Well-known value investor Robert Olstein was on CNBC to discuss his outlook for the stock market and thinks that the stock market will move much higher over the next 12 to 18 months.
-- Stocks are still very cheap with cash flow yields being still at 10%
-- We are not in a depression; our economy is moving up but at a very slow pace.
-- The stock market is behaving as if it is a depression (not today, though) with cash flow yields of 10% from some of the best companies.
-- Market is about 15% undervalued.
-- His picks - CSCO, MSFT, INTC.
Credit and source: www.cnbc.com, CNBC
Here is the video: