Big Mac Index

My all-time favorite feature of The Economist? The Big Mac Index.

As always, this year's edition compares the average price of a Big Mac in the U.S. with what you would pay, translated into U.S. dollars, in other countries.

A sampling:

Hong Kong: $1.54
Russia: $2.03
Czech Republic: $2.51
United States: $3.41
Switzerland: $5.20
Iceland: $7.21

Are the currencies of the first three countries undervalued?

Are the Swiss Franc and the Icelandic Kronur riding for a fall?

Time may tell.

Meanwhile, the Big Mac Index gives wealth managers a fun way to suggest the prudence of globally diversified portfolios.