Trawling for Dirt-Cheap Large-Caps

A couple of years ago, a few of us gathered in Manhattan for a spirited round of cocktails and conversation. In addition to basics -- such as the inherently evil nature of the Boston Red Sox -- one of the major discussions centered on a search for the cheapest large-cap stocks in the world, based on price to tangible book value. With the help of a laptop and a bartender who was generous with the Wi-Fi password, we found that large banks in Europe and Japan were the cheapest stocks in the world, with Mitsubishi UFJ (MTU) taking ultimate honors as the very cheapest.

That conversation centered around stocks like Royal Bank of Scotland, Japanese bank Mizhou Financial (MFG), Bank of Ireland (IRE) and Dutch insurer Aegon (AEG). A few folks at the table bought some of these stocks. I was lucky enough that my inner cheapness won the day, and I bought them all. Since then, they have all risen somewhere between 50% and 100%....623 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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