There are still a lot of stocks that trade at “very low” valuations and have lagged the market badly, said 5-star manager Brian Barish, president and director of research at Cambiar Investors.
“We had a wicked 'January effect' in the first quarter—the impact of the financial crisis, even though the market is up a tremendous amount from its lows, is still with us,” Barish told CNBC.
But despite the "January Effect," Barish’s Cambiar Aggressive Value fund (CAMAX) saw a 19 percent return over the first quarter—its best quarter in more than a decade.
“Our best position in the first quarter was Alcatel-Lucent and we’ve sold that—it was up almost 100 percent in the quarter,” he explained. “We’re [now] looking for some laggards that are compressed.”
Barish’s top picks include Target and Motorola Mobility .
CAMAX’s Top Holdings:
Repsol YPF SA
Scorecard—What He Said:
- Barish's Previous Appearance on CNBC (Feb. 8, 2011)
More Market Intelligence:
- Small Investors Avoid Stocks, So What Are They Buying?
- 'Buy the Dips'—Recovery Will Continue: Strategist
- Markets Will End Year Higher: Stock Picker
CNBC Data Pages:
Neither Barish nor his family personally own shares of TGT, MMI, FST, S or SKM.