Russia is the cheapest market among BRICS
According to an Economic Times report, BRICS economies, now showing signs of a slowdown, have underperformed their developed peers over a period. The report quotes John-Paul Smith, EM Strategist, Deutsche Bank, as saying, “We have been bearish on the BRICS in absolute terms relative to developed markets, especially the US, for about three years now; but the valuations, particularly on asset value or replacement cost measures, are a lot cheaper. Russia is the cheapest market in the world."
He added, "Brazil and China are not that far behind; and India looks quite expensive at 2.5 times book.”
Read the complete report here