Cheap stocks in the long run tend to outperform, but there's value and there's value. John Authers looks at two different kinds of value - the "patient" and the "brave" - and finds the sectors and countries where most value is to be found.

Cheap stocks in the long run tend to outperform, but there's value and there's value. John Authers looks at two different kinds of value - the "patient" and the "brave" - and finds the sectors and countries where most value is to be found.

The post above is drafted by the collaboration of the Hedge Fund Alpha Team.