In multiple ways, 2024 has been a good year so far when it comes to the flagship FTSE 100 index of leading companies.
The FTSE hit a new all-time high and is 7% higher than it was at the start of the year. It is 16% higher now than it was five years ago.
Despite that, I think some FTSE100 shares still look cheap.
So should I pile in now while I still can? Or might there be a danger lurking in the fact that some shares continue to look tastily valued?
The bull case
As an example, consider Standard Chartered (LSE: STAN).
Over the past year, the share price has barely moved. It us up less than 1%. Over five years, it has outperformed the FTSE 100 overall and moved up 21%.
Still, it looks cheap.
Not only is the Standard Chartered share price now less than half what it was in 2010, the price-to-earnings ratio is under 9.
Standard Chartered is a large multinational bank with a big customer base, strength in developing…
