There are still attractive value stocks in today's market, according to Bill Nygren.
There are opportunities to pick up value stocks in today's market, though it isn't cheap overall, according to Bill Nygren, a portfolio manager at Oakmark Funds. Still, the spread of price-to-earnings multiples today is about 40% wider than it used to be, he said. "There are lots of expensive stocks and lots of very cheap stocks," he said on CNBC's "Closing Bell" on Tuesday. His fund is always looking for undervalued names that are out of favor, he added.
He also likes a slew of media names including Charter Communications , Disney , Netflix and Warner Brothers Discovery. Charter is a top name on the list because it is a large cable provider including internet, which is an important business segment, Nygren said. Eventually, he thinks investors will look at the company as an infrastructure play and worry less about cord-cutting in cable. "The more people stream, the faster internet service they need," he said.
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