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sina, sort of twitter of china, is it not. >> that is correct. there was a recent ipo of the sina wait bow. -- wait bow. -- waebo. they control 50% of the eales in russia. david: look how that stock has been beaten down of the not a bad time to get it. move, finally has to be final one, brazil. we talked about change in leadership. they have had a change in leadership to someone not very market friendly, she is not known as being friendly to the market as all but a company called smiles. tell us about smiles. >> this sort of touches on my first point. as the public approval is dropping had stock is rising. so what we want to do is invest with private sector entrepreneurs. smiles is a recent spin-off of an airline called gold. it is rewards program. so what they do, they issue miles to credit card customers and frequent flyer customers and then when those miles are redeemed they purchase airline seats from gold. they have a very long-term, very favorable agreement with gold, so they can buy seats at a big discount, affording a great value proposition for their customers and also very high margins for the company, 28, 30% for the margins of