The Importance of Demographics in the Emerging Market

Sally Kohn: You're a value-seeking investor. Let me ask you about the importance of demographics. Say if Japan is famously kind of the almost about to happen thing and some very fine Japanese companies are selling at some very attractive multiples, indeed multiples perhaps on a par with some of the ones you are familiar with in the emerging world. What would you look at Japan? I would. She says it could lead to an interesting mispricing in the market but there are plenty of places that don't have a demographic dividend as well.