Pick Stocks Like Warren Buffett: 'Stupid Cheap'

Art Hogan, managing director at Jefferies, advises investors to look at stocks that are "ridiculously cheap."

• Cramer: The Dow's Worst Stock
• Poll: Palin vs Biden - Who Won Debate?

“Look at the fact that Warren Buffett’s been able to put $30 billion to work in the last two weeks, because he sees things as being valuable here," says Hogan. "You have to be very patient, you have to pick those names that have gotten thrown out like the baby with the bath water.”

Hogan says examples of this are Google , Apple and Research in Motion .

“If those are the ones you’re afraid that you missed, now is the time to start taking on 20 percent positions and working into some of these names," he added. "I think energy’s going to be the same way, and I think there’s a lot of technology names that will fall into that stupid cheap category.”

Disclosures:

Disclosure information was not available for Hogan or his company.

Disclaimer