Over the course of the decade, Vargas Llosa became known as a "neoliberal", although he personally dislikes the term and considers it "pure nonsense" and only used for derision. In 1987, he helped form and soon became a leader of the Movimiento Libertad. The following year his party entered a coalition with the parties of Peru's two principal conservative politicians at the time, ex-president Fernando Belaúnde Terry (of the Popular Action party) and Luis Bedoya Reyes (of the "Partido Popular Cristiano"), to form the tripartite center-right coalition known as "Frente Democrático" (FREDEMO). He ran for the presidency of Peru in 1990 as the candidate of the FREDEMO coalition. He proposed a drastic economic austerity program that frightened most of the country's poor; this program emphasized the need for privatization, a market economy, free trade, and most importantly, the dissemination of private property. Although he won the first round with 34% of the vote, Vargas Llosa was defeated by a then-unknown agricultural engineer, Alberto Fujimori, in the subsequent run-off. Vargas Llosa included an account of his run for the presidency in the memoir "A Fish in the Water" ("El pez en el agua", 1993). Since his political defeat, he has focused mainly on his writing, with only occasional political involvement.