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Legg Mason's Bill Miller: These 5 Stocks Are 'Great Values'

There’s a lot of value in the overall markets right now, said Bill Miller, chairman, chief investment officer and portfolio manager at Legg Mason Capital Management. He shared his market strategy and stock picks with investors.

“We have a recovery that’s just beginning,” Miller told CNBC.

“The financial crisis is mostly over, but the recovery is just underway.”

According to data, Miller said he expects a much stronger recovery in 2010 than consensus estimates indicate.

“The second half of 2010—when the stimulus begins to wind down and when the inventory rebuild begins to slow—there’s a question there, but the current outlook is very positive,” he said.

Miller said investors don’t have to dig too deeply to find "great values." He suggested the following companies.

Miller's Recommendations:

IBM

JPMorgan Chase

Bank of America

General Electric*

Amazon.com

Regional Banks (Top 10 Regionals: Live Quotes Here)

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Disclosures:

Miller’s fund owns JPMorgan & Bank of America shares.

*General Electric is the parent company of CNBC.

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