Stocks are a good value for investors who think the economic hit from the coronavirus is temporary, Oakmark Funds partner Bill Nygren told CNBC on Tuesday.
“We think stocks are really cheap if you believe, as we do, that the economy is going to eventually recover, as will the P/E multiples,” the value investor said on “Fast Money.”
Nygren’s comments Tuesday came after another historic day for stocks, with the Dow Jones Industrial Average rising more than 11% to record its best day in 87 years. It comes during a volatile period for stocks since February highs as Wall Street responds to the economic shock from the coronavirus.
As investors consider which equities to buy, they must make…