Executives bet virtual $50 mln on Latam

MEXICO CITY (Reuters) - Executives taking part in the Reuters Latin America Investment Summit were asked where they would recommend to a friend to sink $50 million in the region as a future investment bet. Below are their comments.

** Carlos Slim, Latin America's richest entrepreneur with an estimated fortune of $30 billion:

"You'd have to pay for that (tip)," Slim said, half laughing. "You have to see if he has more (cash to invest) ..."

"It would be really worth while if there were investment vehicles in Latin America that were really straightforward, proxy type vehicles, things so that unsophisticated investors could put money in something that represent the best of sectors. That is a better answer than saying A, B or C."

** Raul Padilla, chairman of Bunge Argentina, a local unit of Bunge Ltd. (BG.N: Quote, Profile, Research, Stock Buzz), the world's top oilseed processor:

"I am an agro-industry addict, so I would invest in agro-industry without doubt."

** Jorge Brito, chief executive of Banco Macro Bansud BSU.BA (BMA.N: Quote, Profile, Research, Stock Buzz), one of Argentina's fastest-growing banks:

"I would surely invest in Argentina because it is what I know. To invest in Brazil you have to have a local partner."

** Felipe Ureta, chief financial officer of Entel ENT.SN, Chile's No. 2 mobile phone company:

"He should buy Entel," he said laughing. "Chile is an attractive country. Colombia is an attractive country where some good opportunities could show up. Brazil, even with all the risks, is also good. I'd have stakes in Chile, I'd have stakes in Colombia. In Brazil (I'd be) selectively there, because you have to look at the risks."

** Gary Garrabrant, chief executive of private equity firm Equity International:

"I used to think housing in Mexico was the best idea outside of the United States. And I now I would amend that by adding housing in Brazil," said Garrabrant, who co-founded Equity International together with real estate billionaire Sam Zell.

Garrabrant said basic economic theories of supply and demand, relating to cases where demand was far, far greater than supply, drove his recommendation.

"There aren't many businesses where that's the case; where demand far outstrips supply," said Garrabrant, whose company has big stakes in Mexican home builder Desarrolladora Homex SA de CV (HOMEX.MX: Quote, Profile, Research, Stock Buzz)(HXM.N: Quote, Profile, Research, Stock Buzz) and Brazil's Gafisa SA (GFSA3.SA: Quote, Profile, Research, Stock Buzz).

"Well, it's a subject close to my heart, of course, because I literally do have $50 million to invest. Professionally, of course. And when people ask me this with a more personal tint, I answer it the same way," he said.

** Javier Astaburuaga, chief financial officer with Mexico's Femsa FEMSAUBD.MX (FMX.N: Quote, Profile, Research, Stock Buzz), Latin America's largest beverage company, making Coke products and brewing beer:  Continued...