We aren't totally unsympathetic to hedge funds that are in the process of losing their shirts. But when you invest in emerging markets, perspective is important. No one who spends most of their time in New York (or Stamford) can really connect with a culture whose mobsters (and really, what is closer to a true market economy than the black market) cannot fail to have the obligatory black Mercedes inscribed on their tombstones. Absorb that. Now, tell me that you understand this economy well enough to deploy capital there.