Grupo Televisa (TV-N)

(A Top Pick Jan 7/13. Up 4.33%.) When it became apparent the developing markets were behaving a little bit more poorly, he exited his position at about $30. Great company and ultimately it is in the right group but he prefers to focus on more US domestic companies.

One of the key leadership themes globally is media companies. Content providers in particular have been performing really well. Big concern he has overall is finding areas of secular growth because so many of the consumer markets are hamstrung by debt laden consumers. This is the largest media company in the Spanish-speaking world. Based in Mexico. 60% of its revenues come from broadcasting and selling advertising. Mexican household has the least amount of debt of any developed country globally. Very young demographic. They have seen an increase in ad sales and cable sales and are a relatively new competitor in wireless in Mexico. They are selling their content into other countries including the US.