The greatest investor of our time, Warren Buffett, once said: "Most people get interested in stocks when everyone else is. The time to get interested is when no one else is. You can't buy what is popular and do well." If Warren's right, then maybe we've found a few stocks for all you bargain hunters out there.

We used our Motley Fool CAPS screener to unearth some of the most popular stocks among our CAPS All-Stars that are also potentially dirt cheap. Our All-Stars represent the best of the best, ranking in the top 20th percentile of our 145,000-plus investor community, in which we have rated more than 5,000 stocks.

With this in mind, we screened for stocks with:

  • A rating of five stars (out of five) from our community.
  • At least 1,000 outperform picks.
  • At least 300 All-Star outperform picks.
  • Market caps of more than $1 billion.
  • Trading within 40% of their 52-week lows.

Only nine stocks passed the screen:

Company

Market Capitalization

% Above 12-Month Low

All-Star Outperform Picks

Outperform Picks

Abbott Labs

82.50B

29

492

1565

Activision Blizzard (NASDAQ:ATVI)

14.03B

36

1440

5112

China Mobile

184.33B

14

836

3282

Frontier Oil (NYSE:FTO)

1.16B

4

334

1238

Gilead Sciences (NASDAQ:GILD)

38.54B

5

507

1743

Johnson & Johnson (NYSE:JNJ)

177.60B

39

3026

12117

PepsiCo (NYSE:PEP)

92.82B

36

1075

3707

Teva Pharmaceutical (NASDAQ:TEVA)

48.25B

29

403

1478

Valero Energy (NYSE:VLO)

9.42B

9

1219

4342

Three of these companies are active recommendations in our newsletters. Motley Fool Stock Advisor says this about Activision Blizzard:

Activision has a deep portfolio of proven franchises with potential blockbusters in the pipeline ... It benefits from the skillful stewardship of CEO Bobby Kotick and a war chest of almost $3 billion ready to develop the next blockbuster games. Yet the market continues to price the stock for low-single-digit growth over the next 10 years. We think Activision is going to do a lot better than that.

Motley Fool Income Investor , meanwhile, likes both Johnson & Johnson (a blue chip among blue chips, J&J is like owning a basket of first-rate health-care companies) and PepsiCo (this wide-moat food and beverage kingpin should keep profits and dividends growing for decades).

Are these stocks really cheap?
The only way to know the answer to that question is to do your own due diligence. While a screen is a useful tool for finding undervalued stocks, it's not enough on its own. Take advantage of the current market's mood swing and try to unearth your own fallen angels at Motley Fool CAPS.

Activision Blizzard is a Motley Fool Stock Advisor selection. Johnson & Johnson and PepsiCo are Motley Fool Income Investor selections. Try any of our Foolish newsletters today, free for 30 days.