Value investor Greenblatt says he doesn't see market froth in 'FAANG' names

Joel Greenblatt, value investor and Gotham Funds co-chief investment officer.
Scott Mlyn | CNBC

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Value investor Joel Greenblatt believes that while parts of the stock market may be overbought, the "froth" isn't among the Big-Tech names that have carried the major indexes higher.

Greenblatt, a co-chief investment officer at Gotham Funds, told CNBC's "Squawk Box" that while he understands why popular names like Amazon and Facebook give investors pause, he doesn't view those stocks as too problematic.