“During the week ending October 23, investors plowed $5 billion into European equity funds, the biggest weekly inflow ever. These funds have seen nothing but inflows for the past 17 weeks.”
October 16, 2013:
European cyclically adjusted P/E (Shiller P/E) is still 30 % below its long term average. US market is at or slightly above its long term average.
This is the argument for buying European equities right now (over US ones). And US buyers have started to return. It all comes down to one assumption, that the problems in Europe are actually solved.