I was actually:
Sadly nobody guessed it right!
I spent this time turtling and building up my economy, settlements and recruiting some heavy units. Stupid dwarves lost Iron Hills and I had to start beating back Rhun and take Iron Hills back for them. In a few turns I was broke and since Rhun kept sending mostly medium-sized armies at us and kept me busy, I had to open another front in the south taking Khamboshka which I had kept as a buffer and Rhun's westernmost settlement. Now about 20 turns later I'm besieging Szaunik which the dwarves had lost and I'm trying to hold the southern front, which opened up the passage for heavy khandish troops. I've started making some money again which is some good news for a while. I hope that my larger northern army will be able to meet up with my southern army eventually.