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Source: The Telegraph
Nice graphic from The Telegraph, showing relative valuations around the world, using P/E ratios, CAPE, and Price to Book.
To be named “cheap”, markets had to be trading below their own historic valuation across all three measures. As the map to the left shows, only a handful of stock markets managed to achieve this feat – Greece, China, Hong Kong, India, Japan, Russia and Turkey.
Some stock markets will be cheap because the countries are in the midst of economic turmoil – this certainly rings true for Greece and Turkey, which both have fragile economies. Highly indebted Greece, in particular, has been trying to get its house in order.”
Very nicely done.
Revealed: The world’s cheapest stock markets
The Telegraph, 07 Jun 2014
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