"It's relatively undervalued when compared to French or American prices."

Instead investors have flocked to the relatively undervalued cyclical stocks, which have rallied as the economy has shown much more strength than expected.

"We heard Ossining was relatively undervalued for Westchester," said Mr. Steadman, who commutes by motorcycle.

We like Diageo, which is up more than 20 percent this year but is still relatively undervalued.

British modern art remains relatively undervalued, but the Royal Academy's winter exhibition aims to set the record straight.

John Legat, the London-based fund manager, says British stocks "have underperformed for some time now and those stocks look relatively undervalued."

Mr. Preston starts with a top-down approach, searching for markets that are relatively undervalued.

To field a competitive roster on a limited budget, Alderson began focusing on sabermetric principles, in order to obtain relatively undervalued players.

As a result, Alderson began focusing on sabermetric principles toward obtaining relatively undervalued players.

In the meantime, Goldman, Sachs said, European stock markets are still relatively undervalued and should be helped by an earnings recovery.