In a stock market where little is cheap, longtime value investor Bill Nygren revealed what he's buying.
Nygren is a portfolio manager at Oakmark Funds. His fund has outperformed the S&P 500 over the past 10 years. He was named on Morningstar's ultimate stock picker list.
"It sells at seven times earnings, below book value. It's buying back a lot of the stocks each year. In the meantime, you are getting a 2.5% yield," Nygren said.
Ally Financial rallied nearly 35% in 2019, beating the broad market by about 5 percentage points. It underperformed the market in the new year, however, returning just 0.5%.