“The market, as twitchy as it is, has overreacted to some bad news, and it’s providing a lot of opportunities,” says Barry Rosenstein of JANA.
LAS VEGAS -- Halfway across the country from Omaha, a host of hedge fund managers offered up their best value stock picks at the SALT Conference in Las Vegas.
They all agreed on one theme: There is serious money to be made in U.S. stocks. “Everything’s pretty cheap,” said Joel Greenblatt, founder of Gotham Capital. “The prospects over the next year could be well below average, but that’s well reflected in prices and it’s hard to not come away and think your exposure to equities should be well above average.”
Barry Rosenstein, founder of $3.16 billion JANA Partners, said there