Updated from 6:59 a.m. EDT

By Stockpickr Guest Columnist Glen Bradford

Ignorance must be bliss.

I was just reading an article claiming that the most undervalued companies include UnitedHealth Group ( UNH), ConocoPhillips ( COP) and News Corp. ( NWS). The author cited price/fair value ratios of around 0.5.

If you're looking at stocks in this range, you're looking in the wrong place for value. There are some ridiculous deals out there right now. I've found companies with P/E ratios of about 2 that I'm interested in and price/fair value ratios less than 0.1.

Excited yet?

The global governments have been moving as I anticipated them to. They are putting out the credit market fire. Globally, interest rates are falling, commodity prices are falling, demand is falling, prices are falling -- the sky is falling. I've been calling up CFOs to investigate whether or not the companies I own are holding hostages, which I figure they might be because they're priced at fire-sale prices.

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