Every month, I calculate the US equity markets valuation. There is little data on Europe, but someone sent me a Morgan Stanley Document with a slew of data on European market valuations. Ignoring all the noise about the ECB, Germany, Merkel, which Government will fall next, haircuts, insurance policy, etc., almost all the quantitative indicators indicate a very cheap European market. The numbers are as of November 28, 2011. I am going to do some comps to US market valuation on that date. The numbers in the chart below are based on Morgan Stanley numbers for MSCI/Europe, and my own calculations. I also broke up the numbers for the UK, Germany and France. Overall it seems the market valuations are far cheaper in than the US.
All figures are approximate, especially since they are being updated during market hours. I will be posting a full article on US market valuations later today.
My investment ideas have been inspired by many of value investors including Benjamin Graham, Charles Royce, John Neff, Joel Greenblatt, Peter Lynch, Seth Klarman,Martin Whitman and Bruce Greenwald. .I live with my wife and daughter in Monsey, NY. I can be contacted jacobwolinsky(AT)gmail.com and my blog is www.valuewalk.com
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