Top fund manager Donald Yacktman says that he can’t remember another time in his 40-plus-year career when he has “seen so many high-quality, profitable businesses selling at prices relative to the market this cheaply.” Yacktman tells WealthTrack’s Consuelo Mack that many stocks are trading at valuations similar to where they were in the late 2008 or early 2009, but are in much better condition today. He’s finding big values in big, steady blue chips like PepsiCo, many of which he says have very predictable cash flows despite the global macroeconomic uncertainty. He says he’s not finding it more difficult to protect clients’ capital in today’s climate.

[youtube=http://www.youtube.com/watch?v=6sHjygRzsbA&list=UUW9B1PJwennxYi5Fk_94Lew&index=2&feature=plcp]