Friday, June 18

Oakmark’s Bill Nygren sees ‘a lot of value in the market,’ including in this casino stock

The marquee and sign at an entrance at MGM Grand Hotel & Casino display messages after the Las Vegas Strip resort was closed as the coronavirus continues to spread across the United States on March 17, 2020 in Las Vegas, Nevada.

Ethan Miller | Getty Images

(This story is for CNBC Pro subscribers only). 

Value investor Bill Nygren told CNBC on Wednesday that he saw opportunities in the market even as the S&P 500 continues to set new record highs.

Nygren said on “Squawk on the Street” that there was “a lot of value in the market today” even as parts of the market remind him of the tech bubble two decades ago.

“The P/E spread has gotten enormous between the highest priced stocks and the lowest price, reminiscent of where things were in ’99,” Nygren said. 

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