Cheap Enough? Italy & Spain Stock Book Value Lower Than 1 While S&P 500 Above 2
Back in March 2009, when the US financial system was imploding, one of market oddities was that European financial risk was far more muted than that of its American counterparts, with European stock markets trading, on a relative basis, far better than the epic collapse that the S&P had just experienced having plunged by over 50% in months. It wa...
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