The Venn Diagram of Demographics and Urbanization

Henry French: Demographics are just one point that I think many people make. Emerging markets have had a wipeout in terms of valuation, public equity markets. But even in local currency terms, the valuations for businesses have compressed over the last 10, 15 years. He says there's an opportunity that's kind of the Venn diagram of demographics of valuation and urbanization that I think is quite compelling.