Many Assets Are Pricey, but Shares in Countries, Including Russia and Japan, Are Worth a Look

Value-minded investors like to hunt in the bargain bins of financial markets for unpopular investments offering potentially big rewards.

But these days, they are scratching their heads. Despite the tremors which have hit major stock markets in the past few weeks, most of them remain at or near historic highs. Meanwhile U.S. bonds, from Treasurys...