The merger-and-acquisitions cycle and also the market are far more beneficial in Europe and Asia and in emerging markets than they are in the U.S..

I expect more of a pick-up in fund gathering this year.

Now that we're seeing it in a place that straddles Europe and Asia, it's different. It's spread so far geographically.

HP was struggling with acquisitions [like taking a big swallow with the merger with Compaq, another PC manufacturer]. Now they have taken a step back with smaller acquisitions [like Peregrine].

Exports surged significantly in almost every market, especially shipments to West Asia, Europe and Australia.

Mongolia is the best-kept secret in emerging markets in Asia.