Eric Thorne of Bryn Mawr Trust Wealth Management says stocks haven't vanished from his firm's portfolios, and he has a few recommendations for stock-market investors.
"We've just gone through a period where stocks have underperformed bonds for the last ten years," he told CNBC. "That's extremely rare; we don't expect that to repeat itself, and we still think that equities have a prominent place in client portfolios."
He's careful about dividend plays, and warns investors to look out for yields that only look high: "A lot of times, the 'high yields' are because stocks have fallen so much," he pointed out. "Go beyond the dividend yield; go to what these companies' cash flows look like; see if they have any topline growth."
Thorne says the top line is often more reliable than other figures.
"It's easier to fudge earnings — you can do that a lot of different ways," he said. "It's tough to fudge the top line, and it's tough to fudge the cash flow figures."
So what if any stocks look like good buys to him right now?