by Tim Staermose
Sovereign Man
One of the wealthiest countries in the world– the place where there are more millionaires per capita than anywhere else on the planet– now has a dirt cheap stock market.
It’s Singapore.
And right now, the total market value of all stocks traded in Singapore amounts to about 107% of the country’s GDP.
The historical range for this number over the past few decades has as high as 418% during the bubble years in the 1990s, and as low as 92% at the height of the 2008 financial crisis.