Is there any value left in the world’s equity markets? That depends on your definition of “value.”
A review of market fundamentals and performance for 2006 certainly paints an encouraging profile (based on data for S&P/Citigroup Global Equity Indices). As our first table below shows, it was hard to lose money last year by owning stocks. European emerging markets were the hottest region, posting a total return of nearly 47%. Worldwide, stocks rose a tidy 21%.
