Half Full, or Half Empty?

Despite access to the same data, market observers often develop very different views of the financial markets and how investors should respond. On the one hand, Jeremy Grantham of GMO believes that the current "terrifying situation" in the eurozone warrants being "more cautious than usual."  

On the other hand, the economists at First Trust Advisors believe that stocks are "dirt cheap" and that investors will pay more when the fear disappears. Click here for Grantham's quarterly letter and here for First Trust's recent outlook.