Vitaliy Katsenelson talks us eBay, Philip Morris and Supervalu

One of my favorite authors Vitaliy Katsenelson talked up eBay (EBAY), Philip Morris International Inc. (PM) and SUPERVALU INC. (SVU) on Yahoo!'s Tech Ticker yesterday.

Here is the video:

The sayings "it's a stock-picker's market" and "it's a market of stocks, not a stock market" will prove much more than clichés if the stock market is in the middle of a prolonged range-bound period that could last another several years, as Vitaliy Katsenelson, a portfolio manager at Investment Management Associates, contends.

Indeed, the author of Active Value Investing says investors should avoid index funds, which he believes will go sideways at best. But that doesn't mean there aren't opportunities in the stock market.

As detailed in the accompanying video, Katsenelson is long and recommends the following stocks:

eBay: Based on a view the company's non-auction business - notably Skype and PayPal - are worth $9 per share and the core auction business is doing as badly as the last quarter indicates.

Philip Morris International: Cigarettes are still a growth business overseas and Philip Morris' strong international brand image makes it a good hedge
against a weak dollar.

Supervalu: The company has a lot of debt it needs to refinance, but if Macy's could refi, Supervalu should be able to as well. Plus, groceries are recession resistant and the stock is cheap relative to its main competitors.

SOURCE: http://finance.yahoo.com/tech-ticker/article/172945/Active-Value-Investing-The-Bull-Case-for-EBAY-Philip-Morris-and-Supervalu?tickers=EBAY,AMZN,SVU,PM,SWY,KR,M