While some investors were still standing on the sidelines, watching the markets rally, Alan Lancz was busy buying, with a one-word explanation: Valuation.
"Not to say it's a bottom, no one knows, but I just think at those levels, you're getting an attractive yield," the editor of the Lancz Letter told CNBC. "You're getting valuations you haven't seen in years, and this is the upper echelon, the cream of the crop."
But this is not a long-term strategy: "I'm not saying we're going to hold them forever. ...At the end of last month we had a good rally, and if we have a rally into next week, I think it's a situation where you can take some money off the table."
So what names is he talking about? Two meta-categories: Financials/insurers and tech/energy.
(Click for his financial/insurer picks, Part One)
Lancz has been buying General Electric, Apple, MicrosoftAT&T and Exxon Mobil.