Capital Investment

The number one factor by far is financing market and how well it's functioning. I think given the amount of liquidity that corporates and private equity both have, I think that liquidity will serve to oil the M&A market. Then we will see valuations start to settle down and we will see maybe a recovery in the amount of activity that surprises in terms of how strongly it comes back. But when you look again at the underlying drivers, financing is going to come back. It's a question of when,. Because the world needs investment and to make those investments, the capital has to be provided to where the opportunity sits.