It shows how the model Black - Litterman in building a portfolio of international assets helps improve the application of the principles on which the theory of portfolio selection proposed by Markowitz is based, allowing a more robust approach for diversified por-tfolios whose weights are modified according to the expectations that have on the performance of each of the assets. The main benefit of the model Black - Litterman is that the portfolio manager can do the analysis iteratively until a portfolio consistent with their expectations, which is an excellent alternative for those investors looking to analyze each of the elements that can influence the performance of their portfolios.

It shows how the model Black - Litterman in building a portfolio of international assets helps improve the application of the principles on which the theory of portfolio selection proposed by Markowitz is based, allowing a more robust approach for diversified por-tfolios whose weights are modified according to the expectations that have on the performance of each of the assets. The main benefit of the model Black - Litterman is that the portfolio manager can do the analysis iteratively until a portfolio consistent with their expectations, which is an excellent alternative for those investors looking to analyze each of the elements that can influence the performance of their portfolios.

This work proposes the use of the methodology to process real financial valuation of strategic investments in mergers and acquisitions by global companies of Mexican options. Through a concrete example it shows the appropriateness of their use in the analysis of the feasibility of buying the American company - Canadian Weston Foods by the Mexican multinational company Bimbo, purchase modeling in the context of the theory of real options as an option buying applying the binomial expansion method. Determine the value of the option to purchase Weston Foods applying real options methodology by comparing it with the premium originally agreed by Bimbo. And finally, it is determined whether the purchase of Weston Foods will add value to Bimbo.

This work proposes the use of the methodology to process real financial valuation of strategic investments in mergers and acquisitions by global companies of Mexican options. Through a concrete example it shows the appropriateness of their use in the analysis of the feasibility of buying the American company - Canadian Weston Foods by the Mexican multinational company Bimbo, purchase modeling in the context of the theory of real options as an option buying applying the binomial expansion method. Determine the value of the option to purchase Weston Foods applying real options methodology by comparing it with the premium originally agreed by Bimbo. And finally, it is determined whether the purchase of Weston Foods will add value to Bimbo.