Top value investor Pzena reveals best idea

Rich Pzena, founder & Co-CIO Pzena Investment Management.
Adam Jeffery | CNBC
Rich Pzena, founder & Co-CIO Pzena Investment Management.

Widely followed value manager Rich Pzena joined CNBC "Halftime Report" on Monday to reveal his best new investment idea for 2016.

Pzena, whose firm manages $24 billion, also shared his viewpoints on the beaten-down energy and financial sectors, FANG stocks and whether value strategies will continue to outperform this year.

"After five years of underperformance of value versus growth, the spreads in valuations are at provocative levels," said Pzena, explaining that in the past, investors who captured that spread were "well-rewarded."

You can watch the full insightful interview led by Scott Wapner, along with the rest of the traders, but you must be a CNBC Pro subscriber.

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