From Pragmatic Capitalism:

We’re starting to see a lot of chatter about "value" in European equities. And not just from the usual talking heads. In the last few days, a number of high profile investors have come out with bullish comments on European stocks after their 30%-plus decline.

Yesterday in a MarketWatch piece, London based value investor Crispin Odey said European equities were "mouth-wateringly attractive" (Via MarketWatch):

"It may be confusing to find someone who believes that a crisis is on its way but is also happy to buy equities ahead of the crisis,"he writes in his latest bulletin to investors. "My reason is that the worries have been there for so long, the causes are so obvious and the valuations are so cheap that this is a case of buying early. For me, the crisis will bring resolution and with it higher prices… Equities yield 5%-6% and many are on earnings yields of 20%-33%. They are mouth-wateringly attractive."

In yesterday's note, David Rosenberg added some perspective...

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