Joe Altman and Chris Kyriopoulos of Compound Capital made the case for Covanta ( CVA) which is in the waste disposal business. But interestingly, the company converts waste into energy at its 40 state of the art facilities providing electricity to one million homes in North America. Last month, the company signed a 20 year agreement with New York City to dispose of 800,000 tons of municipal waste per year. Covanta is not exactly cheap at 38 times 2014 consensus earnings estimates, but given the fact that the landfills are filling up quickly, waste to energy may be the future of waste disposal. It is estimated that the replacement cost of the company's tangible assets would be between $6 and $9 billion, and with a current enterprise value of $5 billion, Covanta may also be an asset play. Finally, the company has reduced shares outstanding by more than 15% since 2010, which in my view is another positive. CVA data by YCharts Day two of the 9th New York Value Investing Congress kicks off this morning. At the time of publication the author held no positions in any of the stocks mentioned.Follow @JonMHellerCFAThis article is commentary by an independent contributor, separate from TheStreet's regular news coverage.