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How cheap are the world's stock markets?

Which is the best measure for finding cheap markets? We explain the pros and cons of each, and look at the latest readings for major markets.
Wednesday, June 14, 2017 - 05:50

V ALUATION is key to making investment decisions. Invest when markets are expensive and future returns are likely to be poor over the medium to long term. Buy when markets are cheap and the odds are stacked much more in your favour.

But a word of warning - valuations are useless at

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