RE: devil's advocateBill:
Kudos on an excellent post. Many of your points are on point. One thing we have to consider is that the "end game" is playing out. RF (viewed as an irritant in many M circles) is being "removed". And, the latest political flurry has forced all parties to "the wall". No more wiggle room. Politicians and business people are now required to act, or risk things spinning "out of control" (a different condition then when you are merely talking/negotiating. No real pressure in that). While I do not have many institutional people looking for advice about IVN yet, there are discussions taking place about how soon countries like Venezuela (where oil production is FALLING), Bolivia (where Brazil is pulling OUT of gas deals), and Zimbabwe (where Mugabe is possibly thrown out)- that is , all the poster children for nationalzation, end these dumb policies. That is how the big boys start the investment targeting process...early, but right on