“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. In red are the countries that scored badly on all three metrics. America, Sri Lanka, Pakistan and Indonesia are all trading on valuations that are higher than their historic averages across each of the measures. Investors are buying high. The main reason for the lofty valuations is that these stock markets have performed well in recent years. This pulled in other investors and has left these markets substantially overpriced.”
Related posts:
The Rise of Airbnb's Full-Time Landlords
Germany prepares to charge UK and US intelligence over fresh bugging allegations
Bank of Cyprus head fired under bailout deal
Torture of prisoners persists in Afghanistan: UN
Jerry Seinfeld's lemonade stand gets shut down by police
French officials abuse visa-free travel to spy on tax dodgers in Switzerland
The Italian Patient: Resisting Berlusconi's Charms
Rights groups challenge widespread Internet spying in France
IRS targets First Caribbean International Bank thanks to 'voluntary disclosure' program
China shuts down $88 million mocked museum with ‘fake’ national treasures
Bitcoin among virtual currencies targeted in US crackdown on tax evasion
Credit Card Data Breach at Barnes & Noble Stores
U.S. tax law has some expatriates waiving the American flag
Student changes name by deed poll to avoid £220 Ryanair admin fee
Gold rush 2013 style has Dubai scrambling