The cheapest stock markets and sectors – October 2021

11 min Read Published: 30 Sep 2021

It's been almost two years since I last looked at which global stock markets offer good value based on historical data. Since then we've endured the fastest bear market on record, as a result of the COVID-19 pandemic, followed by the fastest bull markets in history and now many stock markets sit near all-time or multi-year highs. So how have these moves affected stock market 'value' around the globe? In this article, I answer that question before going on to determine the value of individual equity sectors. But first, let me recap on what value investing is.

What is 'value investing'

A value investor buys shares in companies that he/she believes are undervalued by the market on the assumption that when reality catches up with the company fundamentals the share price will be revalued and they will make a profit.

Finding value involves scrutinising company balance sheets and accounts looking for the value that others can’t see, the earning potential that your peers are overlooking.

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