лох ?

[veronique-cheri.livejournal.com]

I was hanging with some Russians and a non-Russian and the non-Russian mentioned a Russian curse word he was taught by a friend (the only word he knows in russian haha). He said it was spelled upside down V, o and x. Which in Russian would be: лох. I'm pretty sure that's it at least. No one understood what he meant by the English letters, so I flipped them around to Russian to be that word and when I said it, the Russian boys said it meant something, like an idiot. What exactly does it mean?