The panic-driven selloff has led to the buying opportunity of a lifetime.
FORTUNE -- Never underestimate the impulse for Wall Street market strategists and pundits to spin an outbreak of sudden fear into a durable trend, with a sensible-sounding narrative to back it up. So it is today with the sharp selloff in emerging market stocks and bonds. For champions of U.S. equities, indeed, the panic overseas seems a timely gift. MORE