An emerging market is a country where politics matters at least as much as economics to the market.

We don't gaze into a crystal ball. I do not believe that we predict things. I think political science is bad at prediction. I think what we really do well is in a number of instances where politics matters, we can do a better job of tell you what is happening now, than other people. So, we can look at Syria today. We can look at the Eurozone today. And we can look at areas where politics is a driver and we can give you a pretty good sense in those areas of here is how to understand today.

There is always the risk that a conflagration in the Middle East becomes larger and more dangerous. In this scenario, we discover that the Arab Spring was merely the prelude to a deeper and much farther-reaching upheaval in the region that has greater impact on countries like Iran and Saudi Arabia.

An emerging market is a country where politics matters at least as much as economics to the market.

Climate is a global issue. Coal is still the energy that is being used more than anything else to make electricity. The United States is using less as we're turning more to gas. But, around the world, that's what they're using.

In environments where corporations become too interventionist and capture regulation themselves, the government must be able to battle back so that the people have a chance.

In China, the state controls the corporations, whereas in the United States, the corporations control the state.