Chip Rewey, portfolio manager of Third Avenue's flagship Value Fund and Small-Cap Fund, laid out three stock ideas that he said Warren Buffett (Trades, Portfolio) should be interested in, while speaking at GuruFocus' Value Conference Friday.
The first is Comerica (NYSE:CMA), a bank headquartered in Texas and currently trading at 18x earnings. Rewey said Comerica has strong credit worthiness, one of the most important attributes for any bank. Comerica had an outstanding underwriting record, even during the financial crisis of 2007 and 2008. Investor fears of the volatility of the energy book has pushed the price down, creating more opportunity to invest. The bank traded down slightly over the past year by 5%. Continue Reading »