Where Do You See Investing Opportunities Abroad?

We think that in an environment where the availability, access to capital and liquidity has become a little more scarce, having a high quality company is certainly a better place to be. We like developed international in general, Japan in particular, as a market where it's trading roughly in the 30th percentile of its historical range from a valuation perspective. And interestingly, the currencies, particularly the yen and the euro, are relatively cheap compared to the dollar if you look at it on a purchasing power parity basis - kind of like the modified Big Mac index, if you will.