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Four-Star Fund Manager Finds Values Amid Sell-Off

While many investors hide during times of volatility in the market, one top fund manager uses the sell-off to look for bargains.

Bill Nygren, portfolio manager of the Oakmark Fund and one of Morningstar's ultimate stock pickers, believes stocks are more attractive than bonds despite the recent decline and is looking for value.

"We see value in basically the same place we saw value on Thursday before we saw the vote. We think bonds are expensive, relative to stocks," said Nygren.

On today's Halftime Report, Nygren spoke on the many opportunities available and the stocks investors should pay attention to.

So what's on Oakmark's buy list?

Alphabet is the company's largest holding and extremely attractive.

Nygren says Alphabet is also a cheap stock. "I think you can get to half the price you're paying in Alphabet just in current non-earning assets," said Nygren.

The top manager is also taking a very contrarian view and recommending U.S. banks.

"We think almost all the banks are cheap. I think lost in the Brexit news is how well the banks did on the stress test. They've all got a lot of excess capital" Nygren says.

Citigroup is down 26% today, but is one of Oakmark's favorite.

JP Morgan is down 14% and Bank of America is down 27%, year to date.