Despite the revulsion that Asif Zardari invokes among his detractors, even his most bitter critics are often forced to acknowledge with admiration, if also intense frustration, how Pakistan’s unlikely president has for all intents and purposes outsmarted all his opponents and ridden out all the storms to take the PPP-led coalition to almost the finish line of its five year term, a first in that country’s history. Zardari’s success in managing to keep his party in office against all odds and opponents and in the face of a terrible record of governance is what prompted one opposition stalwart to say that a PhD was required to understand Zardari’s politics. But recent events, and in fact a reappraisal of past events, suggests that the secret of Zardari’s success might be so mundane that one does not need a doctorate to understand it. The only reason why no one has so far put a finger on it is because in a socio-political environment flush with bizarre and over-the-top conspiracy theories, simple and straightforward explanations are difficult to imagine, much less accept.