Larry Fink

And the best way of investing is in a broad index in your country.

And I think one of the foundational problems of Europe

has been the underinvestment, the lack of capital markets in Europe.

When you think about the success in the last 24 months in Japan, it started when the then Prime Minister Kishida doubled the size of the NISA account, which is the Self-Directed Retirement Account.

I heard Christine Lagarde talk about Europe needs a capital markets, a unified capital markets.

I think that's an important message for Europe.

I think President Trump's prompting Europe to take more responsibility in defense and NATO.

All these things are really wonderful.

I actually am bullish on Europe because I'm starting to see Europe doing these long-term things to build vitality for the future.

There has been no, there has never been a formal conversation or a conversation at the board level or at the governance committee about any movement of Davos.

There has been a broad conversation.

How can we bring the vitality of the World Economic Forum in Davos to other locations?

I will be in Istanbul with the World Economic Forum this spring.

In Istanbul, there is a spring conference

World Economic Forum now in Jeddah in April.

And so we need to have this foundation of conversation, not just here in Switzerland, but we need to have it in other locations.

And to me, that is going to be the essence of having these things, having more deliberate conversations.

And it doesn't have to always be in Switzerland.

But Davos is Davos.

It is a great town.