Investors are concerned about a range of issues, from Europe's burdensome debt to stricter US regulations. As a result, inexpensive stocks are now even cheaper. Expensive stocks are getting more dangerous.

Bonds, gold and the dollar have risen in 2010 as investors dumped stocks. The Bank of America Merrill Lynch Global Broad Market Index of bonds climbed 4.2 percent in the first half of the year, while the precious metal increased 13 percent to a record.

Meanwhile, the dollar jumped 10 percent against a basket of currencies including the euro, yen and British pound after falling in the same period in 2009.

Here are 10 US stocks that trade at massive discounts to the broader equity market and their peer groups. They sell for price-to-projected-earnings ratios of less than 6. By comparison, the S&P 500 sells for 11 times estimated 2011 earnings.

The benchmark index trades at a PEG ratio, or a price-to-earnings-to-growth ratio, of 0.8. Many investors consider 1 to be a fair value.

The stocks are ordered from cheap to cheapest.

10. Everest Re Group

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[RE  Loading...      ()   ] is a property and casualty insurer and reinsurer in the U.S.

Everest Re swung to a first-quarter loss of $23 million, or 38 cents a share, from a profit of $109 million, or $1.76, a year earlier. Its revenue jumped 28 percent. The stock pays a dividend yield of 2.7 percent with a safe payout ratio of 17 percent. It sells for a price-to-projected-earnings ratio of 5.9, a 47 percent discount to its peer average.

9. Deutsche Bank

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[DB  Loading...      ()   ] is a Germany-based global investment bank, offering capital-raising, trading and asset-management services. Its stock has dropped 27 percent a year since 2007, underperforming US. indices. First-quarter profit surged 52 percent and earnings per share increased 41 percent, though revenue declined marginally. The stock trades at a price-to-projected-earnings ratio of 5.9 and a price-to-cash-flow ratio of 1.4, 50 percent and 91 percent discounts to peer averages.

8. Mitsui & Co.

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[MITSY  Loading...      ()   ] is a trading company, importing, exporting and selling goods on behalf of its clients. During the past three years, it has grown revenue 1.9 percent annually, on average. Mitsui swung to a fiscal fourth-quarter profit of $604 million, or $6.71, from a loss of $1.3 billion, or $14.13, a year earlier. Its stock sells for a price-to-projected-earnings ratio of 5.5, a 70 percent discount to the industry average.