Kerr Neilson from Platinum says he's investing in Europe before things really take off. Neilson said he currently sees good investment value in the region. He is not focused on defensives in Europe; in fact the fund has been cutting back on the defensives and instead moving into financials, which he sees as the next sweet spot in the market. We're going after the jugular, we're not looking for defensives in Europe; we want to participate in the improvement. The timid can still buy fairly defensive companies, but we don't think that's where you're going to make any money around the world at all.