Intrepid All Cap Fund's performance since inception corrected in this update.BOSTON ( TheStreet) -- Investors may regard Wal-Mart ( WMT) and Target ( TGT) as the best Black Friday stock picks, but fund managers say International Speedway ( ICSA) and Microsoft ( MSFT) are among sale items to buy. Black Friday kicks off the holiday shopping season this week with retailers offering special deals and promotions to draw shoppers into stores. Similarly, money managers are highlighting company stocks to lure value investors. Value investors try to buy, as is a common saying, $1 for 50 cents. But with the stock market's recent run, investors say it has been harder to find true value picks with the promise of price appreciation. Since the start of September, the S&P 500 has rallied 15%, the Dow Jones Industrial Average has climbed 11%, and the Russell 2000 Value index has jumped 17%. "The market has moved up pretty sharply since the end of summer, and that makes my job harder as a value analyst," says Greg Estes, manager of the Intrepid All Cap Fund ( ICMCX). Estes says cash is at 17% of assets and has been creeping higher as investment ideas dry up. "As the market runs up, everyone is happy. But I'm not happy. I can't find things," Estes says. "A lot of the names I liked several months ago, those discounts have shrunk." Just as retail shoppers need to be aware that some red sale tags aren't necessarily a good deal, value investors need to manage the risk of buying a cheap stock that won't rise -- a so-called value trap. "It's important that you get what you pay for," says Mike McGervey of North Canton, Ohio-based investment-management firm McGervey Wealth Management. "Or perhaps on Friday, you get a bargain on a quality stock with promise for price appreciation. A stock at a great value may not provide significant price appreciation." TheStreet spoke with four investment managers who take a value approach -- along the lines of Warren Buffett and Bruce Berkowitz -- to get their own Black Friday value-stock selections. Read on to see which stocks they believe trade at an attractive discount, much like the LCD televisions at Wal-Mart this holiday weekend.