"Japan's Nikkei 225 Index is the worst-performing index this year among the world's 40 largest stock markets; however, Japan may now be the world's cheapest stock market. ," notes Dr. Steve Sjuggerud.

The editor of Daily Wealth adds, "Indeed, I consider it a low-risk speculation with significant upside potential."

The strength in the yen -- which recently hit a 15-year high -- has made stocks in Japan ridiculously cheap. With the exception of the late 2008/early 2009 stock market bust, Japanese stocks are cheaper than they've ever been on a price-to-book basis, going back decades.

"Since 2001, I've avoided big-name stocks because I thought they were too expensive. But now, for the first time in my career, I'm finding value in some big U.S. stocks... particularly in one sector: pharmaceuticals," says Dr. Steve Sjuggerud.

The editor of Daily Wealth explains, "Big drug companies are record cheap, investors have given up on them, and we might be seeing a glimmer of an uptrend. Below, we consider the case of Johnson & Johnson (JNJ).

"The share price is in the $50s today, like it was at its highs in 1999. But since then, the business has grown dramatically. Now, you get a whole lot more business for your investment buck.

"I know the promise of 17% interest – safely – is ridiculous. You should be skeptical when you see interest rates that high," cautions Steve Sjuggerud, an advisor know for his value-oriented and contrarian investment positions.

The editor of Daily Wealth explains, "But I assure you, what I'll share with you today is real and very safe ... all thanks to government foolishness. Below, we review Hatteras Financial (HTS). The company has a simple business. It only invests in these 100% government-guaranteed mortgage packages.

"The U.S. government backstopping the majority of American home mortgages. The government guarantees bankers and investors won't be at risk. It does this by buying mortgages from banks. It's a dumb deal for the government, but a brilliant deal for the banks and investors. And it means we can collect 17% interest, safely.

"Annaly Capital (NYSE: NLY) is in the sweet spot," says Steve Sjuggerud in Daily Wealth. He says, "It borrows money at a low interest rate and invests it at a higher rate -- and earns the 'spread'."

"The cost of money is historically low, and it's headed lower. Meanwhile, relative to the cost of money, the return on money is higher than it's ever been.

"The ultimate way trade on this historic discrepancy, for high-returns with very low risk, is through shares of companies like Annaly, which is now s now paying a 16% dividend.

"In the latest-reported quarter, the company borrowed money at 3.5%. (The credit markets have calmed down a bit, so its cost of borrowing should be even lower next quarter.)

"It invests the money in government-guaranteed bonds. You remember how the Treasury bailed out Fannie Mae and Freddie Mac? It wiped out shareholders. But it explicitly guaranteed the bonds.

"In the latest-reported quarter, Annaly earned 5.6% interest on these risk-free bonds. Therefore, it earned a 2.1% spread. If the company uses seven times leverage, a 2.1% spread means a 14.7% return on its money.

"Analysts estimate the company will earn $2.50 per share next year. It pays out essentially all of its earnings in dividends. So that'll be a dividend yield of about 19%. This is ridiculous. An opportunity like this only appears during market turmoil like we're experiencing now.

"This is a historic moment. The difference between the cost of money and the return on money relative to that cost is at the most extreme levels I've seen in my career. Take advantage, and buy stocks like Annaly today."

Steven Halpern's TheStockAdvisors.com offers a daily look at the latest market commentary and favorite stock picks and investment ideas from the nation's leading financial newsletter advisors.