It is premature to believe that Middle East tensions have been resolved or that the equity markets have bottomed out,

TSG is competing with Middle East, East Asia and Europe in offering prices that are either lower or at par with these markets.

It took from 1967 to 2003—over three decades—to build the big men. It took a decade—2003 to 2013—to destroy them. I suspect a new generation of big men will return. No people can tolerate chaos forever. Dictators will offer a way out and many of the exhausted and brutalized people of the Middle East will accept them, and I suspect Washington will as well.

This was the first time I had come face-to-face with the other side of fundamentalism. The fundamentalism that I saw in my neighborhood was sexist and misogynistic and small-minded, but it wasn’t violent. It was giving and loving and brotherly. It was about helping the poor, and since everybody was poor, that meant everybody helping everybody. There wasn’t the kind of urban meanness you find in many American cities. It was as if a farm community had been transplanted to the city.

Ironically enough, the United States had almost nothing to do with the age-old conflict between Islam and the West. The founding of Constantinople, the birth of Islam, and the Crusades occurred centuries before North America was even colonized. The United States was only peripherally involved in creating the borders of the Middle East after World War I. This centuries-old conflict was not America’s fight, but Washington blundered into it and chose to make stabilizing the Middle East its main foreign policy objective.

After World War II, and especially during the Cold War, the United States became the guardian of Middle East stability. Islamic fundamentalists believe the United States has been policing a Middle East full of divisions that were deliberately put there to keep the region weak, keep Israel secure, and keep pro-American autocracies in place in Egypt, Saudi Arabia, and, until 1979, Iran—in short, to keep Muslims locked in a nation-state system that thwarted the rightful destiny of Islam.

Ottoman provinces were re-formed and cobbled together into states. The region was carved up with little regard to ethnic, religious, or territorial concerns. The flawed and cavalier treaties of World War I explain to a large degree why the Middle East remains unstable and angry today. Every Muslim schoolchild is taught this arc of history and resents it: Islam’s golden era of the Arab caliphate, the Crusades, the Mongol devastation, the rise of the Ottomans, World War I, the carving up of the Middle East by Europe, and the poverty, weakness, and wars in the Muslim world of the last century. This is the basic and sad narrative taught at every mosque, and it has the benefit of being broadly accurate.