Canadian investors have pushed the panic button too. An estimated $4.5 billion was pulled from Canadian mutual funds in September -- a massive outflow that sweeps far beyond the previous redemptions peak of $1.7 billion in April, 2003.

Legg Mason’s David Nelson believes the U.S. stock market bottomed on July 15, just before U.S. financial stocks blasted upward by 30% in a little over a week. “We believe there is a reasonable argument to be made that July 15 marked an important low point ….” he wrote in ...

“Stocks are huge bargains, relative to all other asset classes …. U.S. stocks now trade at 13x forward earnings for an almost 8% earnings yield, while 10-year treasuries yield just 4%, making equities the best bargain in more than 60 years,” write Trapeze Asset Management in their latest investment letter. ...