Jones Villalta Loves the Loathed of Wall Street

Another one of your contrarian plays is Intel(INTC). Why do you like the chipmaker, which like the rest of technology has been under pressure?

Villalta: We get over a 3% dividend on this stock just to hold it, and it's one of the most profitable companies in America. They had their best earnings in the history of the company last quarter and we think there is a lot of room for growth. We like the innovation coming out of Intel on many different fronts. While the recently announced McAfee(MFE) deal was initially viewed as a negative, we see it as the company is looking outside the box to change its dynamics and move forward.

Staying in tech, why do you like EMC(EMC) as opposed to the other storage players?

Villalta: We really like the company a lot for a number of different reasons. First, you are getting a company that has about $3 a share in cash in addition to a huge stake in VMware(VMW), which is a big participant in the whole cloud computing movement. Also, their purchase of Data Domain proved smart even though a lot of people at the time thought it was a bit richly priced. And given the plethora of information that we have out there right now, I think this is a company that's going to benefit over the long term.

-- Written by Gregg Greenberg in New York.

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