According to the CAPE (Cyclically Adjusted Price-to-Earnings) ratio, the US stock market, including the most expensive stock market in the world, the first is Ireland followed by Denmark, USA, Switzerland and Japan.
The CAPE is notable for as an indicator or prediction possibility of bearish market/crashes.
Here are the list:
1. Ireland - 39.8
2. Denmark - 36.5
3. USA - 30.0
4. Switzerland - 29.41
5. Japan - 29.18
6. Netherlands - 28.8
7. Belgium - 24
8. India - 24.56
9. China - 24.56
10. South Africa - 24
11. Mexico - 24
12. Belgium - 24
13. Canada - 23.91
14. France - 23.6
15. Taiwan - 23.29
16. Philippines - 23
17. Germany - 22.68
18. Sweden - 22.6
19. Europe - 22.3
20. Australia - 21.44
21. Thailand - 21.2
22. Hong Kong - 20.79
23. Indonesia - 20.5
24. Finland - 20
25. Italy - 19.26
26. United Kingdom - 18.63
27. Malaysia - 16.7
28. Spain - 16.3
29. South Korea - 16
30. Brazil - 15.31
31. Poland - 14.23
32. Israel - 13.88
33. Singapore - 16.88
34. Turkey - 12.57
35. Russia - 7.23
Cheap doesn't automatically mean Buy
A low CAPE score does not necessarily make a bargain. The US market is one of the world's most expensive, partly because its attributes – such as transparency and a large number of fast-growing technology firms – are highly desirable to many investors.
Conversely, there is often a reason for markets such as Russia being priced so cheaply: risk.
Source: Star Capital and Barclays Bank
