Watching out for the minefields

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Political risk analysis is a growing business, both inside and outside funds, as global uncertainty grows

Wherever they invest - in emerging markets, commodities, currencies or even the world's biggest stock markets - hedge funds are facing more uncertain terrain than ever before. Against a backdrop of global terrorism and ongoing war in the Middle East, the list of potential minefields is growing: Iran's drive to attain nuclear capabilities and the possibility of a U.S. military response, a wave of populist leaders rolling into power in Latin America, tensions between China and Japan, and a