  We describe the correlated electronic structure of a prototype Fe-pnictide
superconductor, $SmO_{1-x}F_{x}FeAs$, using LDA+DMFT. Strong, multi-orbital
electronic correlations generate a low-energy pseudogap in the undistorted
phase, giving a bad, incoherent metal in qualitative agreement with
observations. Very good semi-quantitative agreement with the experimental
spectral functions is seen, and interpreted, within a correlated, multi-orbital
picture. Our results show that Fe-pnictides should be understood as low-carrier
density, incoherent metals, in resemblance to the underdoped cuprate
superconductors.
