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The direct investment approach, however, is not for every fund.
For every fund that beats the market, three typically come up short.
It happens to every fund manager, the spell when the magic touch disappears.
But not every fund family finds its customers eager for a virtual relationship.
Reflecting the breadth of the advance, virtually every fund group had positive returns.
"Every fund manager that I speak to who knows Mexico well speaks about energy reform," says one.
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By contrast, a donor might decline to be named so as not to become a mark for every fund-raiser in town.
A spokeswoman for Mr. Chambliss said that every fund-raiser and expenditure was documented and reported according to the law, and that he gave the maximum allowed to his colleagues.
His competitive instincts are as keen here as in business; he told me that every fund-raiser that he has chaired or at which he has been the honoree has set a new record.
"The post-election fund-raising by both sides is a lamentable coda to a campaign season that has broken just about every fund-raising record," said Scott Harshbarger, the president of Common Cause, a group that advocates changing campaign financing.
"Given the expense of American presidential elections, every fund-raising opportunity is important, and you've got to take advantage of it," Mr. Giuliani said after joining his donors for wine and salmon at the Mandarin Oriental in London.
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