I do now. What a crook. I bet he's behind the drug trade cartels as well.
Someone ought to inform him that you can't take it with you, and he's looking rather aged indeed.
May 4 (Reuters) - Billionaire Carlos Slim's Minera Frisco (MFRISCOA1.MX) mining company increased its short position in the silver market in the first quarter to fund its development program, according to company filings.
Frisco reported a short position of a notional 34.478 million ounces in silver swaps at an average price of $25.06 per ounce as of April 30
The company was short 24.840 million ounces at an average price of $18.82 an ounce as of Dec 31
Frisco also held a notional 61.28 million ounces in options collars on silver with a long put positions at an average of $23.82 an ounce as of April 30, along with offsetting short call positions at an average of $39.97 an ounce.
As of the end of Dec 31, Frisco's silver options collars amounted to 45.280 million notional ounces with an average put price of $21.79 per ounce and an average call price of $39.70 per ounce.
The positions mature between 2011 and 2013.
Frisco's hedging positions are heavily out of the money even after silver's recent correction. Spot silver was bid at $39.36 an ounce in late trading on Wednesday.
He's selling futures against future produciton.
And for a good price.
This may be viewed as "Shorting" since he's selling at higher prices to hedge against them going lower.
THATS EXACTLY WHAT THE MINERS DID IN 82!!!!