There might be a misunderstanding in the market regarding Alfa's deal with Ford, which is in fact a pooling of assets and which in our view is going to be accretive to Alfa shareholders.

There were a lot of rumors going around about comments that Mr. Greenspan made. One was regarding the housing market.

In the overall market, it's just going to be more of the same with a good deal of volatility, ... It's been a long bull market and, in the event that the market might turn bearish, there's more than a usual amount of nervousness about holdings in long positions. Investors are locking in profits in a more knee-jerk fashion than they would be if we were dealing with a more stable environment.

Ford didn't give much substance on the call in terms of what the market was looking for. Everybody knows the auto industry in North America is in bad shape, and Ford didn't disappoint in that regard. The earnings stunk.

The market is misreading and misunderstanding the story. The story is the capital account, not, I repeat not, the current account.

The fact that Vicente Fox not only won by a wide margin in a clean election, but also represents another party different from the PRI makes him a more reliable partner.