The market has moved from being fairly valued to undervalued.

All this adds up to a dollar that is, in his words, "fairly valued."

But right now, I think the stock is fairly valued.

"Any management of a public company would have to say that if a fairly valued bid came in, they would consider it."

Moreover, many managers say the junk market is fairly valued now.

This means that oil stocks are seen as fairly valued.

And her analysis shows that the stock market is "fairly valued" now - not undervalued.

"Maybe it's fairly valued somewhere in the teens," he said.

"It brought the market down from overvalued to fairly valued," he said.

In an interview last week, she said the market has been fairly valued since March.