Updated Global CAPE Shows US Expensive, Greece Incredibly Cheap

Even before the Greek stock market started tanking this week (it’s down another 7.35% today), it was one of the cheapest markets on the planet by nearly every fundamental measure, according to StarCapital’s global stock valuations (/H/T Meb Faber) updated at the end of November. Hungary was slightly cheaper by price-to-sales, but Greece had a lower CAPE, PE, PB, and price-to-cash flow than any other country or region (the ratings don’t include frontier markets). The US had the second highest CAPE at 27.9, with only Denmark being even more expensive with a CAPE of 31.6. It’s striking that Europe generally…