Oakmark's Nygren: There are cheap stocks in industrials, consumer non-durables

Bill Nygren of Oakmark joins "Squawk on the Street" to discuss the market as stocks keep pushing higher. Nygren lists several stocks he's watching and says the companies that are very expensive are trying to capitalize on their situation, and says Facebook and Alphabet are mistakenly thrown into the group of high-priced stocks. You get rapid growth there without paying a high P/E.