BOSTON ( TheStreet) -- Investors initially cheered the news of a debt deal Monday after six consecutive losing sessions that lopped 4% off of the S&P 500, but many were quick to sell into the market lift.
Some value investors, on the other hand, continue to look for attractive long-term opportunities in any exaggerated moves to the downside for quality companies that may result from increased investor uncertainty and fear.
Jason Clark, portfolio manager at value-investment firm Al Frank Asset Management in Aliso Viejo, Calif., added to his favorite companies as well as new positions as the markets have tumbled. With a long-term orientation and a contrarian investment approach, Clark is using uncertainty from the debt-limit debate in Washington to his advantage.
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