Top value investor Ron Muhlenkamp says big international growth stocks like Intel look attractive right now.

“It is fascinating that Intel sells for just 10 times earnings,” Muhlenkamp tells Money Magazine. “Intel dominates the chip market, and its balance sheet is rock-solid. And it has a 3.3% dividend yield — that is irresistible.”

Muhlenkamp also talks about his strategy, saying that he looks for firms with strong returns on equity, and low debt. “We see regulation, taxes, and health care costs going up,” he says. “So we are paying more attention to balance sheets than we normally do coming out of a recession. We don’t like a lot of debt. If you don’t owe ’em money, they can’t put you out of business.”