T. Rowe Price's David Giroux says the recent market volatility has punished some promising stocks unfairly.
Giroux's five-star Capital Appreciation Fund has earned an average of 13 percent per year over the last five years.
"We see tremendous value, and not a lot of downside," he told CNBC. "I can't tell you if [they're] going to turn today, or tomorrow, or six months from today, but I think there's a lot of value for an investor who has a longer-term time horizon."
He likes Danaher, which he describes as a "relatively low-cyclical industrial...a great business, great company, great management, growing its earnings pretty consistently at a 15 percent annual pace."
Another pick is White Mountains Insurance.
"It...trades about 1.1 times book value, no subprime, no RMBS, no leveraged loans, just a very high-quality insurance company," he said.
Giroux also sees some opportunities in the badly-beaten financial sector.
Tyco Electronics, a spin-off from Tyco, tops his tech list.
"They've been beating numbers the last two quarters, taking up guidance, they're buying back about 10 percent of their company this year," he said.
A much bigger company that's also buying back its stock is Dell.
"Even if the environment's a little bit more difficult in '08 than it was in '07, they're going into a lot more retail locations, which should be a buffer for their sales growth in '08," he said.