John O’Connell on extreme bearishness, compelling stock valuations, and the potential for excellent future returns.

The Chairman, CEO & CIO of Davis Rea Investment counsel believes the stock market is setting up long-term investors for some attractive gains.

But that the S&P 500 may need to go down another 10 per cent or so before the worst is over.

**

Related stories:

Four Ways to Determine Your Risk Tolerance

Investing vs. Speculating