Dreman: Worst Panic ... But Major Value
David Dreman, Chairman and Chief Investment Officer at Dreman Value Management, says we’re in one of the worst panics we’ve ever been in but there are major values around.
“There are some major values around,” said Dreman. “If you hold them without any margin, I think you’re going to see double and triples, 2 to 3 years down the road.”
ConocoPhillips —“Conoco Phillips is trading around 4 and a half, 5 times earnings. I don’t think we have seen this since the late forties.”
BHP — “We like BHP. It was 95 maybe four months ago, and we bought some this morning at 32 or 33. I think BHP is an outstanding buy in any case.”
Apple —"We’re looking at technology but we haven’t bought yet. Apple is one we’re looking at. It’s coming down very rapidly. And I think there are strong fundamentals on that one."
See his full comments in the video.
Disclosure information on Dreman's stock holdings was not available.