topic of citizenship in Mexico and how the new president's policies might affect the process and benefits of obtaining Mexican citizenship. It raises questions about the potential for increased taxes and changes to the tax net for citizens.

💡Tax Residents

The script discusses the distinction between tax residents and non-tax residents in Mexico, and how the new president's policies might change the criteria for being considered a tax resident. This is relevant for foreigners who spend part or all of their time in Mexico.

💡Nomad Capitalist

The term 'Nomad Capitalist' refers to the speaker's philosophy and approach to global citizenship, investment, and lifestyle. It encapsulates the idea of being mobile, diversified, and strategic in one's financial and residential choices, which is the overarching theme of the video.

Highlights

Mexico has elected its first female president, Claudia Sheinbaum, marking a historic moment for the country.

Claudia Sheinbaum is also the first president with Jewish heritage in Mexican history.

The election results are seen as a potential nightmare for conservatives due to Sheinbaum's left-wing policies.

Sheinbaum has an academic background in environmental engineering and alternative energy, suggesting a focus on green policies.

Economic and trade policy promises include aggressive expansion of social welfare spending, mainly in healthcare and education.

She pledges to uphold the North American Free Trade Agreement but also diversify trade policies beyond the USA.

Wage increases are promised, potentially not based on free market principles.

A commitment to fund the transition to renewable energy and criticism of market economics are noted.

Sheinbaum advocates for a larger, more interventionist government with increased spending and taxes on the wealthy.

The new president aims to deepen relationships with Central and South America, reflecting a global mindset.

There may be implications for residence permits and citizenship for foreigners living in Mexico.

Real estate investment in Mexico could be affected by potential new taxes or regulations.

The speaker discusses their personal investment strategy in Mexico, focusing on individual companies rather than index funds.

A comparison is made between the new president's policies and those of other countries, with a focus on long-term trends.

The potential impact of Sheinbaum's policies on business costs and the banking industry is considered.

The speaker shares their perspective on the importance of global diversification and the potential of Mexico's economy.

The transcript concludes with a discussion on the importance of monitoring tax policies and their potential effects on residents and businesses in Mexico.

Transcripts

Mexico has just elected a new president

very first female president Claudia

Shane bomb president-elect Claudia Shin

bomb the country's historic new

president- elect Claudia Shane bomb a

moment of many firsts for Mexico the

country has elected its first female

president and first president with

Jewish Heritage some are calling it a

nightmare for conservatives I'm going to

give you my thoughts on how to live in

and how to invest in Mexico in the next

6 years with with this new

president I've been here in Cairo for

the last few days we're working on an

R&D project with Egyption real estate

and citizenship and you'll be seeing

some of that in the next couple months

to come uh but I was talking to my

colleague here at Nomad capist about the

election of uh Mexico's upcoming new

president he calls it a nightmare for

conservatives uh he makes the general

observations the first female president

first Jewish president in Mexican

history she is the leftwing president

elect and mentee of Amo who is currently

in charge has an academic background in

environmental engineering and

alternative energy and so he thinks

you're going to see more green New Deal

style regulations which could make it

more costly to do business there uh

here's what she has promised on economic

and trade policy expanding aggressively

social welfare spending mainly

Healthcare education uh that could not

be so good pledges to uphold the Free

Trade Agreement within North America but

believes me meic trade policies should

not focus on exclusively on the USA

you've heard us say that in the past yes

uh I believe part of the reason why

Mexico has been interesting to me as not

an on the ground investment perhaps but

having interest in Mexican companies is

uh they are already doing business with

more places around the world you're

seeing near Shoring we'll talk about

this in a moment uh but you are going to

see more business from all around the

world Mexico is a is a big country and I

was talking to folks 10 11 years years

ago why do they let the US push them

around so much that seems positive to me

let's see what she does with it pledges

to increase wages significally it I I

don't imagine that's going to entirely

be based on free market principles I

hope that people's wages increase uh but

let's see how she does that pledges to

fund the transition to renewable energy

she's criticized Market EC economics

obviously that is not so good blames

neoliberal economic policies for poverty

inequality not so good uh wants a bigger

larger and more interventionist

government economic policy with

increased government spending and taxes

on the wealthy uh he surmises usually

follow there after so a lot of good a

lot of bad a couple things uh that could

be good uh want to deepen relationships

with Central and South America again I

think being more of a global minded

country is good uh and then there's some

of the more liberal social policies you

might like that uh you might not I'm

going to go

through uh living in Mexico what this

might means for residence permits if you

live there parttime if you live there

full-time as a foreigner what this means

for citizenship what this means for real

estate investment and then I'm going to

talk about what I talked about recently

which is why I'm investing in Mexico

with a focus more on stocks and a focus

more on uh the Mexican peso longterm my

belief is that Mexico has potential if

you focus more on individual investments

in companies that you know something

about rather than an index I'm not going

to give you specific stock

recommendations uh but in Emerging

Markets when you buy an index fund

you're often uh overweight on things

that may be slower growth and uh when

you make more localized Investments uh

whether it's you're you're picking your

own stocks and trading those

International brokerage account whether

you have access to Investments through a

foreign bank that's in the region uh you

will generally speaking do better so the

us next door has problems and it's

trending down we've talked about that

from day one here Mexico has its

problems always has uh amlo's been in

charge for almost 6 years now he wasn't

ideal I'll come back to him in a minute

I think the country is trending up I am

a momentum thinker if your business

makes less money every month and the

month before you can reasonably think

you're going to keep making less money

you've got a problem to fix uh I think

Mexico is trending on the way up will

this election of this President uh stop

that I think there's a number of factors

in favor of Mexico uh and here's how I

look at it if you're an American and

you've bought stocks during the Joe

Biden Administration or the Obama

Administration people talk about how

they destroyed the country that's really

not much different than saying hey I

don't like the president of Mexico I'm

not going to buy Mexican stocks uh and

if you look at you know I made it agree

with Warren Buffett on everything but he

believes that the US economy will always

be trending in the right direction I

don't agree with him on that but based

on him thinking that he continues to

invest in the US whether he likes the

president or not he's certainly more

liberal uh than I am or leftwing than I

am on on fiscal policy but you know if

you're an American and buying stocks

under Joe Biden and you think Joe

Biden's doing a terrible job and doing

some of these same things uh then what's

the difference other than maybe you

understand the US better than Mexico so

let's get into the two parts uh if you

are someone who's looking at living in

Mexico and and wondering what this new

president will mean for you we'll get

into that in in into a minute I always

love comments uh like this one LMFAO

Mexican stocks get crushed due to

leftist communist winning the presidency

guys if you have to say LMAO or L LMFAO

or any of this we get it you're deeply

wounded you need to try and like take

some of the stink off by like making

yourself seem more secure we all see

right through it we we see it as the

desperate Ploy that it is for you to

like try and look strong and tough even

though deep inside you're like oh I'm

going to get him so I can feel bad

matter about myself uh but here's what

happened uh some stocks uh many stocks

in Mexico the day of this election were

down or the day after the election were

down 10% I only own a handful of Mexico

stocks uh one of the stocks that I

invested in was actually up it's a it's

a packaged you know consumer goods you

know consumer Products Company it was up

less than 1% but it was up and since the

election it's up I think about 7% uh the

time you're watching this it may be a

little bit different but it is up it

never really went down Bank stocks got

crushed and so we'll see what she'll do

uh with that

industry um but uh one of the bank

stocks that I have yeah was down 10% and

that kind of put me back to where I

started uh but then it came you know you

saw a 3% jump 4% jump 1% jump uh so you

saw people buying and you know I gener

like to take my advice I am not a

professional investor I'm someone who

looks at Trends I want to see where the

world is going and I invest for 10 20 50

years into the future I'm not a mem

stock uh Trader I don't think you can

call someone who buys meme stocks an

investor doesn't mean there's anything

wrong with that but you're trading

you're not investing I'm looking at

where the future is and listen on Mexico

I may be proven wrong we all know Latin

America's a history uh as one person

said when things get too good they bring

in someone that's very left-wing to uh

you know potentially try and ruin that

uh we all that to me is baked in but my

point on following people who are more

successful than I am you know Bill akman

said it pretty clearly you may or may

not agree with his more political stance

recently uh but he said listen you want

your stocks to go down uh I get it same

like everybody else it's nice to uh go

and look and oh and I you know made some

money in the stock market today but he

says you know if if you're my age uh or

many of our ages uh you want your stocks

to go down why because you can buy more

and so I didn't have the chance to do a

lot of that but I got to do a little bit

of that when something was down 10% and

now it's you know maybe it's down 3%

since then uh I'm not buying stuff for

selling it next month I'm buying stuff

because I think and I said this if I

were to have a child I'd rather they be

Mexican than American I think 18 years

from now the momentum you know Curve

will be far more visible between Mexico

and the US they will be much closer so

Mexico is a large country they have

resources I see the trends towards near

Shoring um if the free trade Free Trade

Agreement is upheld you know that could

be good investment from Asia is

increasing uh opening up beyond the USA

I think all that stuff is good uh by the

way I own stocks in countries that I

absolutely would have no kind of

business of my own like in France I have

one of my best performing Financial

Services stocks is a French company I

bought it several years ago it's

outperformed US Banks um it's

outperformed uh a lot of financial

services companies around the world pays

one of the healthiest dividends in that

space that there is uh would I start a

business in France would I move to

France absolutely not we've we've been

very clear on my thoughts on France uh

but you know my exposure to all that

icky stuff in France is limited to hey

here's a company who knows how to

navigate that they're still profitable

the stock goes up they pay me a dividend

uh and it's done well and so I think

Mexico has more room to grow than France

and so you know if the policies in

Mexico become as bad as the ones in

France where you can never fire anybody

just the kind of stuff that maybe this

new president likes talking about uh

does that mean the end of those

companies I am not so sure let me be

clear uh it may not work out as well as

I think in Mexico that there could

always be that risk uh I I think that

you know I mean like anybody have a

portfolio where a lot of stocks are up

and a handful of stocks are down and

sometimes you cut the losers but uh you

know my thought again remains macro it

remains you know multigen you know

multi- decades long

um and again I look at you know if you

would buy stuff in the US if you would

buy a global you know index fund that

had exposure to France Germany's not

that much better uh you know they have

some of the same policies but I may

agree with the new president elect I

would not and let's get to this part I'm

not saying this is a good time to go and

start a business in Mexico but I can buy

shares of other people's businesses and

because this is no mad capitalist and we

talk about global diversification we're

talking about less than 1% of my net

worth so um no matter what happens it's

not going to be the end of the world the

peso the peso did uh go down great you

know if you believe in the story long

term buy more pesos uh the peso is still

you know stronger than where it was I

was looking at the chart not that long

ago um if you look at how the peso was

done since the pandemic it's still done

very well so you know I don't

necessarily look at these day-to-day

things is the president elect some of

the alliance of values most of the time

not so let's talk about uh living and we

talked uh within my team again with the

folks in Latin America what they think

Could Happen tax increases could come is

that going to be great news for

corporations uh no not necessarily and

that could hurt you know some growth or

some reinvestment prospects maybe a

dividend gets cut somewhere uh but

Mexico has always had this weird tax

system where if you're a foreigner let's

say you have a residence permit lots of

people that we work with is clients

choose to get Mexico residence permits

they may just keep it in their back

pocket and really not spend any time at

all there or they may go and spend part

of their year there but those who have

talked about spending the majority of

their time there the question has been

there's different ties that if you can

avoid those you may be able to avoid

being a Mexican tax resident could the

new president get around to fixing that

and mean and and going to a standard if

you spend here uh3 days a year you're

going to pay maybe it seems like a

pretty Niche thing to focus on when

she's talking about so much big bigger

priorities is it is it so important to

to suck a few more T foreigners into the

tax system maybe they do that maybe it's

part of some larger Bill uh that's

possible so if you're living full-time

in Mexico maybe there's a risk that

you'll be sucked into the tax system the

taxes are already not great and if you

get sucked into the tax system uh you do

have to wait generally three years to

fully get out of it depending on where

you live so that's not something that

you want maybe they they tighten that up

maybe they don't um who I think it's

worse for is if you're already living

there if you're a Mexican yeah your

taxes very well may go up for all this

social spending for for those folks who

are already in the tax system if you are

anyone Mexican or Foreigner who is

paying taxes in Mexico I would expect

that eventually they're going to come

and ask for more um you know I don't

know that a wealth taxes perhaps on the

table um I think that those don't really

work that well and I think a lot of

countries have seen that even very left

lading ones income taxes could go up new

taxes come could come into play so I

think most foreigners go and live in

Mexico unless they're really embedded in

the society you know 365 days a year

they own a home they're doing business

locally most foreigners at least the

ones that I know are not in the Mexican

tax system and so this won't affect them

and we'll just have to keep an eye out

for new rules that might more easily

suck you in if you're living there you

know part-time which even then might

only apply to you if you don't spend the

other time in let's say a 3D country so

I don't see huge issues for people who

live in Mexico part-time I I do see

potential po big issues if you live

there full-time and you are a taxpayer

again particularly because there is a

period in which case you have to kind of

transition yourself out of the Mexican

tax system it is a harder tax net to uh

get out of what's going to happen

socially uh that's something that I

can't uh predict but what happens when

countries go leftwing would I be in a

rush to buy property in Mexico uh I mean

if that was my home and I wanted to have

it I you know to some extent I look at

property as if I own it that's a

lifestock expense and you know if I'm

going to live there and I just want the

property and I feel like I will continue

to live there uh then maybe I would I'm

not going to I can't give you advice on

whether to buy a property but I

certainly wouldn't rule out a new

vacancy tax for example uh that I don't

think that's been discussed by the

president-elect but that kind of thing

could come into place to to talk about

hey these foreigners are coming and

buying our homes and if they don't live

there that often hey let's put some new

kind of tax on or let's have a property

tax on foreigners or let's raise

everyone's property taxes that's the

kind of stuff that could happen I don't

necessarily see an issue with getting a

residence permit uh certainly citizens

are more likely to fall into the tax net

than pure residents and so if you get a

residence permit with the option of

converting it to citizenship that may

you know be less interesting if you

actually want to live in Mexico but if

you don't live in Mexico it may not be

as much of an issue so uh for people who

want to spend a decent chunk of Time in

Mexico there's some planning to do uh

otherwise you know I think making you I

would not be rushing to open a business

in Mexico right now uh we do hire people

in a number of countries in Latin

America um for some reason because I

really thought Mexico was going to be

fantastic I know so many great um you

know Mexicans uh we've had much more

success in Colombia Argentina than we

have in Mexico uh so hiring people in

Mexico you know having a company like

what are the regulations around that

that might also get worse uh that said I

mean we as a Professional Services firm

you know already paying people plenty

well uh I would imagine the first

priority is exactly what Amo did which

was uh the pandemic through the pandemic

hey we can't shut down people who make

money from running you know little you

know Street retail we can't put them all

out of work we can't put them all you

know the poverty line and that's a big

reason of why Mexico remained open

during the pandemic so you know I'm not

a perfect you know right-wing

conservative in the sense of um you know

I'm low you know whenever you want to

say about it I mean the country stayed

open during Co it was one of the most

open places in the world the argument

was somewhat of a leftwing economic

argument but I would imagine that even

again hiring people in Mexico uh if

you're hiring folks professionally and

not for you know factory work or

something would still be better but you

does this make me slightly less

interested to go and and hire people in

Mexico perhaps it does yes um because

there are good countries in uh Latin

America where they're they're trending

in the right direction so not a fan of

the president elects policies at least

most of them uh by the way listen

there's even things uh you know that

Obama did that I would agree with not a

huge overall fan of Obama um but you

know to me you can always pick something

does that mean I like this President

elect a lot no uh I don't I do think

there's companies that are going to run

in Mexico the largest banks aren going

to go out of business uh bakeries and

consumer you know products companies are

not going to go to business could it be

less profitable maybe and so I'll

monitor it and I'll see and and maybe uh

other you know country stocks will

outpace my Mexican stocks and I'll

adjust accordingly while in the meantime

collecting above average dividends which

is part of what I personally do in my

Investment Portfolio is seek yield

because I already have a growth stock

it's called my business so I think that

those are the things that you want to

watch out for keep an eye on your stocks

if you're buying Mexican stocks keep an

eye on which ones that you think will be

resilient plenty of resources companies

I mean there's resources that are in

high demand what's going to happen with

that you know buy what you feel

comfortable with I still believe in the

country long term I still believe in

having residence permits there I still

you know believe in potentially living

there part-time keep an eye out for the

tax policy this is all the stuff that

we're going to be talking to our clients

about because we read the tax journals

we read all the different Publications

we see what's happening on the ground

and if things change we'll be talking to

our clients about it so uh you can learn

more about how we help people do that at

Nomad capitalist

tocoma we'd be happy to talk to you

about whether Mexico is a plan a plan B

plan C Plan D is it a residence permit

I've never said that banking in Mexico

was a great option other than maybe

having a small casual bank account to

pay bills that's something that I

wouldn't be in a rush to do um you know

I've never advocated to buy Mexican real

estate and I think that those positions

might remain the same but stocks and

part-time living and residence permits

are all things that potentially uh could

be part of your overall Nomad capitalist

mix